The Benefits of Condo Hotels

If you are interested in owning vacation property but you don't want to deal with some of the hassles that can be associated with property ownership, then you may want to consider condo hotels. This has become a popular way for people to take advantage of the amenities afforded by high-end vacation destinations while not being locked into any sort of schedule regarding when they can and cannot use them.
These types of property have been in existence for several years, but they started becoming quite a bit more popular in the early 21st Century. They are typically operated by large corporations and provide services comparable to five-star establishments. When owners of units are not using them, they can rent them out to other vacationers just as they could a house or any other type of rental property. Any improvements to the unit are the responsibility of the individual owner, while the operator pays expenses such as administrative costs, marketing, and housekeeping.
Usually, owners as well as guests occupy condo hotels. They are typically operated just as a traditional hotel, and all units look similar whether they are owned by individuals or occupied by guests. The people who own these types of units run the gamut from families that want to have a second home to retirement-age people who want a place to spend the winter. Others are investors who may rarely stay in the unit.
In some instances, the operating company will limit the owner's use of a unit to no more than 60 days out a year so that it can generate revenue from visitors. Usually, there is an even split in revenue between the operator and the owner, but different properties vary in the way their arrangements are set up.
Advantages of owning this sort of property include the fact that there are none of the typical landlord issues associated with other rental properties. For example, owners don't have to worry about being called at 3 in the morning because a tenant's air conditioner or heater has gone out. While there can be substantial expenses involved in ownership, many of them can be offset by the revenue brought in when guests stay in a unit.
People who are interested in condo hotels should make sure they do their due diligence to make sure this type of purchase is right for them, just as they would any other type of real estate investment. It is highly recommended the prospective owners talk to brokers who are familiar with these kinds of properties and completely understand the market. A broker will listen to a prospective owner's needs and wants and be able to recommend properties that best match those requirements.

The Importance of Travel and Tourism

In countries around the world, the importance of travel and tourism for national economies is evident from the contributions the sector makes. Taken as a whole, this industry employs over 100 million people directly and a similar number in related jobs, contributing a whopping 9 percent of global GDP, or $6 trillion. A closer look at the statistics from institutions such as the World Economic Forum also reveals that 10 percent of all jobs globally are in this sector, and there are logical explanations why certain countries have succeeded.
Analysis reveals that Europe is in the lead in travel and tourism, and all the top ten countries are from the region. Switzerland leads the pack for a number of reasons. Firstly, its infrastructure is second to none and facilities related to the sector are top notch, including staff. Secondly, the country has a reputation as having the best hotel management schools in the world. Thirdly, Switzerland's environmental policies are of a very high standard, heavy emphasis being placed on sustainability. This forward thinking has been emulated by countries such as Germany, Austria, Spain, France, Sweden, and the United Kingdom.
Investment in the travel and tourism sector cannot be overemphasized, and in Africa, this is clearly evident in a number of countries. The ratio of investment in the industry to GDP in Seychelles is the second highest in the world, and in Kenya, high government spending on destination marketing has seen the industry grow to be the top foreign exchange earner. This continued investment suggests that the industry continues to develop and has not reached stagnation. In essence, this is an immensely important industry and any country that wants to boost its economy must seriously consider high investment in the sector, particularly since even in times of recession, job growth is seen to be on the rise and can be an attractive argument to increase investment.
Many aspects of a country can set it apart, making travel and tourism a very viable option; the lifestyle of the people, their traditions and customs, culinary culture, wildlife, landmarks, and more that can be said to be truly unique. After all, traveling is all about new experiences, and as long as mankind thirsts for these new experiences, this industry will continue to grow, and no doubt countries should take advantage of the huge and enormous potential within their shores that is unlimited in every respect.