Condo resort takes shape in Orlando

Property company escapes2.com 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
World.     

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 escapes2.com 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.

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-      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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