When the question of developing a new project at Puerto Penasco, Mexico has arrived, we would suggest that rather than going for traditional time share or new mixed use hotels, we should generate the energies towards developing a Condominium. The most important fact for advocating a Condominium is because this concept is already very popular in beach areas of Mexico. Tourists from across the world come here to take the experience of beach village which is rather not possible in mixed use hotels.
Financial Advantages of a Condominium over other forms: Limited capital investment initially: First of all, the amount of capital invested in a Condominium is lesser than that of other traditional hotel forms. Hotels usually are occupied by the tourists at peak months only. Apart from that time, they always face lack of tourists which ultimately result in loss of revenue.
Renting the property at non peak months: The Condominium could be rented to students and other people apart from the tourists during the non peak months and hence it in a sense gives guarantee to the owners for a uniform cash flow across the year. Disadvantages to the other schemes: It could be very well noted here that at times Condominium could lose the advantages to classic hotels in terms of hospitality and luxury. The tourists often feel that the Condominium could not provide the room service and the luxury that the time share hotels could provide.
This is true to an extent that the Condominium does not beat the traditional hotels in terms of luxury. The reason why we have chosen a Condominium over other forms of hotels is because least risk involved in this project. As the amount of capital invested is least, the chances of losing money are less. Apart from that, we are also ensuring smooth and uniform revenues across the year. References: Puerto Penasco: Retrieved on 4th August, 2010 from website: http://www. puerto-penasco. com/
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