News for the Hospitality Executive
Top Five Misconceptions of the
Condominium Hotel Industry
|CLEARWATER, Fla. October 16, 2008 - For more than 30 years,
the condominium hotel industry has been a viable marketplace for vacation
home ownership and property developers. Unfortunately, there are still
some deep-seated misconceptions about the industry, recently magnified
by the downward real estate market, that have lead the ill-informed to
see the condo-hotel business strategy as flawed. In an effort to clear
misconceptions about the industry, Provident Hotels & Resorts (also
known as Provident Management Corporation), leading full-service condo
explains the five top misconceptions of condo hotels.
1) Condominium Hotels are a flawed business model
Established in 1976 as primarily a residential condominium management organization, Provident Management Corporation quickly evolved into a pioneer of the Condominium Hotel Industry and by 1980 had established one of the first "condo-hotel" properties on the Gulf Coast of Florida. Since converting this existing hotel into a condominium hotel, Provident became a founder and remains a leader in this very specialized industry. Throughout its many years of experience, Provident has established and refined many of the foundations, concepts and philosophies of this business that have become industry standards.
|Also See:||The Condo Part of Condo Hotels; A Primer on How to Create a Common Interest Development / David Waite, JMBM / The Global Hospitality Advisor / February 2005|
|Condominium Hotels May Go Down As One of the Briefest Fads Ever to Sweep the Real-estate Industry; Orlando Seen as the Achilles' Heel of the Condo-hotel Market / July 2007|