The pandemic changed a lot of thinking among Filipinos.
Many have started to look for value for money whenever they spend on business necessities such as travel and accommodation. They also have become cautious in their investments decisions.
Given today’s changing business climate, one investment option is via a condotel arrangement.
Investing in a condotel is the next best thing to owning a hotel, according to Marc Ngo, chief operating officer of Novel Residential Concepts Inc., the management company of the soon-to-rise Ridgewood Premier Hotel located beside Bonifacio Global City (BGC).
Ngo said with a condotel, one receives passive income that can surpass one’s projected monthly rental rates. Plus, one gets the benefits of having his unit fitted to world-class standards as well as enjoy topnotch maintenance.
Novel Residential said those new to the investment game or would like to add a new income-earner to their portfolio can check out Ridgewood Premier Hotel . The condotel occupies the 15th to 17th floors of the final building of Ridgewood Square.
With construction now in full swing, Ridgewood Premier Hotel, set to open its doors by the last quarter of 2023, offers
About 80 percent of total units sold, a few select units are available for the savvy investor who want to tap this passive income opportunity.
Once up and running, Ridgewood Premier Hotel will have a world-class management team handling hotel operations.
The condotel is built to cater to the demands of the modern traveler. Each unit will remain well-cared-for and ready to accept guests anytime.
According to Ngo, condotel unit owners can expect up to 12 percent in annual returns, which is a significant bump from return projections of 7.7 percent made by similar condotel projects.
The management of Ridgewood Premier Hotel guarantees investors a minimum 6 percent in annual returns.
With hotel occupancy rates expected to return to pre-pandemic levels as the global economy continues to recover, Ngo is confident Ridgewood Premier Hotel can give investors a top-up of up to 6 percent based on hotel occupancy.
This early, Ngo anticipates the return to normalcy.
“By 2023, travelers to the Philippines, specifically to BGC, will find the new Ridgewood Premier Hotel waiting for them,” Ngo said.
He added: “With Ridgewood Premier Hotel, they’ll find the creature comforts they can expect from upscale hotels, but without the highly prohibitive costs that usually come with a central business district address.”
