11 Things You Should Know Buying a Condo Hotel in Miami

SLS LUX Brickell shared lobby (left) Hotel Guests check-in key card (right) Condo Residences fob access

SLS LUX Brickell shared lobby (left) Hotel Guests check-in key card (right) Condo Residences fob access

Most major hospitality brands have or are in development of a condo hotel in Miami.

The key advantages of a condo hotel are signature, world-class amenities and services, less rental restrictions/Airbnb-allowed, turn-key or hotel package furnished, and option for a hospitality-grade, professional-managed, revenue-share rental program. Newer developments have residents-only access areas.

The ideal condo hotel owner stays in unit a small percentage of year, prioritizes rental income from the unit as a vacation property, is comfortable with occupancy and rate uncertainty, and can comply with blackout dates and rules.


Considerations

  • full-service facilities and resort access

  • short-term rental taxes

  • two-fold appreciation from property value and brand association

  • sales and marketing along with global reservation system to optimize year-round booking and revenue

  • housekeeping, room service, maintenance and concierge et al services inclusions

  • ease to resell

  • revenue splits range 35% - 60% based on hotel brand plus specified distribution timing

  • occupancy and earnings are not guaranteed nor projected

  • association fees and rules apply

  • hotel-operated units may be on certain floors or sections of building

  • furniture package costs are typically mandatory for unified image and guest experience included in or additional to sale price

  • lenders will finance yet at higher loan rate and down payment requirements


Recommendations

Beach

Mondrian South Beach

1 Hotel & Homes South Beach

The Residences at W South Beach

Carillon Beach

Four Seasons Residences at The Surf Club

Brickell

Iconbrickell

SLS LUX Brickell

Biscayne

Hyde Midtown

YOTELPAD

Condo hotel is the best investment for those seeking world-class, hotel level amenities and services afforded by flexible use offset by rental income that covers all expenses including property management.


Please contact me to discuss more and visit properties.

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