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Condo Hotel = Condotel

Condo Hotel = Condotel

So what is a condotel? Well, a Condo Hotel = Condotel means it is a condo inside a hotel. Most people think of a few basic options when it comes to residential facilities. Single family homes, apartments, apartment complexes, hotels, and condominiums are a few of the options that come to mind when considering residential properties. However, a number of other, less common options are also available like the combination of a Condo Hotel also known as a Condotel. Given the location and situation, these alternatives can be very handy and provide multiple benefits to the operators, residents, and financiers.

Each unique type of residential property has its own benefits. By combining these, a new type of facility can result and provide unique opportunities. While these financial benefits are obvious, the unique nature of these types of endeavors can sometimes make it difficult to acquire financing for them. This is especially true in larger areas like New York which have a competitive residential property market.  Read More…

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