When going on vacation, there are many different options available for lodging. In the case of vacation home ownership, many people are familiar with timeshares, but recently another option has come into the picture – condo hotels. What are the major differences between the two and how are they similar? We uncover the differences and similarities between timeshares and condo hotels.
Timeshares and Condo Hotels Similarities
Timeshares and condo hotels have many similarities, including:
- Both are traditionally sold fully furnished, which is built into the price
- Timeshares and condo hotels are located in desirable locations and resort areas
- Both options allow you to find your own renters if necessary
When it comes to a developer, construction or interior design company furnishing timeshares and condo hotels, the main differences will be in design and luxury. While timeshares and condo hotels share some similarities, they are also very different.
Differences Between Timeshares and Condo Hotels
One of the main differences in buying timeshares and condo hotels comes in the flexibility of use. When purchasing a timeshare, you choose a specific location and set week or two you will use your vacation home each year. In purchasing a condo hotel, you have the flexibility to use your unit whenever you want, though there are usually restrictions that prohibit making it a permanent residence.
In choosing a timeshare, your amenities may be limited to use of the swimming pool and other common areas. Choosing a condo hotel provides you access to those amenities as well as those you would traditionally find at a luxury hotel such as restaurants, lounges, spas, exercise facilities and bars. Also similar to a hotel, you have access to daily housekeeping, maintenance services, room service and more. At a timeshare you’re responsible housekeeping and unit upkeep during your stay.
Another difference in owning timeshares and condo hotels comes in price. Owning a condo hotel gives you deeded ownership to the property. Condo hotels are typically more expensive, but that price difference usually goes into unit enhancement rather than commissions typical of timeshares. With a timeshare, you’re only purchasing one to two weeks of usage. During the time you’re not staying at the timeshare, you can’t generate any revenue, unlike a condo hotel. When not staying at a condo hotel, your unit can be entered into the management’s rental program.
Whether furnishing a timeshare or a condo hotel, Northland Furniture Company has the talent and experience necessary to create the environment you desire for your owners. Contact us to learn more about our custom timeshare and condo hotel furniture.