Have your ever had a sum of money and do not know where to invest it safely? Have you ever wished to have a second home for your family’s relaxation but concerned how to protect it when you are not there? Have you ever heard of “Condotel”?

Condotel is a new concept in Vietnam. Following are our frequently asked questions:

1. What are the benefits to the owner of the Condo hotel (the secondary owner)?

The secondary owner will own one of the units of BW Nha Trang Plaza located at 38 Tran Phu, Nha Trang. With the special architecture and ideal location of BW Nha Trang Plaza, the secondary owner will benefit from the perfect services, preferential treatment in the use of the hotels services, and proudly own the brand name of the world biggest hotel chain: Best Western (www.bestwestern.com). And more, your asset value will increase day by day along with that of Best Western - USA.

You will be free from worrying about the protection of your asset as well as having to keep upgrading your Unit like in other vacation houses. Best Western will take care of your property.

You can sell your Unit whenever you want. Thus, Condotel is the combination of the possession of a vacation house for your family’s relaxation with the added advantage of being safe financial investment.

2. What is the responsibility of Havana and Best Western?

Havana together with Best Western, an international hotel chain, will operate your Unit as a hotel room of BW. Your Unit will be put into BW’s worldwide sale and reservation system. Currently, BW has 4,200 hotels in the world and this number is increasing rapidly. BW will bring you revenue, operate and protect your property, provide and carry out all the services of a prestige hotel of international standards.

3. What essential matters will be agreed upon between the secondary owner and Havana?

The following essential matters will be explicitly agreed upon in the agreement between the secondary and Havana:

• Revenue that the secondary owner will receive

• Revenue that the developer will receive in return for operating and managing the hotel

• The periodic discount such as repair and maintenance fee, preferential discount for using the services by the secondary owners at the hotel as compared with the rack rate.

• Which party will pay for tax, insurance, banking service charge, repair and maintenance fee for the common areas.

• Which party will pay for operational costs including room cleaning, reception, management fee, marketing fee, commissions for the intermediaries such as airlines, tourism companies, etc. who book rooms for clients (not bookings through Best Western’s reservation system).

• Rules and required procedures when the owner wants to use his Unit.

4. Can the secondary owner carry out marketing campaigns and has the right to possess most of/all the money collected?

This is completely acceptable. However, most of the secondary owners want to have higher revenue and maintain the quality of services under the operation and management of a professional group who is well known over the world thanks to its brand name, reservation network and management experience.

5. What makes Condotels successful?

The success of the condotel in the world is based on the following core factors: situated in a good and central location, perfect services, convenient traffic patterns, well known brand name, worldwide reservation system and professional staff. All these factors are found at Nha Trang Plaza Hotel.

6. Where are most of the Condotels in the world located?

Most of the Condotels in the world are carefully located next to a beach or a golf course. The first Condo hotels of large scale were built at Miami Beach – USA and this model has been developed widely at several famous beaches of many countries in the world.

7. What is the best time to purchase a Unit in the Condo hotel?

The best time for purchasing a Unit is during the construction period as it is the time of the lowest prices and clients can optimize their choices.