Travel

Does anyone own a hotel room at Blue Mountain or other resort? Is it worth it?

  • Last Updated:
  • Aug 21st, 2021 11:23 am
[OP]
Deal Expert
User avatar
Nov 2, 2003
16461 posts
2868 upvotes
GTA

Does anyone own a hotel room at Blue Mountain or other resort? Is it worth it?

I know the hotel rental program doesn't cover all of your costs so you'll be cashflow negative every month but how good/bad is it in reality?

Mortgage
Property Taxes
Condo fee
2% blue mountain fee upon closing
quarterly blue mountain owner fee

What else is there?
4 replies
Member
May 31, 2017
328 posts
87 upvotes
Bumping this thread as I'm interested in hearing from current owners as well.
Deal Fanatic
Oct 6, 2007
8962 posts
6019 upvotes
Kootenays
I have no experience with condo-hotels (we own a small resort), but in the hotel industry there's a formula I learned years ago from a CP Hotels GM: Take 1/10th of 1% of the cost of constructing or acquiring the room and use that as your average room rate. You then have to have an occupancy rate of 66% annually at that rate to break even.

OP should also include insurance (especially liability) in their annual costs, unless it is taken care of by the resort.

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