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Can a Crowd-Funded Hotel Actually Work? Hard Rock Palm Springs Will Find Out

Go To The Hotel's Web 
  Site Where: 150 South Indian Canyon Drive [map], Palm Springs, CA, United States, 92262
April 17, 2014 at 10:00 AM | by | Comment (1)

Admit, it. You've probably thought about what it's like to actually live in a hotel. The thought is totally normal, especially when you think about the daily housekeeping, trendy design and staff often responding to most every want. Well, this idea can be a reality with a trip to the desert of Palm Springs and your own little slice of the Hard Rock Hotel.

The Hard Rock is looking for people, regular people like yourself, to invest in the luxury 163-room resort in the heart of downtown Palm Springs. With a little professional help from RealtyMogul.com, interested (and cashed-up) parties will register their desire to be part of the America's first fully online crowd-funded hotels.

Benefits for signing a check with a few more decimals than a night's stay extend way beyond bragging rights. Individual investors in the hotel will receive VIP benefits ranging from free use of the hotel owner poolside cabana, 25% discounts off the best available room rates and free room upgrades. Even if you're not a regular to Coachella Valley Music Festival, this might be a good reason to get away to the desert more often.

For those looking for a larger return than just on-property benefits, owners will also score any revenue from quarterly rental payments and will also have a piece of the pie from the eventual sale of the hotel to a new parent group of investors. The offer will last until the hotel is sold-out. So we'll see how it all ends up.

If you'd rather just sleep in the rad, rock-themed rooms without a worry about which celeb might be trashing the suite upstairs, room rates start at $214 per night.

[Photo: Hard Rock Hotel Palm Springs Facebook]

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So it's just a condo-hotel?

Sounds like a standard condo-hotel (as seen in most tourist destinations), that is being sold "exclusively online."  The most noticeable difference is that maybe you don't own a specific room, and instead of getting to stay in your own room free (subject to availability), you have to pay 75% of the standard rate.

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