SAN DIEGO -- It's the hot housing concept in places like Las Vegas and Orlando, and now, the hotel-condo hybrid or "condo-tel" is coming to San Diego.

Imagine a luxury high-rise hotel that sells like downtown condominiums.

It's the pampered life seen in old Hollywood movies -- living in a hotel full time.

But before you book a 365-night stay at the Waldorf Astoriaé, take a look at The Diegan, San Diego's first condo hotel.

The concept seems to be catching on. The new hotel planned for the new downtown Hard Rock Hotel will also be a hotel condo hybrid.

As an owner at The Diegan you will have an all-access pass to all the amenities of the hotel which include a spa, world class restaurant, and high end bars.

Owners also benefit from room service, housekeeping, and concierge with the benefits of home ownership.

"It's a hybrid vacation home ownership product where you enjoy the amenities of your hotel room that you purchased as a buyer and when you are not using it you share in the revenues with the hotel operator," said Diegan president Jim Trammell.

Construction on the former Woolworth building at Fifth and Broadway starts next month.

The design theme is "urban beach." Solar panels on the roof generate 20 percent of the hotel's power needs.

A studio can be had for $450,000, while a luxury penthouse could set you back over $2 million.

"The concept of the hotel that we're looking at is similar to owning a condo in a ski resort," said real estate economist Gary London.

He says the concept isn't new, only the terms.

"The difference is that theoretically you'll be able to achieve more revenue per unit by renting it nightly," London said.

London says tourism and convention business keep hotel demand high.

Besides being located in beautiful San Diego, residents benefit by the amenities of their downstairs neighbors, the San Diego House of Blues. Live music is only as far as the nearest elevator.

But what if a touring heavy metal band trashes your room?

"You have a management company that insures the unit and takes full responsibility for the up-keep of the unit," London said.

Still, he warns to always look at the bottom line. Buyers should understand responsibilities, expenses, and returns.

So if room service is your thing, you could consider calling a hotel home.