The condo hotel concept initially became popular in the 1970’s in the US, primarily due to the tax benefits available for Unit Owners. Many of these tax benefits were rescinded in 1986 but the concept again gained popularity in the late 1990’s and early 2000’s as conventional financing became difficult to attain by developers. Unit owner deposits and commitments were used to attain loans and also finance projects. The following is the story of the history of condo-hotels in a three part series.
I’d like to thank Paul Courtnell JR, Equire, one of the pioneers of condo-hotel law, for providing me with the article that became the basis of this screencast and will also appear as the first chapter in my book – “the Definitive Study of Condo Hotels”.