Life in a Hotel is Becoming An Alternative to Buying Property.
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Friday, 1st November 2013
AN army of staff to cater to your every whim, around-the-clock concierge, and no neighbours - the benefits of living in a hotel far outweigh the hassle of homeownership for many.

Palazzo Versace (below), the Gold Coast hotel where residents can buy an apartment from about $1 million. Source: News Limited
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Margaret Thatcher chose to recuperate at the Ritz in London after an illness in her final months rather than return home, and Coco Chanel once declared: "The Ritz is my home", in reference to the Paris hotel where she lived from 1934 until her death in 1971, CNBC reports.

Celebrated French fashion designer, Coco Chanel lived in this suite at The Ritz, Paris. File photo. Source: News Limited
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Even alternative artists such as Salvador Dali and Oscar Wilde spend long periods of time living in hotels.

But perhaps it was the actor Richard Harris who best described a life of leisure in a hotel.

The 15-year guest of The Savoy in London said: "If you're paying the mortgage on a home, you can't ask the bank manager to fetch you a pint."

For professional jetsetters, hotel life can be an alternative to owning apartments in multiple cities and could even work out cheaper than paying for upkeep, maintenance or for full-time staff.

Some hotels, such as The Lanesborough in London even offer to store the belongings of regular guests - from suits and ties to furniture - and lay them out when they return.

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