Condo-Hotels

Las Vegas Condo Hotels

A condo-hotel is a hotel-operated building whose rooms are individually owned: you hold the deed, use the unit when you want, and place it in the hotel's rental program when you don't. Las Vegas has the deepest condo-hotel inventory in the country — six branded towers on or beside the Strip — and the segment follows different rules than residential condos for financing, fees, and income.

7 communities

Which Condo-Hotels Can You Explore by City?

Las Vegas 7 communities

MGM Signature

$200K-$500K

Palms Place Hotel and Spa

$200K–$1.5M+

Platinum Hotel Residences

$200K–$600K

The Signature at MGM Grand

$250K–$1.5M

Trump International Hotel & Tower

$200K–$3M+

Vdara Residences

$300K–$1.5M

Waldorf Astoria Las Vegas

$500K–$10M+

Expert Guide

What Defines Condo-Hotels in Las Vegas?

Las Vegas operates six major condo-hotel towers, all built or converted between 2006 and 2010. Vdara at CityCenter (57 stories, 1,495 units) is the largest, an all-suite, non-gaming tower operated by MGM Resorts between Aria and the Bellagio. The Signature at MGM Grand contributes three 38-story towers with 1,728 total suites connected to the MGM Grand by walkway. Palms Place (47 stories, 599 units) adjoins the Palms Casino Resort with its own pool deck and spa. Trump International (64 stories, 1,282 units) rises on Fashion Show Drive without a casino floor. The Platinum (17 stories, 255 suites) sits a block off-Strip on Flamingo, and Waldorf Astoria at CityCenter splits its 47 floors between hotel keys and 225 private residences that may enter hotel service.

The ownership economics differ from every other property type in the valley. Purchase prices run from roughly $200,000 for a Signature studio to $500,000–$900,000 for Vdara and Palms Place one-bedrooms and past $2 million for Waldorf Astoria residences. When a unit sits in the rental program, the operator typically retains 40–50 percent of gross room revenue plus cleaning and resort-fee splits; owners cover HOA dues of roughly $500–$1,500 monthly along with property taxes and unit insurance. In a strong convention year the program can offset most carrying costs on a well-located suite — but a condo-hotel is a lifestyle-plus-offset purchase, not a cash-flow investment, and every serious analysis should start from that framing.

Financing is the trap that catches most first-time condo-hotel buyers. Because the buildings are hotel-operated with majority investor occupancy, nearly all condo-hotel units are NON-WARRANTABLE — Fannie Mae and Freddie Mac will not purchase the loans, so conventional 30-year mortgages are generally unavailable. Buyers use cash (the majority of closings), portfolio lenders at 25–40 percent down with rates a point or more above conforming, or in some cases seller financing. Nevada Real Estate Group maintains relationships with the portfolio lenders who actually close in these towers, and our agents pull the building-specific numbers — HOA financials, program revenue splits, and recent comparable closings — before a client writes an offer.

The condo-hotel segment also answers a question traditional Las Vegas real estate cannot: legal short-term rental income on the Strip corridor. Clark County and the City of Las Vegas heavily restrict residential short-term rentals, but hotel-program units operate under the resort’s own licensing — the building rents your unit as a hotel room, which is precisely what the zoning permits. For buyers comparing the segment against residential towers with lease-term minimums, the trade is control and financing flexibility against turnkey income and Strip-address access. Our high-rise specialists cover both sides of that line: see the full tower directory at /high-rise-condos/ for the residential buildings — Veer, The Martin, Turnberry, Panorama, One Queensridge — where you own a true home rather than a hotel key.

Common Questions

Frequently Asked Questions About Condo-Hotels

What is a condo hotel in Las Vegas?

A condo-hotel is a hotel building whose rooms are individually deeded to private owners. The owner can occupy the unit personally and place it into the hotel’s rental program when away — the operator rents it as a hotel room and splits the revenue. Las Vegas condo-hotels include Vdara, The Signature at MGM Grand, Palms Place, Trump International, The Platinum, and hotel-serviced residences at Waldorf Astoria. The deed is real property ownership recorded with Clark County, unlike a timeshare, which sells only usage rights.

Can you live full-time in a Las Vegas condo hotel?

In most buildings, yes — owners at Palms Place, The Platinum, Trump International, and The Signature can occupy their units year-round if they choose, paying HOA dues like any condo owner. Vdara owner-occupancy is subject to MGM’s program terms and is less practical for full-time living. Note that condo-hotel suites rarely include full kitchens (Vdara and Palms Place suites have kitchenettes), which is the main livability difference from a residential tower like Veer or The Martin.

How does financing work for a condo hotel?

Condo-hotel units are non-warrantable — conventional Fannie/Freddie mortgages are generally unavailable because the buildings are hotel-operated with investor-majority occupancy. Most purchases are cash. Financed buyers use portfolio lenders at roughly 25–40 percent down with interest rates about 1–2 points above conforming, and a smaller number negotiate seller financing. Budget for the higher cost of capital when comparing a condo-hotel against a residential condo you could finance conventionally.

How much rental income does a Las Vegas condo hotel unit make?

Revenue depends on the tower, floor, view, and the convention calendar. The operator typically keeps 40–50 percent of gross room revenue, and the owner’s share must then cover HOA dues ($500–$1,500 monthly), property taxes, and insurance. Well-located Vdara and Signature suites can offset most or all carrying costs in strong years; lower floors in slower years may not. Treat the program as a carrying-cost offset with personal use included, not as a yield investment — and ask us for the building’s recent owner statements before you rely on any projection.

Are condo hotels legal for short-term rental in Las Vegas?

Yes — and that is their core advantage. Clark County and the City of Las Vegas tightly restrict residential short-term rentals, but condo-hotel units rent through the resort’s own hotel license, which is exactly what the zoning contemplates. You are not operating an Airbnb; the hotel is renting one of its rooms that happens to be yours. This is the only fully compliant way to own short-term-rentable real estate on the Strip corridor.

What is the difference between a condo hotel and a timeshare?

Ownership. A condo-hotel unit is fee-simple real property — a deed recorded with Clark County that you can sell, finance, or leave to heirs, covering a specific physical unit. A timeshare sells intervals of usage rights, often across a resort network, with notoriously weak resale value. Condo-hotel units trade on the open MLS market like any Las Vegas condo, and their prices move with the broader market.

Which Las Vegas condo hotel is the best buy in 2026?

It depends on the goal. Vdara offers the strongest rental program placement (center-Strip, MGM-operated). The Signature at MGM Grand has the lowest entry prices, often under $300,000. Palms Place suits owners who want more personal use with a resort attached. Trump International offers larger units and no casino environment. Waldorf Astoria residences are the luxury end at $1.5M+. Our high-rise team pulls the current inventory and recent closings across all six buildings so you can compare actual numbers rather than marketing claims.