Condo resort takes shape in Orlando

15th Sep 2006

Property company has added The Blue Rose
Condominium Hotel Residence in Orlando, Florida to its expanding portfolio
of developments.The Blue Rose is a 1,300 unit condo hotel which combines the benefits of
real estate ownership with the luxuries of an elite resort.  The
development will consist of three soaring towers high above a Las
Vegas-style entertainment complex featuring a dazzling Broadway Theatre,
five internationally themed restaurants and a relaxing spa… all located
on a private tropical lake between International Drive, Universal Studios
and The Convention Centre. And only a short drive from Disney, MGM and Sea

This unique billion-dollar, 39-story condominium hotel and resort has
recently been awarded the ‘Visionary Project of the Year - 2006’ by The
Developers and Builders Alliance. The development will have one, two, and
three-bedroom residences, lofts, studios and stunning penthouses, with
prices starting from $350,000. The residences range from 575 to over 3,000
square-feet. All properties will come fully furnished and equipped,
including plasma televisions and wireless broadband internet. Ownership
privileges may also include participation in a rental arrangement.

Adrian McDermott, managing director for says: “We are
delighted to add The Blue Rose to our portfolio; we believe condo-hotels
offer an excellent low-risk investment in one of the most popular holiday
destinations in the world.”

So how do condo-hotels differ from owning a traditional condominium or
vacation apartment?

-      The properties are typically large, high-rise, luxury hotels and
the suites are fully furnished and equipped to a standard you would expect
from a luxury 4-star hotel.


-      When the owners of condo-hotel suites aren’t using their units,
they have the option of placing them into the hotel’s rental program to
receive hassle free rental income.

-      While the developer doesn’t guarantee the rental of the unit, by
capitalising on a hotel’s name recognition, advertising, national
affiliations, centralised reservation system and management expertise, most
unit owners may typically receive a higher level of rental income than they
would from a traditional vacation home.

-      As part of the rental agreement, the hotel pays for most operating
expenses such as marketing, housekeeping, and administrative costs. The
condo-hotel owner typically pays for insurance, real estate taxes, and
capital improvements.


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