{"id":860,"date":"2020-01-25T08:33:47","date_gmt":"2020-01-25T08:33:47","guid":{"rendered":"http:\/\/ihmnotessite.com\/?page_id=860"},"modified":"2020-01-25T16:57:39","modified_gmt":"2020-01-25T16:57:39","slug":"condominium-referral-groups","status":"publish","type":"page","link":"https:\/\/ihmnotessite.com\/index.php\/home\/hmct-notes\/bhmct-3rd-year\/front-office-6th-sem\/condominium-referral-groups\/","title":{"rendered":"CONDOMINIUM & REFERRAL GROUPS"},"content":{"rendered":"\t\t
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CONDOMINIUM:<\/strong><\/p>

Condominium units also called as Condo are purchased outright and owned by the guest as second homes. Condominium hotels have single owners instead of multiple owners sharing the hotel. In condominium hotels, the owner informs the management company when they would occupy the unit. The management company is free to rent the unit for the remainder of the year, and this revenue goes to the owner.<\/p>

Owner purchases a unit and has full right of an unit he has purchased and shares the cost common to the complex such as takes, insurance, Maintenance, and upkeep of public areas including swimming, pool, health, clubs, parking, security, air-conditioning, broadband etc. Each owner can occupy or sell his unit independently but is required to follow the rules and regulations laid by the management. In some cases the management can help the owner in renting out the properties.<\/p>

They take full responsibility of the owner\u2019s unit\u2019s safety and also pay to the owner a major portion of the rent earned from renting out. Usually the management request the owner to rent out in case of major conferences. The management earns a major portion by renting out conferences hall and from catering. The Resorts and condominium inns group of Singapore are among the most popular example of such properties.<\/p>

REFERRAL GROUPS:<\/strong><\/p>

It consists of independent hotel which have grouped together for some common purpose. Though the properties in the referral group may be different from each other but there is sufficient consistency in the quality of service to satisfy guest expectations. The member hotels recommend guest to other member hotels. Some examples are Best Western international, one of the largest hotel chains, is the best example of referral groups.<\/p>

HOW IT IS DIFFERENT FROM HOTEL BUSINESS? <\/strong><\/p>

Inns\/Sarai\u2019s came in origin many centuries ago and the latest trend of the same is Timeshare. It also comes under the category hotel and falls in the hospitality industry. Usually these hotels\/ timeshare are at resort places and are patronized by the visitors for pleasure purposes. The time share \/vacation ownership gives you right to have yearly vacation with the facility of worldwide exchange. The timeshare slot is sold for a particular week of a year. (Total 52 Slots in a year).<\/p>

Example<\/strong>:<\/p>

Suppose that there is a hotel in Goa with 20 apartments. The various apartments of the hotel can be sold to different people for different periods of time for a specific number of years. The total no. of one week allots may be calculated as under:<\/p>

No. of one week slot owners= no of apartments (guest rooms) X No. of weeks in the year. = 20×52=1,040<\/p>

Thus the same property can be sold to 1,040 individual owners for specific time slots during the year. These individuals are the owners for specific time slots during the year. These individuals are the owners of the apartments for that time duration. They can either enjoy their time slots or can rent them out to a management company to run the hotel.<\/p>

Methods of use <\/strong><\/p>

Owners can: \u00a0<\/strong><\/p>