Orlando, one of the world's best vacation destinations, offers beautiful weather, extraordinary theme parks, excellent shopping, championship golf, and close proximity proxies to the finest beaches.
In the field of hospitality, attention has been paid for a long time with many hotels and time share. However, nowadays, even in the condominium market, more developed properties are being developed than any other city, and we are demonstrating leadership.
CONDO Hotel offers HASSLE-FREE ownership
As the condo hotel is a new type of vacation homeowner it is not a surprise that it is popular in Orlando, the center of the world holiday.
These furnished apartment suites of luxury hotels and resorts offer excellent facilities such as a full service spa, state-of-the-art health club, resort style swimming pool, lavish clubhouse, fine dining restaurant and 24 hour concierge service.
The owner can use the condo vacation home and place it in the hotel rental program at the rest of the time. They typically receive about 50% of the revenues generated by their units. Condominium hotels provide on-site ownership because on-site hotel management companies are looking for guests and managing and managing properties.
Expansion of hospitals including condo hotels
Greater Orlando has about 120,000 hotel rooms. It is much bigger than the cities in the US, but many hotel and condominium hotel developers are confident that there is still room for expansion in this popular tourist destination and convention destination. They cite the following facts about the Orlando market as a reason for optimism.
· Approximately 50 million visitors come to Orlando each year, and the number is continuously increasing.
· Orlando is the capital of the world holiday. As new attractions are being built continuously, there are no signs of abandoning that authoritative title.
· In addition to the theme park, Orlando will visit over 200 championship golf courses, more than 800 tennis courts, numerous global shopping facilities, high concentration lakes that are ideal for fishing and water sports.
· The occupancy rate of hotels in Orlando is historically 73%, but the occupancy rate of many real estate exceeds 83%. These charges are the highest occupancy rate in the country.
· Orlando's average daily rate is 4% of the national average.
· Orlando's Orange County Convention Center is the third largest in the country, attracting major trade shows and conventions and keeping hotel rooms adequately throughout the year. More than 1 billion representatives each year are present at the conference at the Orange County Convention Center. In 2005 and 2006 Orlando was able to absorb a lot of customs and trade shows that were planned for the Louisiana Superdome.
· Orlando's theme park attendance increases every year, reaching far beyond the US border. The theme park spends millions of dollars each year on marketing and promotion around the world. Participants in the area's largest theme park, Disney Magic Kingdom, are expected to exceed 15 million people a year.
· Orlando is strategically located in the center of the province and can easily be reached from Florida cities in north, south, east, west.
· At Orlando International Airport, traffic volume is expected to increase by about 20% per year, it is the most frequent in the top 20 airports in the US, and is the top 30 in the world. It is ranked # 1 by JD Powers on passenger satisfaction.
· Florida is the single state that Americans prefer most for purchasing recreational facilities compliant with the American Resort Development Association (ARDA).
· Foreign buyers prefer Orlando to Florida and other cities in the USA. According to the National Association of Realtors, this constitutes 23% of Orlando's home sales. International buyers are more likely to purchase more expensive houses, and these purchases are more likely to be used as vacation homes (38%) or investment properties.
Many Condo hotels in Condor
Currently 15 to 20 condominiums are selling units to Orlando. A large complex project incorporating spa, golf course, town center, shops and restaurants is scheduled. Among the largest projects, there are over 1,000 projects, with water parks, cinemas and entertainment facilities on site.
Some condominiums will be newly built, others will be a combination of existing hotels and resorts. Most things are 3-5 star caliber, close to Orlando theme parks, attractions and golf courses.
Some of the condominiums have famous franchise operators such as Sonesta, Starwood, Hilton and other hotels are operated by independent hospitality companies.
Offer value of Orlando Condo Hotel
Orlando's condo hotel unit tends to be larger than those in cities like Miami Beach and Fort Lauderdale. It is designed to accommodate many families and extended families coming to area theme parks, with 2 bedroom, 3 bedroom and even 4 bedroom units in Orlando property not uncommon. In the city of South Florida, there are mainly studio and one bedroom units.
Orlando condo units also tend to have significantly lower costs per square foot than South Florida condo hotels. In Orlando you can expect to pay $ 400 to $ 700 per square foot. A resort facility can find luxury units starting at $ 350,000.
In southern Florida most of the condo hotels start at over $ 500,000. The Miami Condominium hotel unit ranges from $ 1,000 to $ 2,400 per square foot and the Lauderdale condo hotel ranges from $ 1,000 to $ 1,300 per square foot.
Real estate appraisals are done at an astonishing rate of 20% to 30% annually throughout Orlando, but many buyers offer compared to other Florida locales.
