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Ever dreamed of owning and managing a luxurious hotel? Now you can, with condotels for sale in the Philippines.
A new type of property that’s trending in the real estate industry is the condotel, a portmanteau of the words “condominium” and “hotel.” A condotel is a real estate project that operates as a hotel, complete with concierge services, maintenance, and luxurious facilities, but are sold to private owners who then profit from the rent paid by guests.
Although the condotel will be under the buyer’s name, the owner cannot reside at the property full time, as it will be operated similarly to a hotel or resort. The unit owner however, earns from the investment as the property is rented out to long- and short-stay guests.
In addition, the management and maintenance of the units will be the responsibility of the hotel chain and not of the owners, making condotels a good source of passive income, especially if the chosen property is situated in a popular tourist destination.
As the Philippines’ tourism industry continues to grow, purchasing a condotel may be a viable investment option for Filipinos. However, it should be noted that similar to the tourism industry, these property types are affected—sometimes severely—by market fluctuations. When the economy is good, people spend on travel and hotels; however, an economic downturn means people will be spending less on leisure. For this reason, would-be investors of condotel projects are advised to pick their locations wisely. Places visited by tourists all-year round would be their best bet.
With that said, Lamudi Philippines has put together a list of upcoming hotels in the Philippines that real estate buyers may consider investing in.
WAVES Beach Club & Residences
Brgy. Panicsican, San Juan, La Union
Built by RLC Realty & Consulting Services and property developer Brightbeam Corporation, WAVES Beach Club & Residences is a Malibu-style, seven-hectare mixed-use development. It consists of residential villas, a condotel and beachfront apartments, and is located in San Juan, La Union, one of the Philippines’ most popular surfing destinations. The development’s condotel components have 114 to 150 units, sold for around Php6 million each. But now, these are sold at higher prices as more people are more inclined to stay here because of its numerous amenities and breathtaking beauty.
As of 2023, Dusit International and its sub-brand dusitD2 Hotels and Resort exclusively partnered with Brightbeam Corporation and NAI RCL Philippines in developing its first branch in North Luzon at WAVES–the dusitD2 Waves Hotel.
Citadines Cebu City
Juana Osmeña St., Baseline Complex, Cebu City
A project by Ascott Ltd, one of the world’s largest serviced residence operators and local developers Cebu Landmasters, Citadines Cebu City is a 180-room hotel on a one-hectare mixed-use development dubbed the Baseline Center Complex. The project’s condotel component has 90 units for sale (fully-furnished studios, one-bedroom apartments, and lofts), with prices starting from around Php 4.4 million way back in 2016. According to the developer, 70 percent of the units have already been sold during its pre-selling period. The project’s target completion year was 2018, and its opening date was 2019.
This 2023, Citadines Cebu City continues to be one of the most sought-after hotels in Cebu City. This three-star hotel continues to have serviced apartments. It has been home to tourists and visitors who are in the area to do business as it is conveniently located near Cebu Business Park and Cebu IT Park.
Serulyan Seascapes Mactan
Seascapes Resort Town, Dapdap, Lapu-Lapu City
Real estate developer Filinvest Premiere launched the two-hectare Serulyan Seascapes Mactan at the Seascapes Resort Town on Mactan Island, Cebu. Comprising of six mid-rise towers, the first tower will be dedicated to Serulyan’s 185 serviced apartment units (starting at 68 sqm), which will be managed by the FilArchipelago Hospitality Inc., the group behind the Crimson Hotel brand. This project is expected to be completed in 2018.
Anya Resort & Residences
Buenavista Hills Road, Tagaytay City
Situated in Tagaytay, a favorite weekend getaway destination for Metro Manila residents, is the Anya Resort & Residences, a boutique residential resort on 7.2 hectares of land along the Buenavista Hills Road. A project by Roxaco Land Corp., this development has 126 luxury, full-serviced condotel units ranging in size from 60 to 90 sqm.
This 2023, Anya Resort & Residences continues to be one of the high-rated four-star hotels in Tagaytay. It is included as a member of the Small Luxury Hotels of the World (SLH) with 500 other hand-picked hotels worldwide.
Novotel Suites Manila
Acqua Private Residences, Coronado St., Mandaluyong
Developed by Century Properties in partnership with global hotel chain Accor Hotels, Novotel Suites is a 41-story condotel tower under construction in the Acqua Private Residences project in Brgy. Hulo, Mandaluyong (along the northern bank of Pasig River). According to the developer’s website, purchasing shares will not only give investors annual earnings, but will also enable them to exchange one of their stays at a similar hotel, in over 3,000 Accor properties worldwide.
Suites offered in this hotel range from standard units (31 square meters) up to premier units (91 square meters). This condotel is perfect for relaxation with plenty of posh lifestyle facilities available. Your tenants can also conduct their business with one of the meetings and events facilities in the project.
Savoy Hotel Mactan Newtown
Newtown Boulevard, Mactan Newtown, Lapu-Lapu City
This 18-story hotel is located in Megaworld’s 30-hectare Mactan Newtown township in Lapu-Lapu City. Savoy Hotel Mactan Newtown is managed by Prestige Hotels and Resorts Inc. (also owned by the Megaworld group). According to the company, the Savoy’s best features include its proximity to Cebu’s main airport and the island’s popular tourist destinations. It is located within a self-contained township project expected to become a 24-hour mini-city over the next few years. Savoy Hotel reportedly has more than 500 suites, priced at approximately Php 200,000 per sqm in 2016.
Currently, units for sale in Savoy Hotel Mactan Newtown are more expensive. With a steady increase in interest in renting properties here, you can reach your ROI in no time when you lease your property.
Vista Suarez Cebu
Gorordo Avenue corner N. Escario St., Cebu City
Along Gorordo Avenue in downtown Cebu City is where you’ll find the two-tower, 32-storey Vista Suarez Cebu, a mixed-use project by Manny Villar’s Vista Residences (and coincidentally their biggest project in the Visayas region). The towers’ 15th to 28th floors house 950 condotel units, which investors can opt to have managed by the company’s Leasing Group and rented out to short- and long-stay guests.
As a mixed-use development with residential, retail, and hotel, owning a property in Vista Suarez translates to a great investment that ensures impressive ROI, especially for entrepreneurs who want to enter the developed market in Cebu.
Fora Tagaytay
Gen. Emilio Aguinaldo Highway, Tagaytay City
Developed by Filinvest Land, Fora Tagaytay is a two-tower, ten-storey condotel project situated along Gen. Aguinaldo Highway. It is one of the structures built on a 5.2-hectare commercial block. Opening in 2016, this development has about 150 units for each tower, ranging in size from 23 to 54 sqm. The hotel’s amenities include meeting rooms, function halls, and a shared infinity pool. The condotel units are operated and managed by Filinvest Hotels Inc., and investors are sure to enjoy complimentary stays at the property and quarterly or annual shares from the income generated from the paid stays of guests.
Santorini Condotel
Imelda (Felix) Avenue corner Marcos Highway, Cainta, Rizal
Currently being built on the 11-hectare, Mediterranean-inspired Sta. Lucia Residence complex between Marikina City and Cainta, Santorini Condotel will offer investors suites (located at the project’s 5th to 16th floors) ranging in size from studio units to one-bedroom and two-bedroom apartments. According to the company, investors can enjoy free 30-night stays at the hotel and at other properties owned and operated by Sta. Lucia.
Tambuli Seaside Resort and Spa
Brgy. Maribago, Lapu-Lapu City
The 11-hectare beachfront project Tambuli Seaside Living of Tytans Properties and Development Inc. is a residential resort community composed of six mid- and high-rise residential towers offering 1,200 units. At the same time, four hectares will be dedicated to leisure, dining, and amenities. According to the developer, 80 percent of the buyers have chosen to enroll their properties in the condotel program. This project welcomed its first guests in the fourth quarter of 2016.
In 2023, this hotel is now called Tambuli Seaside Resort and Spa. It is 30 minutes from Mactan Cebu and International Airport and an hour from Cebu City Center, making it an ideal investment.
Main image via Shutterstock
