What is a Condo-Hotel?
Condo-Hotels got their start in the 70s in Arizona but didn’t take off until the mid 90s in places like Miami and Fort Lauderdale. Today they're popping up around the world - in Orlando, Vail, Las Vegas, New York, Vancouver, Washington DC, Dubai, and now Blacksburg. The Hotel part of Condo-Hotel is that, while the property is made up of condos, the overall facility operates as a Full Service Luxury Hotel.
What are the benefits of owning a Hotel-Condo?
Owners at a Collegiate Inn Condo-Hotel will own a part of what will always be the areas preeminent hotel. To the hotel guest, it will seem just like a hotel - though a lot more luxurious. To the owners, their suite is a luxurious getaway in the heart of their Alma Matter, with access to the hotel's amenities and services, and VIP access to owner only amenities and functions. The owner, or their friends and family, will be able to use their suite and the amenities of the hotel while in town for the weekend, longer vacations, or on business. While away, owners will have the option of placing their suite into the hotel's rental program.
The Collegiate Inn is the ideal solution for people that love getaways to their Alma Matter, come to the area for sports events or other forms of R&R, and just don't want the hassles associated with traditional second home ownership.
Will Collegiate Inn provide lenders for financing?
Yes. Hotel-Condo financing is a unique financing product that requires the lender to have specific knowledge of the industry and related markets. Therefore, Collegiate Inn assembles several sources of end unit financing for each of its projects.
Why do I need to place a reservation instead of entering into a purchase agreement?
We can not provide purchase agreements until the Condominium documents are finalized on a project. Deposits made on reservations are fully refundable while deposits made on purchase agreements are not.
Can I rent my Hotel Condo Unit?
Yes, you can either rent out your unit on your own or choose to join the Rental Program.
What will be included in the purchase price of a unit?
The purchase price of a unit includes the base price of the condo, the furniture package, all linens, as well as room premiums for: 1st floor, pool facing rooms, building position, and room sizes.
How are the rooms finished?
Rooms are finished with: a 42” LCD HD Flat Screen TV, crown molding, Granite bathroom counter tops, Serta Perfect Sleeper Beds, Custom wood furniture made in the US by Sorrentino Mariani including; desk, headboard(s), Armoire, dresser, TV surround, and night stands; Duvet, high quality 250-300 count sheets, and bathroom linens.
When I decide to buy, do you get to pick my unit?
Yes. You will get to pick your unit by placing a reservation and then a purchase agreement.
What do you mean by Hassle-Free Ownership?
It means owning at a Collegiate Inn Hotel is nothing like owning a traditional second home. You don’t take care of your property, it takes care of you. From making the beds, to cleaning the bathrooms, to paying utilities, you don’t have to worry because it is taken care of for you so you can just RELAX.
This is not just real estate!
It's a fully loaded VIP experience when you're in-house and fully taken care of while you're away.
