Would I be buying one unit to individually own and manage, similar to a condo vacation rental, or I would buy it and then the general hotel management team would manage and rent it?

The Hotel Condominium is exactly the same as any other Condominium vacation rental. Each unit is individually owned.
The Hotel management company will rent out the units for owner who are not using their unit – if they wish so. 
Income is shared with 75% to owners and 25% to the management.