With the foreseen tourist influx in Boracay there will be a high demand for rooms, the potential to have a constant rent opportunity is promising. Profitability will depend on a number of factors such as seasonality, marketing and operational efficiencies. It has to bee seen from the perspective of the viability of the whole island as a major tourist destination.
What are the benefits in owning a condo hotel?
These types of developments can offer enhanced financial returns when owners choose to place their units in a rental program. The revenue from being in an organized rental program may help defray the owner’s expenses. During periods in which owners are not utilizing their units, the operator manages the condotel.
Condo Hotels are sometimes referred to as “Condotel” or Condo-Hotel” However, they are not time shares.
A condo-hotel offers anyone the opportunity upon purchase, and obtains full ownership to own a furnished condominium in the island of Boracay. As a unit owner of the condo-hotel, he is entitled to a deed to the property and has access to all amenities of the hotel including its restaurants and spas.
A “condo hotel” or condotel is a condominium project that has registration desks, that offer short term occupancy, food and beverage services, daily cleaning services and that is operated as a commercial hotel even though the units are individually owned.
What is the condotel advantage?
As the unit owner, you have the option to use your condo hotel unit when you choose. As a condotel enrollee, when you are not occupying your suite, you have the option of placing your unit in the hotel’s rental management program to which you can expect to receive a percentage of revenue. The management company is responsible for housekeeping, maintenance and rental services.
How does a condo-hotel differ from timeshares?
This is not a time share. You possess whole ownership. At a time share vacation destination you are a very small owner of the property only enlisting a right to use. When you own a condo hotel you are the only owner and receive and actual deed to the property.
INVEST NOW IN BORACAY CONDOTEL TO ENJOY UNLIMITED INCOME.