Although both usually exist in four- or five-star hotels or resorts in highly-desirable locations, the key difference is how they are used.
A hotel residence owner may use his hotel residence 365 days a year and enjoy all of the hotels services and amenities. There is no rental component to this type of ownership.
Condo hotel owners, on the other hand, may use their unit whenever they want. However, when they're not using it, they have the option of placing it into the hotel's rental program and will receive a percentage of the rental revenue it generates. One other thing to consider if you are interested in a condo hotel unit. Condo hotels are never intended to be used year-round, and they often come with living restrictions.
The above question was submitted via e-mail by a visitor to www.condohotelcenter.com. The answer was prepared by Joel Greene, a licensed real estate broker with Condo Hotel Center which specializes in the sale of condo hotel units and fractional ownerships in private residence clubs.