Can condotel owners rent out their units themselves and keep most or all of the revenue?
In most condotel properties, they can, but doing so defeats one of the prime benefits of condotel which is hassle-free ownership. Most owners prefer to have the onsite professional management company find and handle renters. In addition, owners of condotel are likely to receive a higher level of rental income by participating in the property’s rental program which is administered by a recognized professional operator that can capitalize on the hotel’s global affiliation, its brand name, its sophisticated reservation system and management expertise. 6. What are the keys to a sucessful acquisition of condotel? The essential ingredients to a successful ownership of condotel include the following: good location, an attractive amenity package, a respected developer, a strong brand and good management. 7. Are developers willing to guarantee the rental of the condotel units when not in use by the owners? No, they are not. Developers are aware that potential security law issues can arise out o
