Condo Hotels - Too good to be true??

“Condo Hotels” are located in luxury hotels in vacation places. If you buy one, you can use it as a vacation home. When you are not using it, it is placed in the hotel’s rental program and you receive a portion of the revenue it generates. These investements are offered with the promise of high cash flow and appreciation. Plus you do not have the headache of being a landlord, using property managers or worrying about maintenance. It’s all taken care of.

Is this too good to be true? Where is the catch? Anybody have experience with this type of investment? Any insight you can share in this regard would be greatly appreciated.