Yuk, Kondotel Investment on the Island of the Gods!
Condotel, or so-called condo only, is an abbreviation of condominium-hotel. Basically, kondotel is a hotel whose unit is owned by several different people.
As a hotel, Condotel has a wide selection of units, ranging from studios to suites. Condotel is called because the unit owner has the right to use the unit for free, with the number of days determined per year.
Usually at the end of the year, or any agreed period, the owner of the unit will get a share of the rental profit of the unit. The system also varies: some are calculated based on the frequency of the leased unit, others are divided equally (as per percentage / unit type), regardless of which units are sold every year.
But the trend shift to make kondotel now not only in the form rumah idaman of vertical buildings, but rather leads to the home tread with the concept of touch villas.
Usually the location of the condotel is located not far from the center of tourism, such as in Bali, Bandung, Bogor, and even Belitung are now being targeted holidaymakers of foreign and local tourists.
Facilities provided also vary, ranging from swimming pools, spas, restaurants, meeting rooms, fitness center, playground, which, when seen almost no different from star hotels.
According to the vice principle of Century 21 Metro and Century Metro 1 Kota Harapan Indah, condotel type properties arise due to the increasingly widespread hotel growth.
Generally, condotel can only be used by pemiilik seven times a year. That means, the owner is not free to occupy it at any time because of the status that must be rented to tourists.
Condotel profit should also be shared with the operator who manages. Generally, profit sharing is 70% for investors and 30% for operators. But if you observe the break even point (BEP), Condotel more promising results fast.
In Bali, investors condotel investors can reach this BEP within a period of 2 years only.
“The maximum of seven years can break even. But if the location is strategic and located near interesting tourist attraction, it is possible 2 to 3 years can be achieved BEP, “said Yohan.
Another interesting side of kondotel is the provision of a guarantee of ROI (Return of Investment) worth 8% per year, within the first three years. So, suppose investors buy a kondotel worth Rp800 Million, then the ROI earned each year is Rp64 million.
One of the rooms faces directly to the pool. This is the room at the existing Condotel in Bali Harmony Tibubeneng Villas.
Condotel in Bali
Isny Betty, General Manager of Springhill Condotel at Jimbaran Hijau from Springhills Group points out, this condotel offers rental rates per night around USD150 to USD260. If dirupiahkan, equivalent to Rp1, 97 Million to Rp3, 41 Million.
According to him, some foreign tourists like China and Japan are very fond of Bali, even they are not half-hearted to vacation in Bali for a long time. This is what causes investors to reap huge profits in a short time.
Regarding profit sharing, Isny revealed that the owner will benefit 70%, while the manager of 30%.
Alternative condotel business can be channeled at The Ocean Views resort. Location kondotel adrift 8.6km from Nunggalan Beach, a hidden beach that has a charming charm.
The resort has 16 villa units and 85 apartment units, consisting of one, two and three bedrooms. To pamper tourists and owners who want to stay here, there is a private pool (optional) with a fully furnished space console.
While shared facilities include restaurant, swimming pool, gym area, spa and salon, as well as minimarket.
There is another condotel that is worth considering. Although the concept of Bali Harmony – Tibubeneng Villas looks like an exclusive townhouse, but the property project is rented similar condotel. Therefore, the developers promote it as ‘villatel’ aka villa kondotel.
The developers have appointed Aksata Vila to manage Bali Harmony professionally. So, like a hotel, Bali Harmoni also has house keeping facilities, room service, maintenance, and others.
Thus, the owner can not necessarily live in the property on the basis of his will. However, the owner will get a 21 day stay voucher every year.
If the stay voucher is exhausted, the owner can still stay with a certain amount of deductible compensation from the profit-sharing proceeds.
Interestingly, the Condotel management did not offer 70:30 profit sharing, but based on Nett Operating Profit (Gain Clean Operating Villa) instead of Gross Revenue. The percentage is 80:20 to be divided annually.