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Owning parts of a hotel

By Xu Lin ( China Daily ) Updated: 2013-12-14 07:15:03

There is a new batch of hoteliers being born, and they include private investors who have bought into luxury beach resorts under time-share schemes. Xu Lin visits one such property in the Philippines.

One can never be bored on Boracay island in the Philippines, where the activity choices range from sports at sea, such as kite surfing, wind surfing, snorkeling and diving, to inland adventures, such as cycling, beach soccer and tennis.

For Chinese investors who enjoy overseas holidays in such beach resorts, buying property here seems to be a good decision, especially as it can be professionally managed when the vacation is over and the owners return home.

 Owning parts of a hotel

The Chedi Andermatt residences in Andermatt, central Switzerland, expect to see 3 to 5 percent of their buyers from China. Photos provided to China Daily

 

There are timeshare options, as well as wholly owned projects that also allow owners to rent their apartments out under the management services.

"It's interesting to bring the idea to the Chinese market. You're not only buying an apartment but also making an investment," Marco Biggiogero, chairman of Aqua Boracay by yoo, says.

Aqua Boracay by yoo is a luxury beach-front residential resort on the island, with 144 one-and two-bedroom apartments and penthouses, with hotel options to open later.

All residences are equipped with electronic appliances, such as flat screen televisions, kitchen and dining ware, and wireless high-speed Internet. The interior design blends simplicity with luxury while floor-to-ceiling glass doors offer visages of blue skies and golden sand.

Owners enjoy such facilities as two large swimming pools, a spa, a gym and restaurants. If they join the rental scheme, they can choose to stay for as long as 30 days a year. Construction of Phases 1 and 2 are ongoing, and Phase 3 starts in January 2014. The project will launch around the third quarter of 2014.

Prices start at $199,000 for a 50-square-meter apartment with a balcony - a bargain compared to Beijing's soaring prices.

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