Along with the proliferation of condo hotels in South Florida and around the country has come a new breed of real estate — the condo hotel hybrid. Webster’s defines hybrids as “the interaction or cross-breeding of two unlike sources.” While the definition is usually applied to animals or plants, it can be relevant to real estate as well.
Some five-star condo hotels have now begun to offer a percentage of their units as straight condos. That is, buyers would have deeded ownership of a one-, two- or three-bedroom condo unit, and would also have access to all the wonderful amenities of the condo hotel. These amenities range from luxury spas and world-class gyms to concierge services and on-site gourmet restaurants. Unlike the condo hotel units, however, the straight condos would not be a part of the hotel’s rental program.
With regard to investment potential, condo owners would benefit from the condo hotel property’s well-known franchise name and five-star reputation. That is, a condo in Canyon Ranch or the Four Seasons condo hotels would likely have better resale value than a comparable condo in a no-name property. The condos would also be differentiated from all other condos on the market by virtue of the condo hotel’s reputation and its five-star services.
Some of the hybrid properties in Florida, currently offering both condo hotel units and straight condos are:
- The Setai, Miami Beach
- Roney Palace, Miami Beach
- One Bal Harbour, Miami Beach
- Acqualina, Miami
- Canyon Ranch, Miami Beach
- Four Seasons, Miami Beach
- Espirito Santo Plaza, Miami Beach
- St. Regis, Fort Lauderdale
- Regent Winter Park, Orlando
For more information on any of the above properties, please contact Condo Hotel Center at firstname.lastname@example.org or call (954) 450-1929.