Luxury Tourist Accomodations At Residencial Prices

Tourism is major income earner for any city. Toronto is second largest city in the world and is one of the richest. As such they have many tourist attractions like the Toronto Eaton Center that has over 52 million visitors per year. Assuming that half of these is due to repeated visits by the 5 million local residents, that still leaves 26 million tourist per year. Spreading these out over the 365 days in a year results in 71,000 tourist in any given day.

These people need to be housed and not all can afford to stay at a US$200 per day per person rates. For families, an ideal venue would be a Condotel which are rentable condominiums that can fit a whole family. At US$240,000 condo will have lots speaking for it, but can still be offered for as little as US$200 per day and still make a profit as long at they have a continuous occupancy rate. At this rate, 26 million tourists can generate US$5.2 billion a year in accommodations revenue. Thus, a Real Estate Agent can help investors buy suitable condominium units for use as condotels. A Toronto Real Estate Agent can arrange for investors to meet with sellers or first party renters to convert their condos for the tourist trade.

Leave a Reply

Categories
    Need to have your car professionally detailed? It can be very expensive but a Payday loan can help your car shine like new again.