Words of Wisdom on the Condo Hotel Industry
CLEARWATER, Fla. (December 3, 2008)- Applying its own pearls of wisdom,
gleaned from nearly 30 years experience, Provident Hotels & Resorts,
leading full service condominium hotel management organization, is helping
to demystify the condominium hotel industry, one saying at a time.
Here are a few common sense sayings that succinctly and understandably
summarize the do's and don'ts to a successful venture into today's condominium
- YOU REAP WHAT YOU SEW
Create the structure of the condominium development and rental agreement
so they are fair and equitable for both unit owners and developers alike.
Inequitable arrangements will inevitably and always bite you in the you
- A ROLLING STONE GATHERS NO MOSS
Condominium Hotels work best when purchased for multiple reasons, including
personal owner use, enjoyment of superior amenities, plus rental revenue
and appreciation opportunities. They seldom work as stand alone, hands
- A CHAIN IS AS STRONG AS ITS WEAKEST LINK
All aspects of the condominium hotel facility must be carefully considered
on the front end. A deficiency in one area or aspect can weaken the entire
future operation of the project.
- A HOUSE DIVIDED CANNOT STAND
Hotel Management must find a way to successfully coexist with the unit
owners and the homeowner association.
- CHOOSE YOUR NEIGHBORS BEFORE YOU BUY YOUR HOME
Location, location, location. Condo hotels generally work best in leisure
vacation home destinations.
- IF YOU DO WHAT YOU HAVE ALWAYS DONE, YOU WILL GET WHAT YOU ALWAYS
Every condo hotel is different from one another and can be improved
upon. You must learn from your experiences, be creative and adapt
to what you have learned.
- EXPERIENCE IS THE MOTHER OF WISDOM
There is no substitute for hands on experience in a very complex environment
- GIVE A MAN A FISH AND YOU'LL FEED HIM FOR A DAY, TEACH A MAN TO FISH
AND YOU'LL FEED HIM FOR LIFE
If you don't know the intricacies of the condominium hotel industry,
find someone who does, and then substantiate it. The world is full of self-professed
"experts," but experience is key.
Entering the condominium hotel industry in 1980, Provident has handled
purpose-built and conversion properties in various markets including Tampa,
Orlando, Miami, the Florida Keys, Hawaii and Calif. Provident's continued
success is attributed to unmatched insight into the needs and requirements
of this demanding industry, so that both property developers and unit owners
achieve satisfying and profitable results. As an advocate for the industry,
principals of the company are often keynote speakers on a national level.
For more information on Provident Hotels & Resorts, visit www.providentresorts.com.