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Condo Hotel or Timeshare?

Posted by: raindrop 7 years, 6 months ago


 What is a Condo-Hotel?

Many folks are confused about the difference between Condo Hotels (condotels) and Timeshares.  Some think they are one in the same, but they are not.  The following is a brief explanation of the two ownership types.  If you have questions not answered here, you may feel free to contact us for more information.

Timeshares: You own a specific week or two per year of "time" when you may use a unit.  For example, you might purchase two weeks in June at the Marriott Desert Springs.  On an annual basis one may either use the two weeks yourself, trade your use for a time in another property, or sometimes you can "bank" the time for future use.  Timeshares may (and probably do) have as many as 52 for a particular unit.  Timeshares are typically a hard sell and can also be a bit tricky to schedule as prime "times" are often scheduled a year in advance.  Many people own timeshares and happily use them year after year.  Timeshare resales can be a challenge if you were to choose to get rid of one.

Condotels: You own a specific unit all by yourself.  In a 17 unit condotel facility (like the 1906 Lodge at Coronado Beach) there are a total of 17 owners.  Note that although you own the unit there are owner use restrictions that vary by depending on what City the property is located.  For example, in Coronado, an owner may use his own unit up to 90 days per year and up to 25 days in a row (there may be some additional restrictions depending on the property).  In San Diego, the limit on owner use on an annual basis is 30 days.  When the owner is not using his or her unit, it is made available to the public through the hotel as a hotel room or suite.  Typically, the owner and the hotel/property manager have a revenue sharing agreement so when not in use by the owner, the unit can be a performing asset.  For folks who like to travel to the same location often, but who do not want to leave a house or condo empty when they are not in town, or who do not like having to manage property by remote control, condotels might be a good solution.  Condotels enjoyed huge success before the recent recession, but like many properties values have dropped.  Some owners have been dissatisfied with both the loss of value and the slow hospitality market overall.  There are only two condotel facilities in Coronado - the 1906 Lodge at Coronado Beach and the Hotel Del Coronado's Beach Village.

Feel free to call or email if you have questions.



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