What is a "Condo Hotel"?

In recent years we have witnessed unprecedented changes in the hotel industry. The emergence of booking platforms available to the public has allowed small and private companies to compete with large hotel chains for the preference of travelers, who now enjoy a much larger selection of accommodation options than in previous decades.

New trends in tourism have allowed audiences to evolve in a much more demanding clientele, looking for more enriching experiences when traveling. Faced with so many options in the market, hotel operators have had to look for more creative ways to develop new hotel ideas and property concepts.

The "condo hotels" have made possible the development of new lodging concepts, as well as creating financial models with benefits for all parties. On the one hand property developers enjoy solvency to create experiences that meet the demands of new markets, while individuals have the option of investing in their own summer home, capitalizing on the time they are not using it. Also, travelers have the opportunity to find accommodation options with all the comforts of home without making an exorbitant investment.

One of the main challenges for "condo hotels" is to guarantee occupancy levels that generate the necessary cash flow for its correct operation. The quality of service and facilities are critical when competing with other accommodation options, therefore, being able to guarantee that the financial goals are met, facilitates the operation of these hotels.

The tendency to create more intimate and unique experiences has greatly impacted the hotel industry, and the "condo hotels" have not been the exception. Therefore, modern "condo hotels" tend to be smaller than traditional resorts, as are boutique or conceptual hotels.