A condo hotel, also known as a condotel, hotel condo or a contel, is a building which is legally a condominium but which is operated as a hotel, offering short term rentals. Individuals own each unit, although the complex shares amenities like lobby registration and a cleaning service. When owners are away from the property, they have the option to make income by renting their condo out for short-term vacation stays.
A fully furnished residence in the resort hotel can be used as your residence, vacation home or your investment property.
Prices for condotels vary, but here's few examples:
Owner of condotel can enroll the unit in a hotel rental program for a fee, hotel will rent out your unit through front desk.You can also use AirBnb and similar sites to rent it out personally, if you desire.
Or you can hire a third party company that would rent it out for you and manage it for you. Check out this site to see example of rental rates, here