The two most common types of housing today are hotels and apartments. Each type has unique qualities, applications, and uses. In the article that follows, let’s contrast hotels and apartments based on their similarities and differences.
Overview of apartments and hotels
Let’s first quickly understand the idea and traits of the three main models mentioned here, which are: hotel, apartment, and tourist apartment (condotel).
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With separate closed spaces, this model is meant to be installed inside of high-rise apartment buildings, guaranteeing privacy for each household or person. Residents can easily access all local internal and external utilities when choosing an apartment, ensuring a comfortable and secure living environment.
Two types of apartments will be available when the house is turned over: unfinished raw form and fully furnished. The homeowner can then improvise the arrangement, maintenance, and design to suit their particular needs.
Affordably priced, mid-range, and high-end apartments are the three categories. Users may think about selecting the type of home that best fits their demands in terms of both use and budget.
Today, investments are made in and buildings of popular apartment types are constructed, such as the standard shape, Studio, Mini apartment, Officetel, Penthouse, Duplex and Sky Villa. Each type will have distinct structural qualities, and prices will vary according to the apartment’s location, neighborhood and other factors.
The term Condo & Hotel, which refers to an apartment hotel, is short for this. Although still new in Vietnam, this model is quite popular on the global market. Today’s luxury resorts are also seeing a rise in this new trend of real estate investment.
Condotel will perform the dual roles of a hotel and an apartment, staying true to its name. As follows:
- Hotel: A facility that offers amenities and reservation systems akin to those found in standard hotels and resorts. The distinction is that Condotel enables clients to own flats for use as vacation rentals or as places to unwind.
- Apartment: The Condotel’s interior is fully furnished and set up so that guests can live comfortably in the space as though it were their own apartment. To manage and run the operations of the apartment at the hotel, this model must have a distinctive unit.
Based on the user class and target audience, the current Condotel model is rated in three different grades: A, B, and C. Typically, businessmen, tourists, investors, and travelers are the types of potential customers who frequently own and use Condotel.
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The hotel has been legally registered as a business and is regarded as a sort of investment. The hotel’s primary goals are business and financial success.
The hotel is regarded as a lodging establishment that offers practical services and accommodates a range of demands for eating, sleeping, entertainment,… throughout the stay here.
Every hotel will have a unique design that combines a variety of bedroom systems with different furniture and lodging-related equipment. The following criteria are used to evaluate and categorize popular hotel types today:
Standard of excellence the infrastructure, compensation, and other factors that go into determining a hotel’s star rating will all be considered. According to the nature, traits, and caliber of each hotel, the basic standards typically range from 1 to 5 stars.
Room size, capacity
The size of operations is a significant component in categorizing different hotel models. The hotel’s scale will be divided into the following 4 distinct levels:
- Small: Capable of offering between 1 and 150 rooms.
- Medium: Able to offer between 151 and 400 rooms.
- Large: Able to provide anything between 401 and 1500 rooms.
- Mega: Able to provide more than 1500 rooms.
According to the characteristics of specific customers
In addition to the previously mentioned two variables, the type of hotel is also categorized in accordance with particular client groups that specialize in serving each region, with various properties. including popular hotel categories today:
- Commercial Hotel: This type of lodging is frequently found in crowded urban regions and major cities. specialized to accommodate visitors and short-term business travelers.
- Airport Hotels: There is a particular kind of lodging that focuses on providing short-stay accommodations for travelers waiting for flights and crew members. For easy mobility, airport hotels are typically situated close to the airport.
- Resort Hotels: The hotel resort industry in Vietnam is seeing significant investment and development. It is a high-end, long-term lodging type. The best and most pleasant vacations can be had in a resort, which is the synergy of an ecosystem with utility and lodging functions.
- Casino Hotels: This is a model that focuses on catering to enormous, lavish, high-class casinos where large groups of people frequently congregate for amusement.
- Budget hotels or Hostels: A hostel is a type of hotel that appeals to the general public, has a reasonable price, offers minimal amenities, is close to a train or bus station,…
- Highway hotels or Motels: This design is quite common in other nations and has just been brought to Vietnam. A motel is specifically designed to accommodate visitors needing a brief overnight stay who are traveling by car, motorcycle, etc.
The three types of lodging houses that are most prevalent and successful in Vietnam are described above along with their concepts and traits. Let’s compare hotels and apartments next to see the benefits and drawbacks of each model.
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Comparative analysis of hotels and apartments
Here is a comparison of hotels and apartments to help you better understand these two well-liked models. The following are the distinctions between an apartment and a hotel:
The distinction between these two models with regard to geographic factors is:
- Hotel: Hotels can be constructed anywhere to meet the demands of locals to the fullest. In order to offer the best conditions for travelers in a specific location, hotels are typically located exactly near the core of tourist attractions.
- Apartment: The apartment system is typically constructed in locations near the city center, close to major roads, providing residents with convenient circumstances for everyday movement and living.
Area of residence
The location is the second thing to take into account when contrasting hotels and apartments. The demand for use will also have some bearing on the living area for the first two variants.
- Hotel: Because short-term stays tend to be less frequent, there is typically only one room, which is furnished simply. In order to accommodate a brief stay, the hotel room will often set up a bedroom and a bathroom.
In addition, hotel rooms are divided into a wide range of categories. These categories include size, number of rooms, and interior design.
- Apartments: These models are typically more luxurious and completely equipped because they are intended to be long-term living options. Apart from that, the apartment’s space will continue to grow beyond that of the hotel. Depending on the type of apartment and how many bedrooms there are, the space will be divided.
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Space and privacy
Privacy is the third consideration when contrasting hotels and residences. When deciding between a hotel or apartment, this is by far the biggest difference.
- Hotel: In order to meet the users’ fundamental needs during a brief stay, the hotel’s amenities are often structured as follows: TV, a bed, a phone, a bathroom, personal hygiene products, etc.
Additionally, depending on each hotel, amenities like laundry, cleaning, dining, shopping, etc. will be offered to accommodate guests.
- Apartments: Apartments will have completely furnished interiors to accommodate long-term occupants. Particularly, clients will have their own living area that is tailored to their needs, precisely as their own home, improving the guarantee of privacy when residing in an apartment.
Distinguish between apartments and hotel apartments (Condotel)
The following is a comparison of hotels and apartments to highlight the differences between the two models. Let’s go through the details of the following comparison table:
|Concept||It combines elements of a plush hotel and a cozy apartment.||Built in a crowded, busy urban area, multi-story apartments.|
|Purpose of use||Providing services to the resort’s intended audience for investment or use in travel.||The main goal is for residents to live there for an extended period of time in typical homes.|
|Business Model||A unit is responsible for managing, operating, supporting, locating customers, and routinely maintaining the apartment.||Customers search for appropriate apartments on their own, and the rental or purchase price is decided upon by the two parties.|
|Utilities system||Located in the condotel management system’s complex of common utilities.||The accompanying utilities will differ based on the characteristics of each apartment.|
|Profit factor||Has a long-term fixed period (5–10 years), a high rate of return, and is suitable for leasing.||The typical rate of return ranges from 4.5 to 5.5%, depending on the area and the state of the economy.|
|Offers/Promotions||Similar to an apartment, but with additional discounts for stays at Condotels while traveling.||Buy an apartment, get a free car, phone, silver and gold, lucky draw, etc.|
|Administrative management procedures||The investor is required to permit tenants of condotels a brief stay.||Will be given the option to register for long-term temporary residence.|
|State management agency||Operated by the project management board, the State management agencies in charge of tourism.||Managed by the residential group People’s Committee of the ward/commune, the management board of the apartment,…|
Advantages and disadvantages of apartments and hotels
As previously stated, each user’s needs will be met by the apartment and hotel models’ unique qualities and features. The two most common real estate types in Vietnam today will be examined in the sections that follow for both their advantages and disadvantages.
- Ensure that all of the internal and external amenities found inside the apartment, such as schools, hospitals, supermarkets, amusement parks, parks, swimming pools, spas, and gyms, are available for use by all residents.
- A clean living environment that is less difficult and noisy and that offers the most peaceful and tranquil setting conceivable.
- Location is ideal for everyday commutes and is central.
- With surveillance cameras, a guard on duty, parking lots, and a security system that operates constantly,…
- Users will feel the most at ease and comfortable while taking in the lovely view and cooling the area when the temperature is set to its highest setting.
- Renting or buying will be less expensive than other models, and payment terms can be flexible.
- Incorporating a variety of residential models and catering to consumer needs.
- Market fluctuations in rent or purchase costs could lead to instability.
- Utilities and infrastructure must be coordinated to prevent problems with daily life.
- Houses cannot be repaired, built, or designed at will; authorization from the Building Management Board is required.
- It is challenging to maintain sound insulation, seclusion compared to the ground floor, neighbors must give way and show sympathy for one another when unforeseen events happen, and it is challenging to plan home parties.
- The infrastructure and services at the unit require a service charge to be paid.
- In comparison to a residence on the ground that is vulnerable to deception from the investor or homeowner, it will take longer to get the pink book.
- The lives of people will be impacted as apartment buildings deteriorate over time.
- Strong profitability, high return on investment, and sustained investor profit
- Take advantage of the resort’s amenities, including the care system, outside space, and more.
- You can trade nights at other hotels and resorts across the nation.
- There is no need to be concerned while making future investment selections because condotels are frequently situated in regions with significant potential for economic, tourism, cultural, political, and social development.
- A resort management and operation unit is in charge of looking after, maintaining, and monitoring the condotel’s deterioration, as well as alerting clients right away when necessary.
- Depending on the investment and use goals, permit condotel ownership or lease registration.
- Only a 15 days leave period is available for personal usage at the condo. If the customer cancels before the rules are followed, he will be required to pay damages for the infringement as the time has been committed in accordance with the contract.
- Subtract between 10 and 20 percent of your profit as a charge for the investor to help with condotel maintenance and care.
- Before putting money into this new model, you must have reliable financial resources and specific knowledge.
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Should you choose an apartment or a hotel?
A lot of people who are looking for a place to live or who want to invest in real estate to make money find this question to be a real headache. Customers should select the most appropriate residence for their needs in order to minimize costs and maximize each real estate model’s operational potential.
A lot of people live, reside, and work in flats, the survey finds. Instead, the hotel will be utilized for short-term rest, while the condotel will be used for lucrative business. Because of this, each model will have unique applications, benefits, and drawbacks, and users must think carefully to make the best decision.
The information about contrasting hotels and apartments is summarized above. As a result, consumers can make the most correct investment judgments and recognize the common real estate models of today. Please get in touch with Property Plus right away if customers are unsure whether to pick an apartment or a hotel for more detailed guidance and solutions.