HOTEL RENTAL SCHEME
Crowne Plaza Residences are managed by Intercontinental Hotels Group under the brand Crowne Plaza Hotels and Resorts. Given the brand’s high market penetration and strategic alliances, Owners can be confident that their Apartments are in a very favourable position to generate significant rental income should they wish to participate in the Hotel Rental Scheme.
Under this plan, the hotel will endeavour to find qualified guests to stay in the Apartments while Owners are not in residence. Joining the Rental scheme is optional and entry or exit is on an annual basis.
Total Room Rental |
= |
50% x Total Room RevenueApartments in the Hotel Rental Scheme |
| = | Owner’s Annual Rental Return |
Return on Investment
Set out below is a sample reward indication. The Rental Return formula is as follows:
Daily Room Only Rate x Average Occupancy |
= |
Total Room Revenue(with a 50% revenue distribution |
| Crowne Plaza Residences | Average Year |
| Occupancy | 65% |
| Apartment Room Rate | US$ 160 |
| Owner Share 50% of Pooled Room Revenue | US$ 569,400 |
| Return per Apartment | US$ 18,980 |
| Apartment Purchase Price | US$ 300,000 |
| Return on Investment | 6.3% |
- Based on the current exchange rate of US$1 = ThB 40.
- Kindly note that the sample above is an indicative exercise, derived from market research, assumption and operating experience.
- Whilst every care has been taken in preparing this document, the developer does not guarantee its accuracy nor intends it to form part or any offer or contract. All statements are believed to be correct but not to be regarded as statement or representatives of facts. The developer reserves the right at any time to make changes to the project at its own discretion.
COMMON AREA MANAGEMENT
The Crowne Plaza Karon Beach Management will cover all aspects of the apartment complex, to include Common Area Management, Security, Maintenance and Housekeeping. All financial activities will be handled by the Hotel under separate controls with regular reports and appropriate bookkeeping.
The Common Area Management charge is paid by the Owner monthly on a quarterly basis. Unless the owner take opportunity of the Hotel rental scheme.
Summary of management of common areas:
- 24 hour on site security.
- Gardening and irrigation of all common areas and private gardens.
- All common area electricity including street and garden lighting.
- Cleaning of the common pool and poolside and providing all materials for the cleaning of the pool.
- All ongoing annual property, land usage and lease taxes pertaining to the property as a whole and the individual properties.
- Office building, manager and staff, all utilities, equipment and stationary.
- Garbage removal and pest control.
- Insurance for all common areas. Accounting.
- Common roads.
- Electric and water supply.
- Gated access.