| Locations that Condo Hotels can be Found In |
Condo hotels are located in the finest destinations on earth. Ski resorts, tropical settings, wine country, major cities around the world and more.
Condo hotels have been around for nearly three decades. It all began in South Florida back in the early 1980’s. The very first condo hotels sprung up in Miami Beach, and to this day, the largest concentration of condo hotels can still be found up and down the Florida coast. In the early 1990’s, condo hotels began to appear in other regions of North America with greater frequency. However, it wasn’t necessarily the beach destinations where most were showing up.
Many condo hotels were built in ski resorts. Luxury destinations such as Aspen, Whistler, Vail, and Tahoe had immediate success with the introduction of condo hotels. As we move forward through the first decade of the new millennium, condo hotels have begun to appear everywhere. The strongest trend, of course, is the urban condo hotel. With top luxury brands now getting involved, they’ve set their sites on major urban destinations such as New York City, Chicago, Los Angeles, and Las Vegas.
Many see the next major area of growth to be in Asia. The citizens of these regions have newly acquired economic might and have already shown exceptional interest in the condo hotel model. In fact, half the units of Trump Waikiki, the most successful real estate project in the world, were sold exclusively to Asian buyers.
Of course, no matter where condo hotels are built, you can still count on them appearing in locations that have several common traits. First and foremost, because the primary purpose of a condo-hotel is to maximize revenue year in and year out, you can always expect to find them in high occupancy areas that have high nightly hotel rates. If there’s a place in this world that has a nice mixture of high yearly occupancy and high yearly nightly rates, expect to find a hotel there within the next few years, if there isn’t one already.
So, it seems quite clear that over the course of the next decade, condo hotels will appear any place that a nice mixture of high nightly rental rates and occupancy is met. This means they’ll continue to appear with more frequency in major urban destinations, and of course, they’ll continue to be built in popular resort destinations throughout North America.
Tara Peterson is the Director of Sales for the popular real estate site, Premium Condo Hotels.
Visit her website http://www.premiumcondohotels.com to see the latest condo hotel listings, pricing for suites, and photos of all the condo hotels in the world. You can also sign up for a Free Property Alert and be among the very first to be notified when a new condo hotel is announced.
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