Condo hotels are a fairly new concept. Here are the most often asked questions and answers.

1. In a nutshell, describe the concept of the condo hotel.
Condo hotels are usually large, high-rise, luxury hotels operated by big names including Four Seasons, Marriott, Ritz-Carlton, Sonesta, Starwood, Hilton, Trump, Rosewood, Regent International Hotels, Clarion, Conrad Hotels, Bulgari and Le Meridien.

Condo hotels have condos that are sold to individual investors who may use their unit as a vacation home whenever they like. When they're not using their unit, owners have the option of placing it into an organized rental program. Rental revenue, which is shared with the operator, helps defray the owner's expenses.


2. What are the benefits to the condo hotel buyer/owner?
Owners have a luxurious vacation home in a premier location at their disposal. Owners who choose to place their condo hotel units in the property's rental program receive revenue which helps defray the expenses of ownership.

Most condo hotels have wonderful features and services that enhance their appeal to potential buyers as well as future renters. Typical amenities are spas, health and fitness centers, fine dining, business centers and more. Services could include valet, concierge and housekeeping.

Condo hotels offer hassle-free vacation home ownership. The on-site management company takes care of all upkeep, maintenance and interaction with renters.

Owners of condo hotel units have the right to resell their unit at any time. They keep any profits derived from appreciation. Thus condo hotels combine vacation home ownership with investment potential.

3. What is the role of the condo hotel operator?
The operator of the rental program, in exchange for a share of the revenue, markets the units as a hotel, takes reservations, operates the front desk, maintains the property and provides the services hotel guests expect, such as housekeeping, food and beverage, and concierge.

4. Describe the typical arrangement between the condo hotel buyer and the hotel management company?
Some of the items spelled out in a typical owner agreement include:
    •    The amount of revenue the condo hotel owner will receive. 

    •    The amount of revenue the hotel management company will receive. 

    •    Typical deductions before each of the parties receives their share, including money for a furniture, fixture and equipment reserve. 

    •    The financial responsibilities of the individual condo-hotel owner, which usually include the real estate taxes, insurance, capital improvements and debt service.

    •    The financial responsibilities of the condo hotel management company, which usually include operational expenses like housekeeping, maintenance, front office, administrative and marketing. 

    •    A rental program agreement which outlines the number of days per year and notice requirements for owners regarding use of their condo hotel units.

5. Can condo hotel owners rent out their units themselves and keep most or all of the revenue?
In most condo hotel properties they can, but doing so defeats one of the prime benefits of condo hotels which is hassle-free ownership. Most owners prefer to have the onsite professional management company find and handle renters.

In addition, owners are likely to receive a higher level of rental income by participating in the property's rental program which is administered by a recognized professional operator that can capitalize on the hotel's national affiliation, its brand name, its sophisticated reservation system and management expertise.


6. What are the keys to a successful condo hotel?
The essential ingredients to a successful condo hotel include a good location, an attractive amenity package, a respected developer, a strong brand and good management.

7. Are developers willing to guarantee the rental of the condo-hotel units when not used by the owners?
No, they are not. Developers are aware that potential security law issues can arise out of the sale of condo hotel units. In order to avoid coming under the scrutiny of any federal or state securities agencies, developers refrain from setting rental revenue expectations for prospective buyers. Instead, the developer's emphasis in the condo hotel's marketing materials and sales presentations is always on the real estate itself.

Generally, it is best to consider a condo hotel unit purchase to be similar to the purchase of a second home or vacation home. Choose a desirable building in a good location, and there is likely to be appreciation of the investment over the years. As icing on the cake, owners who choose to participate in the rental program can receive income from its rental to help defray ownership costs.


8. Where are most condo hotels located?

Condo hotels are typically found in highly desirable areas, often near the ocean, lakes, theme parks, golf courses, or in major cities. Miami and Miami Beach were the first areas to get large-scale condo hotels, and for a few years had the most condo hotel inventory in the nation.

Now that most of those original condo hotels are sold out and raw land is virtually nonexistent, the trend has moved north to places like Fort Lauderdale, Orlando, Daytona, Destin and Tampa. Outside of Florida, the area with the most condo hotels is Las Vegas, particularly on or near the Las Vegas Strip. Also popular are condo hotels in thriving cities like Chicago, New York and Toronto including nearby areas people from Toronto vacation (cottage country).

Outside the U.S., condo hotels can be found in the Caribbean including resorts in the Bahamas, Turks and Caicos islands and Jamaica. The condo hotel concept has also become popular in Mexico. In the Middle East, Dubai is the dominant force in the condo hotel market with many five-star resorts under development.


9. Are all condo hotels newly built?
There is a mix of condo hotels that are newly built from the ground up and those that were originally hotels and have been upgraded and converted into condo hotels. Because land in prime locations is so limited and costly, it is possible that condo hotel conversions will eventually outpace new construction condo hotels.


10. How much does a condo hotel unit cost?
That's a little like asking, "How much does a car cost?" The answer, of course, depends on which car, or which condo hotel and which unit. Factors that can influence price are the property's location, the quality of the amenities and the brand name. Individual condo hotel units are priced based on their size, view, floor height, features and furnishings.

Generally speaking, across the entire spectrum of condo hotels, prices can range from $200,000 - $2,000,000.

11. Does it cost extra to purchase a condo hotel using a real estate broker?
No. The price is the same whether you use a realtor or go direct to the property. The seller (developer) pays all realtor costs in the form of a commission. In those cases in which no realtor is involved, the developer either keeps the additional revenue or pays a percentage of it to the property's in-house sales staff.


12. Where are most condo hotel buyers from?
Buyers come from all over the U.S. and from outside the U.S. as well. Because of the weak dollar combined with high property values overseas, many Europeans and Latin Americans find U.S. property extremely appealing. They like the idea of owning a hassle-free vacation home in a prime location in the U.S. that can generate revenue when they're not using it and is likely to appreciate in value over time.

13. Is financing available for purchasing condo hotel units?
Financing for condo hotel units is not difficult to find. Most lenders now are familiar with condo hotels and recognize them as viable real estate investments. Often the condo hotel property itself or your real estate broker can recommend reputable lenders.


14. When is the best time to buy a condo hotel?
The best time to purchase a condo hotel unit is in the early stages of pre-construction. That's when prices are at their lowest, and buyers have the best selection of available units.

Tomorrow at 9:00 AM is Gravenhurst's Famer's Market

Come Savour the Flavour of Muskoka. Established in 1992 in the heart of Ontario's scenic cottage country, the Gravenhurst Farmers' Market has become one of the region's most popular attractions.

As many as 80,000 local residents, cottagers, and tourists frequent the market annually to partake in a broad array of fresh Ontario produce, arts and crafts, and special events. More, visitors can enhance their market experience by exploring Gravenhurst's many excellent shops and restaurants, or enjoying a swim and relaxing picnic at one of the community's lakeside parks.

And following the market visitors can cruise Muskoka's world-famous lakes aboard the Royal Mail Ship Segwun, North America's only remaining fully-operational steamship. All together, a visit to the Gravenhurst Farmers' Market can blossom into a full-day adventure your entire family is sure to enjoy.
 
September Schedule
Wednesday, Sep 07, 2011 9:00am to 2:00pm
Wednesday, Sep 14, 2011 9:00am to 2:00pm
Wednesday, Sep 21, 2011 9:00am to 2:00pm
Wednesday, Sep 28, 2011 9:00am to 2:00pm

Contact Information & Location
Website:www.gravenhurstfarmersmarket.com
Email:andersonproduce@yahoo.ca
Organizer:Gravenhurst Farmer's Market
Contact:Barry Anderson
Phone:705-327 8107
Address:Gravenhurst, Ontario

Have you been hearing about condo hotels but can't decipher all the facts from the hype? Should you invest in a traditional condo or a condo hotel?

Now you can get simplified answers to all your questions.

Condo hotels, also known as condotels and apartotels, are typically high-rise, luxury properties in outstanding locations. You can find them near desirable vacation destinations that are by beaches, golf courses, casinos, theme parks, and more.

Condo Hotel Description 

Condo hotels are a new trend in second home ownership. Buyers can purchase a luxury vacation home at a world-class resort or location while receiving rental income whenever they are not occupying the residence. This helps offset the costs of ownership.

The Appeal of Condo Hotels 

Condo hotels are attractive because they offer a luxurious lifestyle and hassle-free ownership. In addition, low interest rates and a volatile stock market have caused investors to diversify and consider real estate alternatives like condo hotels.

Luxury Amenities & Services
Most condo hotels feature fabulous amenities and guest services of four-star caliber or better. These can include full-service spas, resort-style pools, fine-dining restaurants, and concierges, making them the ultimate vacation getaway.

Receive Rent Revenue
Here's how the condo hotel concept works. You purchase a condominium in a world-class hotel or resort. Use your condo hotel unit when you'd like. 

When you're away, place it in the condo hotel's rental program and receive a portion of the revenue it generates. The condo hotel management company takes care of renting, cleaning and maintaining your unit. They also ensure the smooth operation of the hotel's amenities and services.

A condo hotel is a hassle-free, luxurious second home that generates rent revenue that can help offset the costs of ownership.

Condo Hotel Locations
The condo hotel concept began and currently dominates in places like Miami Beach and Fort Lauderdale in terms of the quality and quantity of condo hotels. However, the concept is becoming popular in other parts of Florida including Orlando, Naples, Fort Myers and the Tampa-Clearwater area.

Condo hotels are also creeping into many other cities outside Florida, such as Las Vegas, Chicago and New York. Condo hotels are even becoming prevalent outside the U.S., particularly in Canada, Panama, Mexico, Costa Rica, the Caribbean, and Dubai, UAE.

They are operated by prestigious hospitality companies like Hilton, Marriott, Starwood, Trump, Four Seasons, Hyatt, Ritz-Carlton and Sonesta.

Condo-hotel owners capitalize on the hotel's brand through their pre established advertising, name recognition, national affiliations, centralized reservation system and management expertise in order to receive a higher and steady rental income versus owners of any other traditional vacation property.

Condo Hotels Versus Traditional Vacation Condos and Single-Family Homes
Condo hotels are not the typical second home. They are fabulously-furnished condominium suites in some of the most famous hotels and resorts in the country. Owners have access to luxurious services and amenities, ranging from state-of-the-art fitness centers and full-service spas to fine dining restaurants and concierge services.

Like a traditional vacation home, owners can use their home when they want (depending on the particular management or hotel brand). However, unlike a traditional home, owners have the option or a mandatory time period where they can participate in the property's rental program and dip into the revenue the home generates. Ownership is 100% hassle-free as all maintenance and rental issues are handled by in-house management company.

Traditional Condos Have Appeal Too
If you plan to live in your residence full-time or use it several months of the year as say your winter home, you may want to consider a traditional condo and avoid any of the usage restrictions imposed on condo hotels.

Condo Hotels Versus Timeshares

With a timeshare, owners are typically allotted just one or two weeks of the year to use their condo. They receive the same calendar weeks unless they go through a process to trade time with someone else.

With a condo hotel unit, owners have deeded ownership to their condo and can usually use it when they want (within the guidelines of the rental program agreement).

Furthermore, when they're not using it and the hotel is able to rent the room, the owner receives a portion -- usually in the 50% range - of the rent revenue.

Finally, timeshares can be difficult to resell, even if the seller is willing to take a loss. Condo hotels, on the other hand, because of their prime locations, limited inventory and upscale quality, are a highly-desired commodity. They are more likely to appreciate over time and can be readily resold.

Condo Hotel Buyers

Typically, condo hotel buyers are vacationers who appreciate the many wonderful amenities available at luxury resorts or just the prime location. They may also recognize the appreciation potential of a revenue-generating vacation home.

The appeal is not limited to U.S. buyers. The concept has received international attention. Condo hotels are particularly attractive to international investors who wish to have a vacation home but don't want the hassles of caring for that home or renting it out when they're not using it. In particular, buyers from Latin America and Europe are competing with Americans for the best properties.

Additionally, the weakness of the dollar has enabled many international investors such as those from Europe to obtain upscale condo hotel units for what amounts to bargain prices.

See What’s Available
Before you buy a condo hotel unit or traditional condo, there's a lot you should know. How do you find the best properties? How do you select one that is likely to appreciate? Which amenities are most important? Where can you find financing?

Condo Hotel Prices
Prices for condo hotel units vary based on location, size, features and amenities. They typically range from $300,000 to over $1 million for prime properties. Popular cities like Miami Beach and Las Vegas have some of the highest prices while bargains can still be had in less well-known locales and also in countries outside of the U.S. like Mexico, Panama, the Caribbean and Dubai.

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

Condo Hotel Financing
Now that the concept has become accepted and well-known, U.S. lenders have been readily making loans on condo hotels, both to domestic as well as international buyers. Rates are slightly higher than for primary residences. Typically 20% to 30% down is required.

Are Condo Hotels Investments?
The Securities and Exchange Commission (SEC) does not permit developers or realtors to sell condo hotels as investments. They are sold simply as vacation homes and a "lifestyle," and no income projections can be provided. Nonetheless, many buyers are interested in the investment potential of condo hotels. Some of the factors they take into consideration are:

•    Rent Revenue: Condo hotel units will produce rent revenue. That revenue can partially or completely offset the costs of owning and maintaining the vacation home.
•    Appreciation potential: Most condo hotels are located in areas that have seen the highest appreciation rates
•    Diminished supply of available land: Desirable locations to build are few and far between. A dwindling supply of available land in key markets, particularly sites along the ocean in Florida, popular lakes in Canada and on the Strip in Las Vegas, help ensure that condo hotels, like other types of real estate built in these locales, see significant capital appreciation.
•    Real estate as a stock market alternative: Many people seek to diversify their financial holdings, combining stock market investments with real estate holdings.

Best Time to Purchase a Condo Hotel
Unit 
Buyers who purchase a condo hotel unit in early pre-construction phases or during builder's blowouts, when prices are lowest, have the best chance of seeing their investment appreciate. There is a limited inventory of condo hotels, and many properties actually sell out in the pre-construction phase.

As word continues to spread about condo hotels, more and more investors from around the country and around the world are learning of this new real estate trend and looking to participate. In addition, millions of baby boomers are approaching retirement and seeking second homes for their personal enjoyment. Demand is increasing. But so is inventory as developers recognize the benefits of creating a mixed-use property and seek to meet that growing demand .

The Dynamic Condo Hotel Market


The condo hotel marketplace is constantly changing as new properties become available and others are sold out. To find out what properties are currently on the market and to be able to purchase when prices in a development are at first tier and selection is greatest, choose to work with a realtor who specializes in condo hotels. He or she can help you define the type of property that will best suit your needs and identify specific condo hotels for your consideration.

Thrive on Long Stays

Discover The Residence at Muskoka Wharf, Gravenhurst, a unique Muskoka, Ontario hotel. While searching for Muskoka hotels in Gravenhurst Ontario, you'll be delighted to find this hotel situated on the shores of beautiful Lake Muskoka, and located just 90 minutes north of Toronto.

Our Muskoka hotel in Gravenhurst offers complimentary breakfast, high-speed Internet access and is pet friendly. Stroll down the Wharf's boardwalk and dine at Regatta Steak & Seafood Grille or Boston Pizza. Discover the unique attractions that Muskoka has to offer, such as Santa's Village, Hardy Lake hiking trails, Muskoka Bay Club golfing, the Muskoka Heritage Centre and Museum or a cruise aboard RMS Segwun, North America's oldest operating steamship.

All attractions are just minutes from our Muskoka hotel in Gravenhurst Ontario. Experience the Residence at Muskoka Wharf hotel and see why we strive to be the number one choice when choosing hotels in Gravenhurst Muskoka for your vacation, business trip or corporate retreat.

Just where exactly do we start with events at Muskoka Wharf? There are plenty occurring every day over this beautiful summer period, to whittle it all down seems plain crazy! For example, tomorrow, a run of the mill Wednesday you could get down to the Farmers Market that takes place weekly in Gravenhurst. In fact there are famers markets happening daily until Monday next week. Is your stomach rumbling yet? 

If you are partial to bright lights and good movies then the next event at Muskoka Wharf could tickle your fancy... Film North, Huntsville International Film Festival is a fantastic place for upcoming Canadian filmakers to showcase their material. This takes place from September 22-24 - just after the Toronto Film Festival so there are sure to be a few stars about, get your people-watching glasses at the ready!

Coming up later in September also at Muskoka Wharf is the Muskoka Bicycle Festival who celebrate everything and everyone bicycle! Here you will find lots of musical entertainment, bicycle rides and fitness information floating around - perfect after that long summer indulging at Muskoka Wharf!

 

Overall there is plenty to keep both you and your family entertained at Muskoka Wharf, the cottage life is destined for everyone. This million-dollar lifestyle is not out of reach in any way for you, contact us today to find out how you can get a free tour of the condos at Muskoka Wharf and grab one now at a snippet of the original price - 25% off!

Sign up for your FREE tour here or take a virtual tour! 

 

The simple question is - is your time now?

 

Muskoka Wharf is the place to be right now, the gateway to Ontario's Recreational Region, what is destined to be the geographical and social center of the Lake Muskoka region so where are you? Grab yourself a two bedroom, 2 bathroom condo starting from only $268,800. This is a 'builder blowout' so once these properties are gone they are gone. 

The Greavette is part of a 30 acre development at Muskoka Wharf which is located at Highway 169 and Gravenhurst. Situated only 90 minutes from Toronto overlooking Lake Muskoka, you get to experience that laid-back lifestyle that cottage country has to offer while at the same time you're never too far away from the city. 

 

Situated only steps away from the waterfront this gives you a chance to really experience the leisure of life. Muskoka Wharf offers the slow pace style of life that you crave when living the city. Stroll along Lake Muskoka, potter around the farmers market after going for a bike ride around the country area. Really the decision is up to you - but the main thing is, you have a lot of choice! Gravenhurst is the gateway to Ontario's Recreational Center so why would you miss out on this opportunity - grab yourself a condo here while they are still available. Trust us they are selling like hotcakes, now with only four left!!!! 

 

Book yourself a FREE TOUR here and discover the magic of Muskoka Wharf.

It is that giant elephant in the room that nobody wants to talk about - how bad do you want a place in cottage country to call your own? During the summer months people who own properties there never stop going on about it and those who don't, well they just dream of Lake Muskoka and all it has to offer. Which side are you on?

The time has come for you to join that club and fulfil that dream of owning a piece of lakefront real estate. Situated only 90 minutes from Toronto, Gravenhurst, the gateway to Muskoka gives you that coveted 'Muskoka experience' without the hassle. This is your opportunity to actually participate in 'cottage time' and soak up that lifestyle. 

Does the idea of cleaning and maintenance fees put you off buying a cottage simply because of the hassle factor? What if there was an option to purchase a condo in a condo hotel which not only takes the maintenance weight off your shoulders' but also offers you the choice to show up at Muskoka Wharf and begin your vacation the minute you get there - the way every vacation should be! 

What does condo ownership entail? Basically what it means is that you are buying a suite at a hotel, therefore your room is clean when you get there, the hotel staff are your staff and your breakfast is made when you wake in the mornings - doesn't this sound like paradise! Owning a condo at Muskoka Wharf also gives you the added benefit of building up some extra income during the down time when your not using the property, a perfect way to build up some more finances. These condos in this desirable cottage destination are selling like hotcakes so our advice? Get in there stat. 

Don't let yourself miss out on this luxurious cottage experience in Gravenhurst on the southeastern bay of Lake Muskoka. 

Take a boat ride on North America's famous steam ship the RMS Segwun and breath it all in. Cottage time is here. 

We felt lazy and relaxed. How could you not? The breezes are balmy, the living is laidback, and everything revolves around the sparkling water. And yet there is an unmistakable energy here, a vibrancy that says Gravenhurst’s Muskoka Wharf is the place to be.



Gravenhurst’s fortunes have always been linked to its waterfront. The history of Gravenhurst and its wharf march in lock step, developments in one having always affected the other. As went the Muskoka Wharf, so went Gravenhurst.

In the very beginning, the wharves built by James McCabe along the shores of Muskoka Bay served as stepping-off points into the wilds of Muskoka. Businesses in the form of hotels, taverns, stores and shipping interests began to cater to this slow but steady trickle of homesteaders, and consequently Gravenhurst developed along the shores of Lake Muskoka. It should therefore come as little surprise that Gravenhurst was originally known as McCabe’s Landings.

Activity along the Wharf reached a fevered pitch once the railway reached Gravenhurst in August 1875. On September 28, the first railway hissed and steamed its way into town. Two months later, a spur line down to the lakeshore was built.

It was this time that Muskoka Wharf truly was born. The southestern shoreline of Muskoka Bay was artificially extended with massive cribwork and fill to form a true wharf within the sheltered inlet. 

After the railway was introduced, the wharf was a bon to industry and settlement in the region. Hundredes if not thousands, of settlers passes through every year for almost two decades, and were joined by an equal number of summr tourists.

Muskoka Wharf remained a hive of activity and industry until the dawn of the automobile in the 1930s, driving trains, steamships and the wharf to the edge of extinction. One by one, trains to Gravenhurst were cancelled and ships were retired from service.

It was inevitable that Gravenhurst would feel the loss, and not just on a sentimental level. The wharf had brought prosperity, luring thousands of tourists even in the waning years of the steamship era. In time Gravenhurst recovered, but it was never the same.

Unitl now, that it. In the last decade, an 89-acre development featuring boutique shops, restaurants, playgrounds and sporting fields, and lakeside boardwalks has restored a luster to Muskoka Wharf not seen since the days when Gravenhurst was known as the Gateway to Muskoka.

The development has transformed a moribund waterfront into perhaps the coolest spot in Muskoka. At one point in the past Gravenhurst was the heart f the region. Its pulse slowed for a while with the demise of the lumber industry and the decline of the steamships, but now the beat is most definitely back.

This story is a collection from the original article written by Andrew Hind and Maria Da Silva.

For a full copy of the story read Andrew Hind and Maria Da Silva’s article on page six of Sideroads of Muskoka – Summer 2011.

Thrive on Long Stays

Discover The Residence at Muskoka Wharf, Gravenhurst, a unique Muskoka, Ontario hotel. While searching for Muskoka hotels in Gravenhurst Ontario, you'll be delighted to find this hotel situated on the shores of beautiful Lake Muskoka, and located just 90 minutes north of Toronto.


Our Muskoka hotel in Gravenhurst offers complimentary breakfast, high-speed Internet access and is pet friendly. Stroll down the Wharf's boardwalk and dine at Regatta Steak & Seafood Grille or Boston Pizza.

Discover the unique attractions that Muskoka has to offer, such as Santa's Village, Hardy Lake hiking trails, Muskoka Bay Club golfing, the Muskoka Heritage Centre and Museum or a cruise aboard RMS Segwun, North America's oldest operating steamship.

All attractions are just minutes from our Muskoka hotel in Gravenhurst Ontario.

Experience the Residence at Muskoka Wharf hotel and see why we strive to be the number one choice when choosing hotels in Gravenhurst Muskoka for your vacation, business trip or corporate retreat.