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Answer
To Underutilized Hotel Capacity?
What to do when one’s hotel occupancy
is declining and the debt burden becomes onerous? Follow Donald Trump’s
example, who in 1997 opened the condo-hotel Trump International Hotel
& Tower in New York.
For developers it’s a growing, popular
way to address the huge amount of underutilized hotel portfolios around
the country.
Buyers
are willing to pay typically 40% to 60% more for a condo that has access
to hotel amenities. And willing owners can put their units in the hotel-room
rental pool while they’re not using them, thus getting a portion
of the proceeds.
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