how does high end hotel private residence work? Is the price you pay only getting you the right to use?
[{"id": "eeg5dnx", "text": "Its like owning a condo with hotel level service. The fees are higher to cover the hotel services and amenities. Amenities are all the hotel amenities, private concierge, maid service, turn down service, room service, access to fitness club, spa, etc", "replies": [], "depth": 1}, {"id": "eehlh5u", "text": "Well any of them can be different but in general you own it just like a condo. The differences being that the monthly fees are MUCH higher to pay the hotel level service and you can allow the hotel to rent it out any days you are not there. So you can collect income. \n\nI know some people who bought in trump tower chicago. Early buyers saw a bump in value but you could never cash flow even if you turned it into a full time hotel room. Values have cratered recently.\n\nIt is for people with money to burn who want to live in a hotel but have a \"room\" more like an apartment.", "replies": [], "depth": 1}]