What are condotels?
Condotels uses the ownership structure of a condominium with the option of operating it like a hotel.
The ‘condo’ half allows you to buy and own units as an outright property investment while the ‘hotel’ half allows you to put them up for rent under the building’s hotel program and services which provide the booking, cleaning and room services for a percentage.
Benefits of a condotel
One of the benefits of a condotel is that you can live in it as your primary residence controlling what renovations you’d like to make and how much time you spend there.
But there are many who buy a condotel as a form of investment and vacation home, renting it out and collecting some income while they’re not using it. They can also keep the unit cared for by hotel services in the meantime.
As your name is on on the title deed, you benefit from any appreciation on your property asset. Include the revenue from potential hotel rent and the value of a condotel becomes greater – but also more complicated.
Keep in mind that changing conditions in the tourism market will dictate the amount of hotel revenue you receive.
Condotels in Thailand
Condotels in Thailand are usually older established condominiums that utilize their superior location in tourist areas like on the beachside with their own private beach access and vistas of the ocean newer projects can only dream of.
These established condotels offer much bigger living spaces that have multiple rooms, spacious kitchens and functional balconies. They also have all the modern facilities which never go out of style including upper and lower swimming pools, full-sized tennis courts and retrofitted gyms. Great for owning or just staying a night.
Established beach locations like Pattaya have a selection of excellent condotels with fabulous ‘here-first’ beachfront placement and freehold units.
Condotels with Private Beach Access in Thailand
1. Krisadanakorn Condotel
2. Sunshine Beach Condotel
3. Grand Condotel