What is "Condotel"

Definition of 'Condotel' A condominium project that  is operated as a hotel with a registration desk, cleaning service and more. The units are individually owned. Unit owners also have the option to place their unit in the hotels rental program where it is rented out like any other hotel room			.
	Investopedia explains 'Condotel' There are pros and cons to condotel ownership. Pros include rental income to offset ownership expenses, a great vacation home, a cared-for home and potential price appreciation. On the down side, you might have to make a reservation for your own unit several days or weeks in advance. Generally, condotels are sold as a second or third home