It must be clarified that condo hotels are not time shares but rather provide furnished suites within a ‘hotel’ that are wholly owned by the purchaser. The buyer not only gets the deeds for his property but also profits from any appreciation in its real estate value. Unlike most holiday homes, ownership within a condo hotel also offers buyers the opportunity to gain a rental income whenever the room is left unoccupied, by entering them into the hotel’s own rental programme.
Most owners will occupy their suites only weeks of the year, and rent them out the rest; also reap assistance in paying off their mortgages. The hotel’s management company takes care of the housekeeping and maintenance of the suites in the owners’ absence, making this a 100% hassle-free investment.