Great investment property this is an independent property located in a suburban location close to Cleveland. The property was sold at auction two years ago and the current ownership has not improved the financial operations so the property is up for sale again.
Our assessment of the investment is that it is ideal for a market reposition. Sales and market share have been dropping for the last three year. The property was done wedding and meeting business but the condition of the property and lack of marketing have seen sales declines in all revenue departments. Additionally the water park that was added a few years ago does not contribute significantly to the operation with insurance cost and labor the water park is a break even with and does not significantly contribute to the room income since most customers are not staying overnight.
Repositioning the venue that already does good meetings and wedding business would improve the operation dramatically and closing the small water park which does not enhance lodging income would add some 30,000 sq. ft. of meeting and wedding space to the site.
With property renovations (the property is very dated) and an improved upscale spa operation with new treatments would also dramatically improve income and help to bring local customers into the facility. The property is currently under-performing the competitive set of properties by over 10% but improved management and repositioning and investment would make this property the comp set leader.
These improvements in facility and managements could double the wedding and corporate meeting income and updating the facilities including room would bring more business to the property.
The purchase is estimated at 3.5 Million
Renovations of sleeping and meeting rooms 4 million
Sustainable features to enhance the property 2 Million
Investor would be looking at a five year payback with yearly interest.
This property is a great turn around opportunity current revenue is approximately five Million yet the property is underperforming the comp set. In a running 12 month STR report occupancy is 17% under the competitive set.
Running 12 month STR report ADR is 9% under the competitive set so with proper management and branding this property will produce a good return in four years. The Airport area has limited entry to other properties and the lack of proper.
The property has a massive three story antrum which is used and with an investment in renovation. The airline dead head market is deal at this location. 15 Million to acquire an large airport property generating 5 million in sales that could easily do much better.
Four year investment timetable with 100% return.
This property is a great turn around opportunity current revenue is approximately two million yet the property is underperforming the comp set. In a running 12 month STR report occupancy is 12% under the competitive set. The property has a current IHG brand and the restaurant is also leased and branded
Running 12 month STR report ADR is 8% under the competitive set so with proper management and branding this property will produce a good return in four years. The Airport area has limited entry to other properties and the lack of proper.
The property has a massive two story antrum which is used and with an investment in renovation. The airline dead head market is deal at this location. 7 Million to acquire an large airport property generating 2 million in sales that could easily do much better.
Four year investment timetable with 100% return.
Windmill International has exclusive rights to development of two beach front properties in Martinique FWI. Both properties are available for development and represent a significant opportunity for upscale development of these two locations. Martinique is a mayor destination location for both EU and American tourists. Direct flight leave Paris for the island and three major cities New York, Boston and Miami have flights to the island.
The first property 66 units which include two acers of beach front land and older building is located near the city center. The quality of the existing facilities main and outbuilding do not meet the luxury market that should be targeted on this Island. So we are expecting to demolish the old facilities and replace them with a mixed use complex that will include a luxury hotel with sellable Villas and time share units.
The second property includes six acers of breach access land located on the resort side of the Island here we are expecting to demolish the older 133 unites and create a luxury mixed use resort with Spa and casino operations. We will develop Sustainable Luxury Villas to sell along with condo or time share units along with a hotel element attached to the main building with restaurants and casinos.
Both properties offer dramatic upside potential because of limited ocean front property available for sales in the hot tourist destination. Agreements for management and branding have already been negotiated with Windmill International hotels and resorts. Sales Price is 6.8 Million Euro for both properties and we estimate another 8million in development of the two resorts. But completion will offer investors with interest income from the sale of the Luxury Villa to private owners and other income from the resort operations at two locations.
This is a great site with lusts of investment potential and a five year 100% payback.
This property which is in receivership represents a great upside for investors who are seeking to position themselves in this upscale area for development. The working vineyard with a small 20 room inn has had bad management that lacked the ability to successfully rum the property.
We see significate upside potential because of the 100 Hectors of land available for development and the close location to Siena and Florence. This market area has seen significate growth in recent years and lacks an upscale facility. With the development of a mixed use development we would increase the number of sleeping rooms to 60 luxury suites along with development of a partial of land for some twenty time share Villas. We envision a sustainable organic wine brand that would continue to be produced on the property but would also tie it into a destination location for meetings and weddings with a larger facility.
In receivership now the property can be acquired for seven million Euro but to make a destination location would requires an additional investment of approximately six million Euro the final investment number is not set since the property is in receivership and we do not have full access to complete a due diligence however we do see dramatic potential in this property.
We can commit to investors once due diligence is confirmed guaranteed interest income and a 100% return of investment in six years.