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Playa del Carmen Real Estate: History Of The Popular Condo-Hotel Concept

30 July, 2013

Condo-Hotels also known as Hotel-Condos,Condotels,or Aparthotels are both a condo and a hotel usually operated as luxury hotels located in major cities and resort areas. 

When not occupied by the owners the hotel will diligently market and frequently rent out the unit to vacationers as a hotel room providing the owner with a lucrative return on investment from the rental income that’s generated. This provides to the owner both a fantastic personal vacation property and a profitable investment as well.

This concept is not a new one and first originated in Miami Beach Florida in the early 1980’s by converting 1950’s built beachfront hotels to condo units which at the time sold for a surprisingly $100,000 USD. The concept died for a decade or so because the US government stopped allowing them to be used as a tax ride off.

Then,more recently in the late 1990’s the concept re-surfaced again when an apartment building called The Mutiny in Coconut Grove Florida was converted to a condo-hotel. This project created so much public interest and demand that the developer was able to increase his prices 10 times during the sales process yet they rapidly sold out providing huge profits to the developer. Other developers took notice,jumped onboard,and built the Bentley Condo-Hotel in the south Miami Beach area again showing incredible profits to the developer. Dozens quickly followed in the area and all were successful developments.

Today ,there are approximately 35 such existing projects in the south Florida area that today sell for a whopping $600,000 USD  with another 100 or so  such projects scattered throughout different areas of the United States.

Lately,this hotel-condo concept has successfully surfaced in several other countries such as Canada,South America,Europe,The Middle East,Dubai,the Caribbean,and Mexico just to name a few.

One such luxury condo – hotel is located in beautiful Playa del Carmen real estate and is called the Pueblito Escondido. It’s strategically positioned in one of the most posh and sought after areas of the city and is right on the white powdery sands of the multi-coloured waters of the Caribbean Sea. The Pueblito Escondido provides all the services,amenities,and conveniences one comes to expect from a luxury hotel.

With international restaurants,shopping,exciting night life,world famous 5th avenue,water sports,the beach,and the Caribbean Sea right at its doorstep the Pueblito Escondido is both priceless and popular with vacationers providing them with the ultimate memorable Caribbean experience.

See more about this condo here

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