Phoenix now has a limited number of “Condotels” also known as “Condo Hotels.” This concept of resort like vacation accommodations offer savvy return on investment & is different from a time share property. This is a wise transaction for those who are looking for Real Estate benefits & ownership offering flexibility, as the owner may lease the property out, or sell the property. Part taking in the ownership of Condotel’s benefit busy corporate professionals, annual vacation goers, buyers in need of a in-law retreat or to serve as a common guest quarters. The in-house management for a percentage of the rental income will lease out the Condotel long-term, seasonal stays & as well as nightly accommodations (rules vary per community). These communities are appealing as amenities such as room service, concierge, professional interior furnishings (varies on community), fitness & spa services, unit maintenance, housekeeping after guest vacate, national advertising exposure & more. Since most of these communities development is by experienced hotel resort corporations such as Four Seasons, Ritz Carlton, & Starwood Hotels & Resorts Worldwide resort like services included in the price of the property & will be more than a traditional condo . Phoenix is the 10th largest city in the nation & with high percentage of transient winter visitor rate we are happy to see living trends similar to Los Angeles, Miami, & Las Vegas beginning to take shape here.
We offer our clients up to date research & current market comps to help analyze the purchase cost versus the rents per night/seasonally/long-term accommodations. We want to give you as much current information to help in your decision process. Important considerations in the various management company community projects related to decor, availability & other details on each clients unique needs to consider a condotel buy is a good fit.
Below is a list of Communities offering this type of purchase options. It’s the best of all worlds, vacation & investment together in one! Call us at (602) 451-6600 or complete the Contact Us tab directly for up to date information!
(MORE COMMUNITIES COMING SOON)