Will the condotel craze go down as the Pets.com of the housing craze? These projects will be very interesting to watch as they are hard to monitor since to my knowledge these types of properties do not currently exist in San Diego.
San Diego Business Journal Online - Time Will Tell if Condotel Mania Will Fizzle in Slowdown
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3 comments:
Condotel = timeshare by another name.
Timeshares and condotels are similar but not the same.
While similar you actually own the entire room with a condotel. Also with a timeshare you have more of set schedule while a condotel seems to be more flexible.
Also, with a condotel you receive a portion of the rental income for every stay in your condo. That is a huge difference to a timeshare. A great property boasting 90%+ occupancy rates can provide steady income (obviously at a price that, these days, is very high).
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