Mandarin Oriental Tower

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HOTEL RENTAL PROGRAM OVERVIEW AND FREQUENTLY ASKED QUESTIONS:

What is a condominium hotel?

Who manages the hotel and the rental program?

What are the expenses of a condominium hotel?

May I furnish my own room?

Are all of the rooms in the Mandarin Oriental, Chicago Hotel being sold as condominium units?

Where can I find more information about the hotel business in Chicago?

What are the benefits to of being a room owner in a condominium hotel?

ABOUT THE RENTAL PROGRAM:

Is participation in the rental program mandatory?

If I put my room in the rental program, can I still stay in it when I want to?

How does the rental program work?

How does my room get rented?

How is rent calculated?

How long is the unit rental agreement?

Where can I find more information about the rental program?

Click here for a printable version

Q. How long is the Unit Rental Agreement?

The unit rental agreement is structured like a lease and is for an initial term of five years. As explained in more detail in the unit rental agreement, a room owner may terminate the agreement after three years upon payment of buy-out damages to the hotel. When a room owner sells his/her unit, the buyer receives the benefit of and must assume the unit rental agreement.

Neither Mandarin Oriental Hotel Group nor any affiliate thereof, nor their respective Officers, Directors, Agents or Employees are in any way offerors, issuers or underwriters of any offering for sale of the real property constituting Mandarin Oriental Tower, Chicago.