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Home » Business And Finance Articles » The Condo Hotel Craze

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 â€" 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 â€" often about 50 percent â€" 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-à-terre. Chicago, Washington D.C., and Phoenix are starting to get in on the condo hotel market, the most notable is the Trump Building in Chicago, studios are starting at $800,000.

"Boomers are looking for a vacation lifestyle of spacious accommodations, dining activities, and entertainment," Taylor says. "They demand extra services and luxurious amenities."

Here's how the Condo hotel concept works. You purchase a condo/hotel in a world class hotel. Use the residence whenever you like. When your away, put the residence in the hotel's rental program and share the revenue with the hotel. The hotel's management company takes care of all the management issues such as cleaning, renting and maintaining.

These residences offer the best of both worlds, a hassle free residence in a world class luxury hotel with rent revenue that you receive helps offset the costs of owing a 2nd or 3rd home. As well as the potential for appreciation.

If you are truly interested in a condo hotel please check out the http://www.condohotelcenter.com

And here is another random article you might be interested in...

Life Settlement Agents

Life settlements also known as life insurance settlements, senior settlements, or senior life settlements have quickly become an important tool for insurance agents, financial planners, estate planners, elder law attorneys, and other financial related professionals.

A life settlement is a financial transaction in which a senior citizen policy owner of an unneeded, underperforming, or unwanted life insurance policy sells the policy to a third party, as opposed to surrendering or lapsing it back to the life insurance company. The senior citizen policy seller receives immediate cash for the policy from the purchaser.

Agents and financial planners are beginning to market life settlements to their current client base and to potential clients. The most current effective methods of marketing life settlements are one-on-one presentations, seminars, and client newsletters. There has also been success with direct mailing either a client base or demographic base fitting the life settlement parameters.

A life settlement broker can assist life settlement agents with marketing material, educational material, and evaluation material. Having the correct knowledge about the life settlement product and material is important for any financial planner or agent meeting with a client or potential client. Each life settlement case is looked at differently, the biggest factors are the age of the insured, health of insured, policy size, premium amount, and current cash value (if any). Most life settlement brokers can provide simple qualification or evaluation forms that will quickly determine if a settlement would be available for that specific individual.

Life settlements are still a new concept for most agents and financial professionals. Many still do not understand the concept or have the right education about life settlements. It is important for these professionals to take the time to learn about life settlements so that in return they can relay this information to their clients. Many policy owners do not understand that there could be a cash settlement available for a life insurance policy that they are going to surrender or lapse. Insurance agents and financial professionals need to take the correct marketing and education steps to reach those clients in need. A life settlement can create added financial benefits for both the client and the financial professional.