“Condominium-hotel project” is defined as 1) a project to convert a hotel or lodge into a condominium-hotel project; or 2) the creation of a condominium-hotel project, which created condominium units will be available for resale to third parties and which will continue to be marketed, managed and operated similar to a hotel. The conversion of a hotel into a Condominium-hotel Project or the creation of a condominium-hotel project shall meet the applicable requirements of the LUC, including but not limited to the provisions of Section 6-412, et seq.