Question 1

WHAT IS THE PROCESS UPGRADING TO ANOTHER HOTELA RESIDENCE?

Accepted Answer

We provide property owners with flexibility to use the upgrade to another HOTELA residence within the first year of purchase. Transfers can only be done once any outstanding loans you have with HOTELA are paid in full. You can apply for a new HOTELA Direct Loan. You are required to pay the difference for the upgraded residence. The transfer option incurs no fees and enables owners to start enjoying their new upgraded second home immediately.

Question 2

IS IT POSSIBLE TO UPGRADE OWNERSHIP MORE THAN ONCE?

Accepted Answer

No. This is a one-time benefit provided to owners.

Question 3

IS THERE A TRANSFER FEE CHARGED BY HOTELA FOR UPGRADES?

Accepted Answer

The ownership transfer does not entail any transfer fee, nor does it generate any profit for HOTELA. This option is exclusively offered as a benefit to owners.

Question 4

WILL MY UPGRADE OWNERSHIP TRANSFER TAKE EFFECT IMMEDIATELY?

Accepted Answer

Yes, the ownership transfer takes effect immediately, which means you can instantly start booking your preferred dates in your new HOTELA.

Question 5

WHAT EFFECT WILL AN OWNERSHIP UPGRADE HAVE ON THE NUMBER OF STAY NIGHTS THAT I HAVE AVAILABLE?

Accepted Answer

Upon ownership upgrade transfer, your stay nights will reset, and the date of transfer will become your new ownership anniversary date. Unused prepaid maintenance fees shall be credited towards the maintenance fees for the upgraded residence.

Question 6

DEFINE AN UPGRADE

Accepted Answer

An upgrade is when you want to purchase a residence that is more than the original property you purchased. It could also be that you purchase a less expensive residence but bought more shares resulting in an overall higher purchase price.

Question 7

IS IT POSSIBLE TO FINANCE THE PRICE DIFFERENCE IF I TRANSFER TO A MORE COSTLY PROPERTY OR BUY MORE SHARES?

Accepted Answer

Absolutely, HOTELA provides an option for existing owners to finance the price difference in share value when upgrading to a more expensive property or buying more HOTELA ownership shares.

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