The Condo Hotel Craze

What started in strictly resort areas is now branching out into all major metropolitan areas. Most of the larger worldwide hotel chains now sell condo hotel residence. Much of the condo hotel market in the U. S. started in Florida. The residences there command 600,000-800,000 for a studio. I bedrooms start around $750,000. $1,000,000. 2 Bedrooms Start over the 1,000,000 price range. These permanent residences feature all the furnishings and amenities of a luxury hotel -- such as world-class restaurants, 24-hour concierge, security, valet, housekeeping, and room service. Joel Greene of the Condo Hotel Center says a rental option provided by the condo hotel management company allows owners to receive a portion -- often about 50 percent -- of the rental income of their specific unit when away. Taylor says developers favor waterfront, mountainside, and downtown areas with strong demand for upscale lodging. Myrtle Beach, S.C.; South Florida; and Las Vegas have fast-growing condo-hotel markets that favor high-end travelers and boomers looking for a high-amenity pied-