Orlando Condo Hotel From $175,000 - Positive Cash Flow & Incentives Till 2010

Orlando Condo Hotels are a 10 minute Walk to Sea World and close to Orlando Convention Center, walking distance to SeaWorld's new high tech water park, the largest water park in the world, completion Mar 2008

• Minutes to Orlando Convention Center
  
• On Westwood Blvd & International Drive.  I-drive premium outlets is the most visited mall in the U.S. by square footage
• Train station next to hotel - connecting to Orlando airport, Daytona, Tampa Bay and eventually to Miami

Sea World, Discovery Cove & Aquatica
The condo hotel is down the street from Sea World Orlando, home of the marine inspired adventure parks.

Sea World Orlando is the world's premier marine adventure park with 200 acres of world-class shows, thrilling rides, and unforgettable animal encounters.

Discovery Cove is a tropical paradise where guests enjoy interacting with dolphins, birds, fish and sting rays, allowing the guest to enjoy an authentic natural experience in a relaxing and intimate setting.

Under construction is Aquatica, set to open early 2008. Aquaticais anticipated to be the ultimate top of the line water playground enhanced by animal attractions.

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• $1463/52% = $2871 per month required
  
• Guesstimate of room rates in 2010 = $225 per night
  

• Expected nights per month to break even = 12 to 13 nights a month
• Excess nights in the month that room is rented = positive cash flow

Number of excess nights required to earn back initial down payment is 117 nights. 

Assuming 10 excess nights a month, initial down payment payback period would be less than 12 months in 2010.

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• 28 Acres - an Island Oasis - secluded from Downtown's hustle & bustle
• 3 large pools, 2 kids pools, Jacuzzi, Bar
• Adults - Spa & Fitness, Outdoor Hammocks and bungalows for  spa treatments
• Kids - Game room, Mini Golf, Playground
  
• Business - 60,000 square feet meeting space, first 2 floors for meetings, conferences, lots of common areas
• 1100 Units

Amenities

• Three expansive swimming pools amid a tropical landscape
• Lagoon pool with waterfall
• Future Trader Vic's signature restaurant
• On site L'Espiritfull-service spa
• Various on-site casual dining options
• Pool side food and beverage service
  
• 24-hour security
  
• Multi-level lounge
  
• Complete fitness center
  
• Clothing and souvenir boutique
  
• Game room
• Pool side food and beverage service
  
• 24-hour security
• Multi-level lounge
  
• Complete fitness center
  
• Clothing and souvenir boutique
  
• Game room
  
• Concierge & 24-hour front and guest services desk
  
• Daily maid and room service
  
• Children's jungle gym & miniature golf course
  
• Transportation to all theme parks
  
• Referral babysitting services
  
• Car rental and tour services
  
• Comprehensive business center
  
• Over 60,000 sq ft of flexible event space
  

  

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We've normally been very cautious of condo hotels as it's hard to make the numbers cash flow due to the high price points, until this one. 

With a $170,000 price point and a location right across Sea World and minutes to the Convention Center, and hassle free ownership until 2010, this project looks too good to pass up, with built in price appreciation through developer phased price increases and solid positive cash flow potential.

The hotel is being transformed into a first class hotel condominium and is one of the most exciting positive cash flow real estate opportunities today

The developer plans to transform the property into a luxurious tropical oasis in the heart of Orlando's Tourism and Convention District

This first class hotel condominium is already an existing and successful hotel with an incredible location and a 20 year history of successful operations

Estimated Expenses in 2010

• Rental Revenue split 52% to owner (estimate at this time)

Expenses:

• Maintenance $1.12c/ft = $394 per month
• Mortgage = 7% at 90% = $892 per month
• Rental Management = 42% of Revenues
• Taxes = 1.25% = $177 per month
• Total Estimated Mortgage/Maint/Taxes = $1463 per month

Property Management Options

• Can own it fee simple and rent out on your own or close like a normal condo, or
• Join Rental Program with Developer's Management Company

A hotel condominium is a fee simple real estate opportunity withthe first class features and amenities of a hotel, such as restaurants, a spa, room service, daily maid service, concierge, and valet parking

Each fully furnished and equipped condominium unit can be rented as a hotel room, either by the owner directly or through an independent program

Purchasers generally have full access to all of the hotel facilities and are able to use the upscale hotel services offered at the resort

Hotel condominiums are most successful in destination cities such as Las Vegas, New York, and Orlando, that enjoy a consistent tourism industry as well as a thriving economy

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Central Florida has one of the world's busiest convention centers and more hotel rooms than some cities have people-Orlando Sentinel

The Orange County Convention Center recently surpassed Chicago, and now ranks 2nd only to Las Vegas in prime exhibit space

'It looks like a very promising year' A solid U.S. economy bodes well for Central Florida's hotel and convention industries. -Orlando Sentinel

The Orange County Convention Center has bookings until 2029, with an increase in total events of 46% last year

10 million Business Travelers come to Orlando annually, 5.8 million to a convention

Home to 7 of the top 10 theme parks in the U.S. -Amusement Business

Over 95 attractions including Walt Disney World, Universal Studios , and Sea World, it would take 63, 8 hr days to experience them all

World-class Hospitality (The service culture is a way of life) 1 out of 4 work in the tourism industry

Dining (4,500 restaurants, over 50 upscale within a 10 mile radius of the Orange County Convention Center)

Golf Capital of the World (over 207 golf courses & 800 tennis courts)

An absolute shopping Mecca with 52 million sq ft of retail spacethat includes some of the best designer outlet shopping in the country

Luxury shopping malls including The Florida Mall & The Mall at Millenia

A Boating, Fishing & Water Sports Paradise (One of the highest concentration of lakes in the continental USA)

With the Orlando Magic, Tampa Bay Bucks, Tampa Devil Rays, Jacksonville Jaguars, Florida Marlins, Florida Gators, Professional Baseball's Spring Training and the Daytona 500 -Orlando's a sport lovers dream

An Average Week in Metro Orlando
·1,249 new residents, 756 New Jobs
·654 Residential building permits
·460,577 Out-of-state and foreign visitors
·456,712 In state visitors Orlando Business

·The Metro Orlando area boasts a $13.4 billion technology industry that employs close to 53,000 people·

"Most desirable place to live." -Harris Poll

·BusinessWeekcalls Orlando "fiercely competitive"and a "global hot spot"for business

·Young workforce -the region's median age is 34, one out of two people have completed some college

·Orlando Set To Dominate Condo Hotel Market -American Chronicle

·Downtown Orlando Undergoing Transformation of Thrill-Riding Proportions; Among the Largest of Dozens of Downtown Revitalizations Across the Country -Metro Orlando Economic Development Commission

Florida:
National Census·44% of 80 million Baby Boomers plan on retiring in the South East sector of the U.S. -Del Webb

·17.5 million people already live in Florida, with nearly 1,000 new residents arriving daily -FloridaTrend.com

·Florida tops the nation in number of new residents from other states -Tallahassee Democrat

·Annual average temperature of 70 degrees F / 21 C·Less than 60 miles from the beach from any place in the state

·Florida boasts more golf courses, 1,370 and counting, than any other state in the U.S. --Visit Florida

·Tourism has an economic impact of $57 billion on Florida's economy and with over 76.8 million visitors; it has been named the #1 tourism destination in the world. -StateOfFlorida.com

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