Impact Factor (2025): 6.9
DOI Prefix: 10.47001/IRJIET
Impact Factor (2025): 6.9
DOI Prefix: 10.47001/IRJIET
The stiff competition in the real
estate industry is due to the mushrooming of small, medium, and big size
developers, specifically in the Western Visayas region, in addition the global
pandemic that hit the country prevented T Company in moving its project
inventory in Aklan, for almost a year now. Therefore this resulted in negative
cash flow and the company was able to survive only through the personal
advances of the Board of Directors. This study hopes to address this problem by
proposing a condominium to condotel project conversion. Condominium-hotels or
condotels are high-rise buildings that are developed and operated as a luxury
hotel, but they also have condominium units that serve as fully-functional
vacation homes. Condotel units are a great investment. As a unit owner, you can
live in the unit for about thirty days per year; during this time, you have
access to world-class amenities. For the rest of the year, the hotel management
takes over and rent it out while you earn income from it. Alternately, you can
also live in the unit permanently and enjoy five-star hotel living day in, day
out.
Country : Philippines
IRJIET, Volume 5, Issue 3, March 2021 pp. 45-47
