Condotel owners of the Grand Cenia stand to enjoy three major benefits – a unit in a very prime location, a very good return on investment, and hassle-free, global standard hotel services.
The development is of course located right across the Cebu Business Park, easily accessible to the business hub, the convention centers and commercial areas. Early return on investment is as good as guaranteed because of the booming tourism, and subsequently booming Cebu hotel industry. The hotel, made up of the pooled units, would be managed by an international hotel operator, who would also handle the distribution of the rental pool income to the condotel owners. The condotel unit owner can just sit back, relax and watch his investment bear fruit.
Typical condotel units will have a standard size of 24.27 sqm, There are 432 condotel units available for sale. There are special condotel units on the 7th and 8th floors which will feature open patios to take advantage of their view of the city, the surrounding mountains and the swimming pool deck and landscaped area. There are also a number of condotel suite units which feature a hotel bedroom separate from the room receiving area. These units are sold and delivered bare of finishing and furnishing.
Upon turnover and full payment of the buyer, each condotel unit will be transformed to a typical hotel room with interior and furnishing finishes based on set hotel standards and look. Based on the preference of the hotel operator, some condotel units will be converted to twin-bed rooms (double single beds) or single-bed rooms (queen-size). Bigger hotel rooms and adjoining units can be transformed and offered by the hotel as deluxe or suite rooms for guests.
All the condotel units are required to be brought into the rental pool for the purposes of hotel operations.
The condotel owners will have to pay a separate joining fee, which will include the standard interior finishing, furniture and fixtures of the condotel to become ready hotel rooms.
The perpetual assignment of the condotel units to the rental pool for hotel operation use will be annotated on the title of the condotel units and shall form part of the unit’s usage restrictions.