[lvpanerai]

This project looks amazing. The condo-hotels will be run by well known and established hotel operators and will be included in their pool of hotel rooms. This means that anyone looking for a hotel room will not know the difference between the regular hotels and the condo-hotels, except that the condo-hotel rooms will generally be nicer. I have invested in a condo-hotel project in vegas and would like to meet others who have as well. We have a discussion site set up for owners or potential owners. Contact me if you are interested.

[dynimagelv]

I've heard that about almost ALL of the Condo/Hotels.....but when you go to TRIPADVISOR dot COM....the customer comments don't bear out their promises.....

[ClarkGrisowld]

If you buy a condo-hotel counting on any significant rental revenues I think you will lose your shirt. It's a bad business model for a variety of reasons. I take that back, it's an EXCELLENT business model for the developer.

[airics]

for rental, i wouldn't consider a condo/hotel etc... even a condo or townhouse is risky in my opinion, you would have to buy the condo for half the price of a house

[olecapt]

Originally Posted by lvpanerai

This project looks amazing. The condo-hotels will be run by well known and established hotel operators and will be included in their pool of hotel rooms. This means that anyone looking for a hotel room will not know the difference between the regular hotels and the condo-hotels, except that the condo-hotel rooms will generally be nicer. I have invested in a condo-hotel project in vegas and would like to meet others who have as well. We have a discussion site set up for owners or potential owners. Contact me if you are interested.

That has not been the experience so far. Signature...the Turnberry MGM thing has generally provided much lower revenue to the condos as to the hotel. Litigation has resulted. The buyers have some shot...though it is prically over securities law...not the revenue provided.

I think this is one of those "you gotta read the contract" things. Been my experience that this sort of contract never actually guarantees anything. It may well commit the buyer to use only the sellers services...but it does not commit the seller to any particular result.

YMMV

Note however that Vegas has a long and glorious history of making a great deal of money off time shares...and this sounds closer to a timeshare to me than a legitimate condo.

[returnoftheyeti]

is this what you guys are talking about?

Condo-hotel - Wikipedia, the free encyclopedia

And they are going to do that at City Center?


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More -
A Room Of Your Own - Forbes.com (http://www.forbes.com/business/forbes/2006/1225/068.html - broken link)

[lvpanerai]

I do understand that the Signature has had its share of problems. Im glad that i didnt go in on that project. Condo-hotels for the owners should be viewed first as a second home then as an investment. If you go in with that mindset, then it can be great for the owner. The great thing about the various condo-hotels in city center and the adjacent cosmopolitan(which looks to have a new owner), is that each is independently run, unlike the Signature which is attached to one of the largest hotels in the world.

[jfkIII]

lvpanerai...please tell us more. How long have you owned your condo? Has renting it out generated the income you had planned on?

[lvpanerai]

well, it is unlikely that you are going to make a living of the rental income from condo-hotels. the idea is to be able to make your payments with the rental revenue and have a second home that you can visit. anything beyond that is icing on the cake. with vegas historically showing 90%+ occupancy rates, making addition income is very possible, especially with a good property. other properties ive been involved with in different states have done well. We have been able to cover mortgage payments and have a little left over as income while having a nice second home we could visit.

[hbutler]

I'm interested in hearing more from people who own actual condo hotel units. One thing is clear. There are not a lot of comps out there. I'm not sure it does any good to draw any conclusions without real data.