All you need to know about buying and leasing hotel apartments!
More and more investors are looking forward to leasing and purchasing hotel apartments in the booming hotel industry in Dubai as time goes on buying. Following the purchase of a hotel apartment by an investor, the hotel management leases it on their behalf and shares the earned returns from the rent out of the hotel room with them.
Making an investment in a hotel in Dubai is becoming very popular among the investors coming from foreign countries. It is a preferred choice for many of them because most of the known hotels do not get affected mostly by the shifts in the economy. Thus, it makes them a more secure option to protect the money of the investors and diversity their portfolio when it comes to the investment.
WHAT does it mean TO BUY AND LEASE HOTEL APARTMENTS in Dubai?
The first commercial airline took off nearly a hundred years ago. Today, traveling has become an essential element of the lives of many people who pass through the business center of the Middle East. Dubai also hots international travelers ‘ busiest airport.
Everyone who plans a trip requires a place to stay and this is where all the hotels come in handy and provide a vital service to all the tourists in Dubai who are increasing in number by the year.
Due to all of these properties that have been stated, hotel property investment is growing widely. investing in a hotel provides the prestige of owning a hotel that is luxurious, getting a free night stay and very often many other privileges as well. The most important one of them all is that the investors look for returns as an expectation.
It gives the investors peace of mind on the matters that are overlooked and mundane when it comes to the investments of other properties. All of these include cleaning, cooking services, leasing, booking, and marketing as well, along with the advertisement. The advertising tasks are of owning a property. Instead of that, a company that deals with management on keeping the hotel rooms occupied and in Dubai it is marked as being very popular when it comes to types of investments, the main aim is to steadily grow in economy and industry.
STEPS TO BUYING A HOTEL ROOM
Unlike residential property, the hotel property is managed by a specialist team. Hence, a hotel property investment is considered to be free of any hassle when compared to other kinds of investments.
The unit of the hotel is equipped completely and very well managed and repaired as well. While it also provides the savers with a share of revenue as well. It is relatively very simple to make an investment in a hotel. The main steps are research, buying a hotel apartment, and expect tangible returns.
Research is one of the most important parts because it involves choosing an apartment that is in demand considering the location, and the organization’s company of the hotel should be reputable as well. The investors are greatly advised to buy a hotel apartment in a reputable hotel, which is known for the brand and the management. It is another key factor in making an investment that is safe. The main reason is because most of these hotels barely face a low occupancy rate in the metropolitan cities.
FIGURES and facts About Dubai
If you are buying a hotel room in Dubai, it means that you are investing in the tourism and hospitality industry, which experiences excellent growth. Before the year 2002, only the nationals of UAE were able to invest in a property in Dubai. But after the decree, which said that the non-nationals are also allowed to buy a property in Dubai, things changed drastically. There has been a major shift and a property boom.
According to Dubai’s Tourism Vision for 2020, 20 million annual visitors are expected by 2020, which will be resulting in marvelous growth for Dubai’s hotel sector. It is currently ranked number six in the most visited city according to the World Economic Forum.
Dubai has the busiest airport in the world, which is the home to international travelers and ones of the fastest growing cities in leasing and buying as well.