What is a Branded Hotel Residence and Why is it the Smartest Way to Own Real Estate?
A branded hotel residence is simply a residential home that is “branded” by a hotelier with a global reach and reputation and located within a hotel or resort development. Owners of this kind of real estate in Costa Rica have access to all of the amenities and services afforded to hotel guests, and in many cases receive special owner privileges and discounts at their home property. Marriott, Hyatt, Hilton, W, and Four Seasons all offer private whole ownership residences in some of the most sought after locations in the world. Although hotel rental programs are sometimes available for owners who do not wish to live in their hotel residence full time, whether owners chose to participate in the hotel rental program or not, there are many benefits to owning a branded hotel residence that make it by far the smartest and safest way to own a home.
Confidence that High Quality Construction, Materials and Furnishings will be Used: Branded hotel residences are built to meet or exceed international hotel standards for luxury, quality and safety. The hotelier that owners of hotel residences partner with have a global reputation to live up to and they require that only the most reputable designers, architects and landscape planners are used in the design and construction process. Today’s discerning traveler has come to expect and depend on the high level of quality of finishes, amenities, and service that these leading brands provide. It is for this reason that the hotel companies oversee every aspect of the design, development and construction process to be sure it meets with their approval.
Peace of Mind: Hotel residences offer piece of mind and tremendous ease of ownership. Owners are able to leave their home unattended for any length of time and know that it will be safely taken care of, cleaned, inspected, maintained and ready for use again upon the owners return. The home is always ready to be occupied and the owner only has to make one phone call to have everything ready on the day of arrival. Many hotels even offer to furnish and equip the home with premium furniture and bedding; which is periodically replaced when needed so the home is always kept in great condition, even after many years of ownership.
Hassle Free Home Ownership: The resort manager of a hotel residence will often pay all home expenses, local filings, and utilities on behalf of the owner. Monthly accounting services are often provided and, if applicable, surpluses are sent directly to the owner. All of the day to day management, operation, paperwork, accounting and upkeep for your home is taken care of by a professional and reputable management company. This is especially helpful outside the USA where laws are different and having a reliable and trustworthy representative is paramount.
Resort Amenities and First Class Service: Owners of branded hotel residences often receive full access to the resort property and can take advantage of all hotel services such as 24 hour room service, airport transportation, concierge services for booking activities, use of hotel laundry facilities, grocery and provisioning services, and daily maid service. Owning within a branded resort is like living on vacation, each and every day. The option of not having to clean your home, do laundry, cook or wash the dishes is very appealing and rarely found outside of hotel communities.
Hotel Loyalty Program Benefits: Owners of a hotel residence often receive high level status within the hotel brand’s loyalty program. This allows owners to receive multiple benefits and privileges every time they travel to other branded hotels and resorts around the world. This status is usually provided for as long as you own your residence. Owners receive access to thousands of new destinations and tens of millions of hotel loyalty guests worldwide.
A home is a very valuable asset, and having a successful international brand look after and manage it provides tremendous value and peace of mind.
If you would like more information about branded hotel residences the following report produced by Graham Associates provides a very detailed overview on the topic.
VIEW THE REPORT by GRAHAM ASSOCIATES
For Some of the Most FAQ’s: This link produced by Hotel Homes provides answers to many frequently asked questions including the differences between whole ownership branded hotel residences and other forms of ownership.
On a final note; I am always available to address any questions or concerns that you might have, and I encourage you to reach out to me should you wish to have an in-depth conversation on any of the points above.