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  • Condotel

    Anybody have experience with these? They seem to be the trend lately. Basically, you "buy" a hotel room, as a condo. But, down at the front desk, they rent it out daily for you just like a hotel. And, they split the income with you.

    I ran the numbers on a few, and with expected occupancy (way less than 100%), and a typical mortgage, you should theoretically break even if you don't stay there.

    But, then when you come to Hawaii, you have a place to stay. Granted, it's a 400 square foot hotel room. So, you'd have to figure something out more permanent eventually.

    But, I also ran through a scenario where four business people from the mainland go in on one, and then basically have a regular place to stay for their trips.

  • #2
    Re: Condotel

    First and perhaps most important question: is it leasehold, or fee simple?
    .
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    That's my story, and I'm sticking to it.

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    • #3
      Re: Condotel

      From what I understand, fee simple. I learned early to ask that question. The one I saw was the Alo Moana Tower (I have to find the web site), but I see them becoming more popular in tourist areas. (e.g. Vegas, Orlando, Waikiki)

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      • #4
        Re: Condotel

        I own a leasehold condo-hotel, oceanfront in Hilo. Got it for $20k a couple years ago. Fixed it up real nice. Pays for itself and then some. Gives me a place to stay when I'm in Hilo.

        There is wide-spread financial misunderstanding and false propaganda about leasehold property in Hawaii which is why prices for leaseholds are often so crazy low.
        FutureNewsNetwork.com
        Energy answers are already here.

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        • #5
          Re: Condotel

          http://www.hicondos.com/hawaiiCondos...ighborhood.asp

          http://www.hicondos.com/hawaiiCondos...p?building=139

          Fee Simple

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          • #6
            Re: Condotel

            Originally posted by drumorgan
            Anybody have experience with these? They seem to be the trend lately. Basically, you "buy" a hotel room, as a condo. But, down at the front desk, they rent it out daily for you just like a hotel. And, they split the income with you.[...]
            There's been a little discussion on this subject in these threads. I'm seriously considering buying one eventually.

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