CONDOTELS

Condo hotels, or condotels, have been around for decades but have received much more visibility in recent years. Condotel units are basically individual units that are part of a hotel facility, usually higher-end operations, in resort or downtown communities. Instead of just one individual or corporate hotel owner, the property is made up of many individual owners. The units are maintained uniformly and have the look and feel of a typical high-end hotel.

Because condotel units are part of a hotel operation, the services and amenities are usually higher than what you’d experience owning a condominium in a typical condo property. This makes condotel units particularly attractive as vacation properties. In fact, condotel units are rarely, if ever, used as primary residences. The units are intended to spend a portion of time in the hotel’s rental inventory.



Imagine planning your much-deserved vacation to a sunny climate and knowing you have a condotel unit awaiting you. Perhaps you are renting this unit much like you would a standard condo on previous trips, but this time, the accommodations are more deluxe because the unit is part of an upscale hotel operation in which everything is taken care of.

Perhaps the condotel unit is yours. You’ve been looking forward to enjoying some time away for quite a while. You know the condo will be fresh and prepared for you upon your arrival, just like a great-quality hotel room. Up until the time of your stay, the unit has been rented to other vacationers or business people. After your departure it will again be available for rent. You’ve done no marketing, no cleaning, no contracting with outside providers for maintenance. When you make you condotel unit part of the hotel’s rental pool, you share in a portion of the revenue it generates.

Of course, there’s no guarantee that the condotel unit will be always occupied. Hotel occupancy rates fluctuate for a variety of reasons. But wouldn’t it be great to have such a deluxe vacation dwelling awaiting you, at different times, throughout the year? You’d be able to enjoy the hotel’s pool, restaurant, shuttle and other amenities, and so would your guests.

Are such developments available in Chicago? You bet! Chicago is one of the premier vacation and business destinations in the world. Our condo specialist Realtors® at OwnACondo.com can help you buy or sell a Chicago condotel. To find out more information, contact OwnACondo.com by email or simply call us at 866-696-2266 today.