Having arrived in the past few years, resort condos are, though fairly new in Vietnam, growing rapidly with the mushrooming number of resort projects. This pattern in Vietnam has developed a variety of customer benefits, such as the latest E-condotel.

Born in South Florida (U.S) in the early 1980s, Condotel has been expanded as a contemporary “hottest” trend in the tourist property market. Condotel is a type of tourist property or, accurately speaking, provides a second home to serve demands of luxury leisure. Owners of condotels are not only “uptown” individuals but successful people as well.

Condotel, a popular trend …

Unlike a traditional resort apartment, Condotel, or Condo hotel, is a condo built and operated as a luxury hotel. Owners can make profits from leasing the condotels as participants in the leasing program by the Condotel management. Moreover, as Condotel is put under management, attention, maintenance and leasing by a 4 to 5 star professional administrator, it becomes popular because buyers are free from concerns of caring or wasting during their absence.

In 2006, hundred millions of dollars were poured into Condotel projects in the U.S, most of which were located in coastal resorts. Also in this year, McCabe Research and Consulting, an American provider of real estate study, analysis, forecast and consultancy, presented its finding of Condotel growth pace. Particularly, famous condotels had 2-digit growth rate. Besides, condotels are preferred to conventional resort apartments.

… and inevitable success
On its birth, Condotel has spreaded in not only the U.S but many other nations. In Philippines, it exsits in the form of Condotel Boracay resort. Condotel succeeds as it meets owners’ desire in two aspects:
In respect to recreation, it eliminates the tradition of renting narrow hotel rooms. Condotel is truly a private luxury house with sufficient function rooms (kitchen, living room, balcony …) and commodious space for family members to fully relax and refresh at weekends. In addition, Condotels are entrusted in the hands of Expert Managers who look after and maintain condos in their best state and readiness for owners to stay anytime.
Not only is it chosen for its leisure plans, Condotel is also an effective, sustainable and secure investment. Owners can consign their condotels to the Manager for lease during their absence. On professional lease, Condotel profits owners to reclaim the investment and make earnings. Besides, the liquidity of real estate is on the hike. A practical study showed that a property on lease grows in value faster and further than other ordinary estates.

The reality of many large-scale Condotel projects in Vietnam proves its development. Beyond its original form, Vietnam’s Condotel trend grows greater to E-condotel in the Ocean Vista project, whose main investor is Rang Dong group, to deliver more benefits to owners of condos.
More benefits with E-condotel

E-condotel provides not only the facilities of a Condotel but also the Exchange of resorts, which is a brand new concept in Vietnam. It debuted in 2009 through Sea Links Vacation Ownership from Rang Dong group, which allows owners of Condotels to exchange their annual 7 days at current places for a vacation at a different area or resort (e.g. Caribbean, Italy, U.S, Australia, Singapore, France …). The exchange list has 6,000 resorts in five continents on Earth. Specially, this privilege lasts in 20 years.

Priviledged to exchange leisure locations, owners of Condotels pay nothing for accommodation and relaxation in various resorts in world-wide resorts, to diversify recreation places and enhance the experience. Moreover, this priviledge is available to a group of family members without any charge. This group may include 2 to 6 individuals according to the size of the condo … For its benefits and useful priviledge, E-condotel is a creative mixture of Condotel and Exchange, offering owners to exchange world-wide leisure and making rental profits. This pattern is the most advanced with lowest initial cost, available only in Ocean Vista project in Phan Thiet (Binh Thuan, Vietnam)