It’s highly economically advantageous for a company to own a condominium.

First of all, a residence has lasting value, and the acquisition comes without taxation - being declared as a ”building asset”. Ownership also makes it possible for the company to deduct running expenses such as interest and fees.

Generally, the monthly cost for a Business Suite can equate to three-four hotel stays in a month (capital costs are included). Therefore, it’s quite easy to calculate the value of the home investment. Additionally, condos can be rented out during long periods of vacancy.

The flexibility of owning a condo for the company is another plus. All administration associated with hotel bookings becomes a mere memory.