TABLE OF CONTENTS A condominium describes the absolute ownership of an apartment in a multi-unit building based on a legal description of the air space the unit actually occupies. Common areas such as the land, the physical structure, the lobby and any amenities are owned jointly by all condominium unit owners. Common charges and fees for operational and managerial expenses are allocated among the owners of the condominiums based on the square foot percentage of each owner's unit.
The term 'condominium hotel' is a relatively new term used by the hotel industry and refers to those buildings whose suites are individually owned but are collectively marketed and operated as a hotel. Typically, condominium hotels offer housekeeping, front office and security services, but have limited or no food and beverage facilities. What further distinguishes condominium hotels is that the units are normally rented for a minimum stay of one week. Typically, investors in condo hotel suites are motivated by tax write-off opportunities, personal free use of their unit during a limited period of time each year and the potential profit share derived from the yearly rental of their unit to vacationers.
Gentry, Robert A., Mandoki, Pedro and Rush, Jack (1999) Resort Condominium and Vacation Ownership Management: A Hospitality Perspective. Lansing, MI: Educational Institute of the American Hotel and Motel Association.
Udo Schlentrich
University Of New Hampshire, USA
A meeting characterized by its participatory nature, a conference is designed for the discussion of subjects related...
