Hotel Industry is very vast. Many Different types of hotels are coming into the market. Just when the need arise, a new brand or similar new type rise into the market and simply disrupt the entire business ecosystem!
Now, When we talk about Different Types of Hotels, Most of them are known from their Names and Easy to Understand, But these Timeshare and Condominium are very unique and not so well known types of Hotel. So, Today In this keynote article We will briefly Discuss about the Difference Between VACATION OWNERSHIP HOTELS and CONDOMINIUM HOTELS.
Firstly Let’s Start by Understanding VACATION OWNERSHIP HOTELS : Well, Time-share Hotels are known as Vacation Ownership Hotels. The concept is that, for a set-period of time, which may be one week or more in a year the person or guest gets the right to enjoy the stay and other facilities, and services in an apartment are any other type of lodging in a Tourist Complex.
It is like an advanced purchase of time in holiday accommodation. Here the purchaser or guest has to pay one-time capital sum and then an annual contribution towards the maintenance of the property. The fee usually covers services such as cleaning and maintenance of apartment and public areas, electricity, gas, water, etc. Just to mention Avalon Resorts, Sterling Resorts & Holidays, Club Mahindra are the few time-share hotels in India.
Secondly When we talk about CONDOMINIUM HOTELS : It involves Joint Ownership of a complex. Each owner has the full benefit of a unit, and shares the cost that is common to the entire complex such as taxes, maintenance, upkeep of the building, etc. each owner can occupy or sell his unit independently but is obliged under the terms of the contract to contribute towards the pool of common facilities and services. Moreover, The owner can also enjoy recreational exclusive to the complex and the management looks after the unit in the absence of the owner and if permitted by the owner let it out to provide income to him.
So, What was the Easiest and Brief Overview of the Difference between Vacation Rentals and Condos, If you have any doubts then Do mention in the comments section below!
Actually I didn’t get proper understanding of condominium Hotel. But it was great reading it.
Well, Condominium Hotels are simply Apartment Rentals. Whereas, A Unit (an apartment) is rented or owned by the guest along with Complex facilities which are also financially maintained by guests. It’s also a modern-time concept.