Interesting Primer on Condo Hotels from New York Times
Condo Hotels - New York Times
By AMY GUNDERSON
Published: November 29, 2006
Imagine a vacation home complete with 500-thread-count linens on plush mattresses, daily maid service, and a 30-treatment spa. Hotels have rolled out condos at an increasing clip over the last several years, tempting buyers with amenities, hassle-free ownership and the potential for regular rental income, all rolled into one sleek package with a concierge desk.
Like the rest of the housing market, however, condo hotels are not immune to the slowdown, and several projects, after splashy sales releases, have quietly curtailed building plans because of sluggish sales and rising construction costs.
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By AMY GUNDERSON
Published: November 29, 2006
Imagine a vacation home complete with 500-thread-count linens on plush mattresses, daily maid service, and a 30-treatment spa. Hotels have rolled out condos at an increasing clip over the last several years, tempting buyers with amenities, hassle-free ownership and the potential for regular rental income, all rolled into one sleek package with a concierge desk.
Like the rest of the housing market, however, condo hotels are not immune to the slowdown, and several projects, after splashy sales releases, have quietly curtailed building plans because of sluggish sales and rising construction costs.
More...
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