Evaluating Condo-Hotel Investments At Belize Marriott Residences

Thinking about a condo-hotel at the Belize Marriott Residences but want clear numbers before you dive in? You are not alone. Many buyers want the lifestyle upside of Ambergris Caye with a rental program that can carry its weight. In this guide, you will learn what to verify, how to build a practical pro-forma, and which documents to demand so you can invest with confidence. Let’s dive in.

What you’re buying and where

The Belize Marriott Residences of Ambergris Caye are marketed by ECI Development as a beachfront resort with branded residences adjacent to San Pedro Town. Start with the developer’s overview to see unit types, example pricing, and HOA estimates on the model pages. Review the developer’s community page for the project snapshot and current marketing status at the Belize Marriott Residences of Ambergris Caye.

Practical location note: San Pedro sits on Ambergris Caye and is part of Belize District, not Corozal District. You will model demand and logistics around San Pedro and the island market. See the San Pedro Town entry for basic context.

The project was first announced in 2018, with a public groundbreaking reported in January 2022. Always request the current construction schedule and proof of funds or escrow details before you rely on any timeline. You can see the initial announcement context in this hospitality trade release.

Local reporting and developer statements indicated that only a portion of residences are intended for private ownership, with a meaningful number retained by the developer. Ask for the latest unsold inventory list and the exact count of developer-held units, since those can affect future supply and rental pool dynamics.

• Reference: Developer overview of Belize Marriott Residences (ECI)
• Reference: San Pedro location note
• Reference: 2018 announcement context
• Reference: Local reporting on private vs. developer-held units

Prices, HOA and closings

The developer’s Courtyard studio model page shows a published price of 319,900 dollars with a listed HOA figure of 313 dollars. Treat the model page as a starting point and confirm fee frequency and what the fee includes.

At closing, budget for common Belize transaction costs. Non-Belizean buyers are often quoted an 8 percent government stamp or transfer duty after a small exemption. Legal fees are commonly about 1 to 2 percent, plus registration and admin costs. Ask a Belize attorney and tax advisor if GST applies to your specific condo purchase. See a local legal overview of common fees and taxes here.

• Reference: Courtyard studio example price and HOA
• Reference: Overview of stamp duty, legal fees and GST considerations

Ongoing owner costs to model

Beyond closing, plan for these recurring items:

• HOA and reserves. Get the full HOA operating budget and reserve study. Ask what is included in the fee, how increases are set, and current reserve targets.

• Insurance. Beachfront properties typically require robust wind and hurricane coverage, which can be a material recurring cost. Request sample quotes for your exact unit type.

• Local lodging and business taxes. Belize collects an accommodation tax administered by the Belize Tourism Board. Confirm all tax handling with your tax advisor and how rental taxes are withheld or remitted in the program you select.

• Reference: Belize Tourism Board administers accommodation tax

How rental programs work

Condo-hotel inventory can be placed into different structures. Ask which one applies here and request the signed agreement that governs owner economics:

• Hotel-managed rental pool where the operator sets rates, manages guest services, and pays owners net proceeds.
• Brand licensing with third-party management where the brand name is licensed and a separate operator runs daily operations.
• Private ownership and self-management where you list and manage your own rentals.

Brand exposure through Marriott channels helps visibility, but it is not the same as a Marriott Hotels management franchise. Request the signed management or franchise agreement and verify exactly how your unit will be distributed and priced.

• Reference: Example of Marriott Homes & Villas distribution in San Pedro

Fees and the owner waterfall

In hotel-style programs, the combined take from management, distribution and services can be significant. You should see, line by line, what is deducted from gross rent before your payout.

• Management and marketing fees often run in the 20 to 40 percent range of gross revenue depending on scope. Some full-service programs can be higher once daily housekeeping, F&B commissions and OTA distribution are included. See a market example of full-service fee structures.

• Housekeeping, linen and supplies may be billed to you or recovered from guests. Verify turnover fees, how owner stays are charged, and whether utilities are owner-paid.

• Distribution channels. Ask whether your nights are sold through brand reservation systems, Marriott Bonvoy channels, Homes & Villas, OTAs and direct. Each carries different commission levels and pricing rules.

• Reference: Example of management and marketing fee ranges

Pro-forma inputs to demand

Every pro-forma should make these inputs explicit so you can test them:

• ADR by month and occupancy by month, with the data sources behind them. Belize Tourism Board metrics point to strong seasonality and recent growth in arrivals, which you should see reflected in the seasonal ADR and occupancy curve.

• All deductions and the owner waterfall, including management and marketing fees, OTA commissions, housekeeping, and local taxes withheld at source.

• Fixed owner costs, such as HOA, insurance, property tax, and capital reserve contributions.

• Owner-use rules, including blackout dates, cleaning charges for owner stays, and your right to transfer or terminate a management agreement.

• Reference: Belize Tourism Board tourism growth and seasonality

Stress-test your numbers

Always run sensitivities on ADR and occupancy. At minimum, calculate net owner yield at ADR plus or minus 20 percent and occupancy plus or minus 10 percentage points. Then add any mortgage debt service and compute the break-even occupancy at which cash flow is zero.

Break-even occupancy formula on an owner-cashflow basis, ignoring debt: break_even_occupancy = fixed_owner_costs / [ADR × 365 × (1 − combined_variable_rate)]. If you have annual debt service D, replace fixed_owner_costs with fixed_owner_costs + D and rerun the math.

Worked example: Courtyard studio

Here is an illustrative arithmetic example using the developer’s published Courtyard studio inputs as a test case. Replace these with the actual program’s numbers.

• Published price: 319,900 dollars. Model page lists an HOA figure of 313 dollars. Confirm fee frequency and inclusions.
• Fixed annual costs assumed for this example: HOA 3,756 dollars, insurance 3,000 dollars, property tax 300 dollars, capital reserve 1 percent of price, about 3,199 dollars. Total fixed 10,255 dollars.
• Variable costs assumed: management, marketing and distribution combined at 30 percent of gross; operating consumables at 10 percent of gross.
• ADR and occupancy scenarios for a well-managed island property, based on local market ranges used for sanity checks, not a promise of performance:
  • Conservative: ADR 200 dollars, occupancy 45 percent. Gross 32,850 dollars.
  • Mid case: ADR 245 dollars, occupancy 60 percent. Gross 53,655 dollars.
  • Optimistic: ADR 300 dollars, occupancy 75 percent. Gross 82,125 dollars.

Net to owner after variable and fixed costs in this example:

• Conservative: about 9,455 dollars, roughly a 2.96 percent net yield on price.
• Mid case: about 21,938 dollars, roughly a 6.9 percent net yield.
• Optimistic: about 39,020 dollars, roughly a 12.2 percent net yield.

These are simplified owner-cashflow illustrations. They exclude financing and do not substitute for a signed rental agreement waterfall. Ask the sales team for a sample owner statement that shows how a real booking flows from gross rent to your net payout.

• Reference: Courtyard studio model page (pricing and HOA)

Risks, red flags and protections

• Management agreement status. If the team cannot provide a signed management or franchise agreement that governs owner economics, press pause until you receive one.

• HOA transparency. You should see a full operating budget, reserve study, and the last HOA meeting minutes. If the HOA budget is vague, treat the developer’s HOA number as provisional.

• Special assessments. Ask about upcoming capital projects and whether owners could be assessed over the next five years.

• Developer-held inventory. Confirm how many units the developer will retain and whether those nights will enter the rental pool at promotional rates that could compress ADRs.

• Titling path. Have a Belize real-estate attorney explain the title approach and timing, particularly if the project uses strata title or a corporate share structure.

• Reference: Local reporting on developer-held share of inventory

Buyer’s short checklist

Request these documents before you go firm on a contract:

• Signed management or franchise agreement that names the operator, shows the owner revenue waterfall, and spells out term and termination rights.
• HOA budget, reserve study, latest financials, and a clear explanation of what the HOA fee covers.
• The developer’s pro-forma with the data sources used for ADR and occupancy, plus a sensitivity table.
• Construction schedule with milestones and clear escrow or proof-of-funds arrangements for buyer deposits. Ask what remedies apply if completion is delayed.
• Evidence of title approach and timeline, explained by your Belize attorney.
• Current list of sold units, unsold inventory and a unit map. If available, request a sample owner statement from a comparable ECI project.

Next steps

A branded condo-hotel on Ambergris Caye can deliver both lifestyle and income when the contracts, fees and rental mechanics are crystal clear. Use the framework above to vet the Belize Marriott Residences and insist on the documents that protect your returns. If you want a second set of eyes on the numbers or help sourcing comparable options on the island, connect with Dawn Young for transparent, North America-facing guidance from discovery through management.

Dawn Young

FAQs

What is the Belize Marriott Residences on Ambergris Caye?

• It is a beachfront resort with branded residences marketed by ECI Development near San Pedro Town on Ambergris Caye, with unit models and HOA estimates shown on the developer’s pages.

Is San Pedro in Corozal District or Belize District?

• San Pedro Town sits on Ambergris Caye and is part of Belize District, so you should model demand, flights and logistics based on the island and Belize District.

What closing taxes should I budget for in Belize?

• Non-Belizean buyers are commonly quoted an 8 percent stamp or transfer duty after exemptions, plus legal fees around 1 to 2 percent and registration costs; confirm exact treatment with a Belize attorney.

How do Marriott channels impact rental demand?

• Brand distribution can boost visibility, but you need the signed management or franchise agreement to know how your unit is sold, which channels are used, and how pricing and fees are handled.

What are typical management fees in condo-hotel programs?

• Full-service programs often range from about 20 to 40 percent of gross revenue before owner payout, sometimes higher once housekeeping, F&B and OTA commissions are included.

How should I estimate ADR and occupancy for San Pedro?

• Ask for monthly ADR and occupancy backed by third-party sources and compare against independent island comps and Belize Tourism Board seasonality data before you rely on a pro-forma.