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Developers in US reviving condo-hotel concept

These projects can attract financing that may not otherwise be available: consultant

[LOS ANGELES] Rainer Viete, who visits Florida from Venezuela about once a month, said he's buying an apartment at the Hyde Resort & Residences hotel-condo project near Miami so he can order a meal or rent out his apartment when he wants.

"I love the amenities the building will have - a restaurant that can provide room service, a concierge, maintenance, a person that can clean your place, valet parking," said Mr Viete, 25, who works for his family's real estate company in Caracas. The US$250 million project, scheduled to break ground in August, is already 85 per cent sold.

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