| Baby boomers interested in buying vacation | | | | hotel's rental program when they're not there. |
| homes are now considering one of the latest | | | | The hotel management takes on the responsibility |
| trends in second home ownership: the condo hotel. | | | | of finding and dealing directly with renters, leaving |
| Condo hotels are a type of vacation home. They | | | | the owners free from these duties. The rent |
| are typically located in resorts operated by some | | | | revenue the condo hotel unit generates helps |
| of the top luxury hotel chains, such as Marriott, | | | | offset the costs of ownership. |
| Ritz-Carlton, Hilton, and Trump International, to | | | | Many baby boomers looking for investment |
| name a few. | | | | alternatives see condo hotels as a smart choice, a |
| These upscale second homes made their debut in | | | | means to diversify into something other than |
| Miami, but the condo hotel trend has now spread | | | | stock market holdings. Because of a limited supply |
| across the country to markets like Orlando, Las | | | | of land in many choice locales, the likelihood of |
| Vegas, Chicago, and to various cities in California, | | | | capital appreciation on condo hotel units is |
| Colorado and New York. They are also quite | | | | increased. |
| popular in exotic locales such as Mexico, Panama, | | | | Condo hotel units come in a variety of sizes and |
| the Caribbean and Dubai. | | | | prices, typically ranging from $300,000 to over $1 |
| Condo hotels are a perfect fit for the lifestyle | | | | million for prime properties. |
| baby boomers enjoy, providing luxurious, | | | | Unlike a timeshare, which usually provides only a |
| hassle-free second homes, without all the worries | | | | week or two per year of use, condo hotel |
| of maintenance. They offer baby boomers the | | | | owners are fully deeded property owners who |
| opportunity for easy, relaxed family vacations in | | | | can generally use their condo suites when and |
| desirable locations without time spent researching, | | | | how they please. Baby boomers want vacation |
| planning and booking travel accommodations. | | | | homes that are available when their busy |
| Unlike traditional vacation homes, condo hotels are | | | | schedules allow them time off. |
| furnished condominium suites located within some | | | | Also, whereas traditional timeshares can be |
| of the country's most famous hotels and resorts. | | | | difficult to resell, condo hotels, with their luxury |
| Owners of these suites are entitled to use all of | | | | amenities, prime locations, limited inventory, and |
| the luxury amenities and services offered by the | | | | potential for appreciation, can be resold more |
| property, such as fine dining restaurants, fitness | | | | readily. |
| centers, spas, and concierge services. | | | | For all these reasons, the condo hotel product, |
| Furthermore, the headaches of maintenance, | | | | and the lifestyle if offers, appeals to the baby |
| guest services and housekeeping are assumed by | | | | boomer generation. Look for more condo hotels |
| the on-site hotel management company. | | | | to come on the market in coming years to meet |
| But what really sets condo hotels apart are that | | | | this burgeoning demand. |
| the individual owners can place their unit in the | | | | |