InnSuites Introduces 'Condotel' to the 'Valley of the Sun' Hospitality Real Estate
PHOENIX, Jan. 12 /PRNewswire/ -- People who want to live like they are on vacation but still want to get involved in the Valley's remarkable real estate and hospitality industries have a new alternative. Phoenix Northern Resort LLC will offer in February the opportunity to purchase condo hotel suites, or "condotels." The appeal of hotel condos has already boomed in Florida and Hawaii and is now expanding to Arizona. Some industry analysts anticipate condominium hotel ownership will displace timeshares as the preferred resort ownership method of the 21st century.
InnSuites is in the process of renovation of the existing InnSuites Phoenix Best Western Hotel and Suites nestled in the shadows of Squaw Peak, at 1615 E. Northern Ave. into luxury studio and suite-sized condominiums available for individual purchase. Owners will enjoy full use of all hotel amenities including the heated pool and Jacuzzi, fitness center, business center, social hour and complimentary hot breakfast -- just like they are on vacation.
If desired, the condo may be rented to other travelers as a traditional hotel suite when its owners are not using it. The homeowners association and a professional management company handles marketing, reservations, maintenance, billing and other details while sharing the proceeds with the condominium owner.
"This is an ideal opportunity for a person to get the best of both worlds -- enjoying the convenience of a maintenance-free vacation resort lifestyle in beautiful Phoenix, while still getting involved in the real estate market at a very affordable price," said Pamela Barnhill, Vice-President, Development.
Condo hotel units are expected to start from the $160's, with 109 units available for purchase and no limitation on the maximum number of units a buyer's extended family may purchase.
Condo hotels are not timeshares or fractional ownership where owners are typically allotted a few weeks of the year to use their unit. Each owner actually owns their individual hotel studio or suite plus an undivided interest in the entire suite hotel project's public areas as well as the valuable Northeast Central Phoenix land for vacation use and long-term real estate value.
Typically, condo hotel buyers are vacationers who appreciate the abundant services and hotel amenities available in resort areas as well as buyers who recognize the appreciation potential of a revenue-generating vacation home.
Today's residential real estate market with relatively low interest rates and a deeded fee simple ownership compares favorably with savings accounts or a volatile stock market. Because the concept differs from traditional vacation home ownerships, InnSuites is offering a complimentary seminar January 17, 2006 at 11a.m. to answer questions about purchasing a condo unit hotel. RSVP to 602.997.6285 x407 to attend.
About InnSuites Hotels & Suites InnSuites Hotels Inc (InnSuites), part of InnSuites Hospitality Trust (AMEX:IHT), was founded and is headquartered in Phoenix, Arizona. InnSuites owns and manages or licenses 11 hotels throughout the southwest including properties in Arizona, New Mexico, Texas and California.
Sales are by Rare Earth Development Company, dba Rare Earth Realty, an Arizona Corporation that has handled over $100 million in condominium and other real estate since 1972 licensed in the State of Arizona. This is not available to residents of any state or province in which registration and other legal requirements have not been fulfilled.
For InnSuites hotel suite reservations, visit http://www.innsuites.com/ or call 1-888-INNSUITES. For more condo hotel information and registration at no obligation, visit http://www.condohotelvacation.com/ and/or call Pamela at 602.997.6285 x407. DATASOURCE: InnSuites Hotels & Suites CONTACT: Pamela Barnhill of InnSuites Hotel & Suites Phoenix, +1-602-997-6285, ext. 407, Web site: http://www.condohotelvacation.com/ Web site: http://www.innsuites.com/
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