Condominium Hotels

Condo hotels have increasingly gained in popularity during the past five years. While the trend started in Florida, these revenue-sharing projects are catching on in other states. A look at three units selling at a range of prices.

* * *

LOCATION: Las Vegas

PRICE: $449,900

PROPERTY TAX: $4,500 per year

THE PROPERTY: As part of MonteLago Village development at Lake Las Vegas, this one-year old unit has 1 bedroom and 1 bath.

DESCRIPTION: The 674-square-foot suite in this six story condo-hotel complex comes fully furnished. Owners have access to two pools and a fitness center.

NOTABLE: Owner splits gross revenues 50-50 with the hotel. Owners pay utilities and a special liability insurance.

* * *

LOCATION: Fort Myers Beach, Fla.

PRICE: $820,000

PROPERTY TAX: $9,250 per year

THE PROPERTY: This 1-bedroom unit comes fully furnished and has a large Jacuzzi bathtub in the spacious bathroom.

DESCRIPTION: As part of the Pink Shell Beach Resort & Spa, this 1,289-square-foot condo apartment has granite counters, a full kitchen and a living room that overlooks the Gulf of Mexico.

NOTABLE: Owners get 42% of the rental revenue and are allowed to live in their units for 28 days a year.

* * *

LOCATION: New York City

PRICE: $1.2 million

PROPERTY TAX: $3,900 per year

THE PROPERTY: This 1-bedroom unit has two full baths and a luxury kitchen.

DESCRIPTION: Situated in the 50-story Trump International Hotel & Tower, the 943-square-foot suite, with 10-foot ceilings, overlooks Central Park. Marble adorns counter tops and bathroom walls.

NOTABLE: Owner can live in the suite 179 days a year. The owner receives all of the gross revenues but pays a $108-a-day cleaning fee and $3,500 a month for "common" fees.

Email your comments to rjeditor@dowjones.com.