Developers Have Chance To Add Cyprus As New Destination For Members
May 30, 2008 | Leave a Comment
Cyprus Inventory For Sale - Up To 1,400 Weeks Available
A resort developer in Cyprus is offering up to 1,400 weeks for sale to other developers or marketers.
This is a great opportunity for larger developers to absorb this inventory into their own system and add Cyprus as a new destination for their members. For more information visit http://www.thetimeshareblog.com/cyprus-timeshare-inventory-for-sale/
Cyprus tucked away in the top right hand corner of the Mediterranean is so close to Europe, Asia and Africa that it rightly, claims to be a stepping stone to three continents .
An island whose rich dramatic history can be traced back over nine thousand years; an island so coveted over the centuries that it has been invaded and claimed by a fascinating mixture of civilizations from near and far all of which have left their culture and shaped its character.
An island whose archaeology stems from the Neolithic Age, the Ancient Greeks and the Roman period; where churches and monasteries still stand from Byzantine times; castles and palaces from the days of Crusaders and Frankish Lusignans and splendid city walls from Venetian days.
An island chosen by the mythical gods and goddesses of Ancient Greece who indulged themselves here in sport pleasure and tragedy; where Aphrodite goddess of love and beauty, emerged from the Pafos foam to become a famous cult figure - centre of attraction for the first visitors who flocked to the island to worship her.
With such a historic and legendary background it is hardly surprising that Cyprus has developed a character which is quite unique. It is blessed with beauty, natural beauty that ranges from golden beaches and rugged coastlines to rolling hills and forest clad mountains, dotted with picturesque villages.
Silverjet Suspends All Flights As Would-Be Invester Fails To Deliver
May 30, 2008 | Leave a Comment
Silverjet has ceased flying today after it revealed that it no longer has the funding to operate.
Last Friday, the airline asked the London Stock Exchange to suspend its shares after it announced that it had secured a $25 million (£12.7 million) investment to continue to trade but the company admitted that the funding had not yet emerged.
Today, it suspended all flights and said the last flight took off at 7.30 this morning from Luton on its way to Dubai.
Silverjet said other airlines were not obliged to honour unused tickets and is advising passengers return flights to make their own arrangements. The airline said customers who have booked flights via credit card should be able to receive money back from their credit card company or from their travel agent. However, others are unlikely to get their money back, it said.
As fuel prices soar, Silverjet is not the first airline to cease trading. Oasis Hong Kong Airlines recently announced it was to stop flying and applied for a voluntary liquidator.
US carriers including ATA Airlines, Aloha Airgroup and Skybus Airlines all ceased trading in March and EOS and Maxjet recently announced that they would cease flying.
Last night, Silverjet said that its would-be Abu Dhabi investor had still failed to provide it with the $5 million cash loan it had promised under a rescue deal and that it was left talking to just one potential rescue investor.
In a statement this morning, Silverjet said it continues to be in discussions with investors interested in supporting the business, however, it has yet to conclude such discussions to its satisfaction.
The airline, which claimed to be the world’s first carbon neutral airline, commenced trading in January 2007 and operates three aircraft. The company has a workforce of around 330 people in Luton.
VH Dubai And RCI Sign Agreement To Offer Fractionals On Palm Jumeirah
May 25, 2008 | Leave a Comment
RCI, the global leader in vacation exchange, and one of the Wyndham Worldwide family of brands (NYSE: WYN), and VH Dubai have entered into an affiliation agreement whereby VH Dubai will offer prospective purchasers the opportunity to own a piece of the Palm Jumeirah.
This eagerly awaited fractional ownership project offers buyers a chance to purchase one of VH Dubai’s luxurious suite apartments, as well as be a part of the The VH Residence Club. VH Dubai is committing over 50 apartments to the Residence Club all of which are made up of 2 bedroom apartments. This is the first fractional offering of its kind by VH Dubai in Dubai.
Nick Turner, Managing Director RCI Middle East E.C., commented on the opportunity: “VH Dubai is offering the chance to own a portion of this idyllic eighth wonder of the world at a fraction of the cost of buying outright. RCI is pleased to be aligned with them on this project and to provide global services and benefits to future VH Residence Club owners.”
“Due to the thriving interest and intrigue surrounding Dubai, guests are attracted to this stunning location at exponential rates and VH Dubai’s unique offerings have been excellently received,” said Umar Mian, CEO and Managing Director of VH Dubai and The VH Residence Club.
Since its debut in 2007, VH Dubai’s occupancy levels have averaged over 90 percent and this innovative company has achieved unprecedented growth in its opening year of operation.
“Due to overwhelming response from past residents, we are now able to offer our guests the opportunity to own a piece of the property for themselves,” added Mian.
For additional information on the services offered to developers by Group RCI and how they can add potential value to leisure real estate projects, visit www.grouprci.com
Timbers Resorts And PlumpJack Group Form New Alliance
May 25, 2008 | Leave a Comment
First Project Will Be The Orchard At The Carneros Inn In Napa Valley
As part of a new venture, Timbers Resorts and PlumpJack Group have reached an agreement to work in partnership on several current and future projects. Serving complementary roles, Timbers Resorts is a leader in the development of private boutique resorts in the U.S. and internationally, currently numbering six properties, while PlumpJack is renowned for its wines, restaurants, boutiques and inns in the Northern California market.
Timbers Resorts has taken over management of the real estate operations at The Orchard, a private residence club located within PlumpJack’s renowned boutique resort, The Carneros Inn overlooking the beautiful Carneros winegrowing region in Napa Valley, California. Now a part of the Timbers Collection, The Orchard comprises 17 luxury cottages set within the resort and offering owners full access to The Carneros Inn’s premium lifestyle, services and amenities.
Additionally PlumpJack will manage the overall hospitality operations, spa and Truffle Pig restaurant for Timbers Resorts at One Steamboat Place in Steamboat Springs, Colorado. Future collaborations will include the residences at the new PlumpJack Squaw Valley Inn following its spring 2010 renovation, located at the base of the Squaw Valley USA. And a Timbers Resorts oceanfront private resort in Mexico — featuring an upscale beach club, dining venue, spa, a residence club and full residential component — that PlumpJack will manage.
“Timbers Resorts and PlumpJack are like-minded companies that provide only the finest properties and services for our guests,” remarked Timbers Resorts Founder and CEO David Burden. “This alliance will result in a series of Timbers Resorts/PlumpJack ventures that will add to the Timbers Collection as well as to the PlumpJack family of wonderful offerings.”
“Combining Timbers Resorts’ ability to create prime real estate opportunities and PlumpJack’s expertise in approachable luxury, we will be able to provide our guests and residents with unforgettable experiences at our highly sought-after destinations,” said PlumpJack Group President, CEO and Partner Rick Riess.
Timbers Resorts will work to create great real estate opportunities in highly sought after resort venues and PlumpJack will provide the ongoing personal attention and relaxed yet luxurious dining, lodging, spa and other amenity experiences for which it is renowned.
Perspective Magazine Adds To It’s Coverage Of Industry Events With The Fractional Summit
May 25, 2008 | Leave a Comment
Perspective Magazine, (www.theperspectivemagazine.com) the most read independent B2B publication for the timeshare and shared ownership industry already covers 9 major industry conventions around the world; including ARDA, CRDA, ATHOC, OTE & VOIC and now has become a media sponsor for the upcoming Fractional Summit in London this July.
Details Below:
Fractional Ownership Conference, July 7th 2008, London
Join us at the first UK based Fractional Property Conference Monday 7th July 2008 at the prestigious Andaz Hotel, City of London. Recently identified by the J Walter Thompson agency as the key consumer trend in 2008, if you are at the forefront of the burgeoning fractional property sector in the UK and Europe, or want to meet those who are, book now at www.fractionalsummit.com
Over the last few years, the vision and boldness of industry leaders in the UK and Europe has transformed the fractional marketplace and created one of the world’s fastest growing areas of consumer real estate, with fractional property at its core.
To reflect this, Fractional Summit 2008’s theme, ‘Fractional ownership – a lifestyle and investment choice of the future?’ is set to look at the growth in the fractional marketplace to date and the future of the UK and European economy and its impact on overseas property.
Limited places available and full speaker programme now online.
“I suggest you put this in your July schedule now if you are interested in the Fractional Ownership business and how it will develop in the coming years.”
Eric Gummers, Partner, Head of Leisure and Hospitality, Howard Kennedy, http://www.howardkennedy.com
“A unique opportunity to meet the movers and shakers of the fractional industry and to gain a unique insight into the fractional property marketplace.”
Piers Brown, Fractional Life, http://www.fractionallife.com
Who Should Attend? Real Estate Developers, Exchange Companies, Fractional and Vacation Ownership Sales / Marketing Managers, Fractional Consultants, Fractional Entrepreneurs, Hospitality Management, Financial Instituitions, Legal Professionals, Investment Representatives, Suppliers of Value Added Programs and Incentives,Hospitality Industry Suppliers
Industry Sectors: Fractional ownership, Residence Clubs, Condo Hotels, Buy-To-Let Hotel Room Concept, Multi Destination Club Systems
Fractionallife.com is the fractional web portal providing a one-stop site to assist consumers in making sense of the currently expanding fractional ownership marketplace.
The website is also specifically designed to give the consumer the choice of the best of everything at a fraction of the cost, all under one roof in a ‘fractional superstore’.
Howard Kennedy is a leading law firm located in the heart of London’s West End, committed to providing practical commercial advice to our broad national and international client base.
For more information please visit:
http://www.fractionalsummit.com
http://www.fractionallife.com
http://www.howardkennedy.com
Indian Co BJETS Places $330mn Order For Jets
May 25, 2008 | Leave a Comment
Indian fractional air charter firm BJETS has placed a major order with the US company Hawker Beechcraft to acquire ten Hawker 4000 business jets worth over $330 million.
This new order, with options for five additional aircraft, compliments BJETS’ previous order for the purchase of 11 Hawker 900XP and nine 850XP business jets for their fractional fleet throughout India and Southeast Asia.
BJETS, a private company based in Mumbai and Singapore, provides fractional and block charters to corporate houses and high networth individuals. It has a flight operations centre based in Hyderabad.
Fractional ownership means a person or a company can make part payment for the aircraft and operate it in accordance with their own requirement.
BJETS CEO Mark Baier said the key factors which led them to select Hawker business jets were its advanced design, performance and exceptional cabin which “surpassed the standards we expect for our customers”.
“We are delighted to once again provide BJETS the best aircraft in the industry for their private jet travel services,” Brad Hatt, President (Commercial Aircraft) of the Kansas-based Hawker Beechcraft Corporation, said.
India, according to Hawker Beechcraft, is the third largest geographic region after US and Brazil, for the sale of its products, a release said.
The Hawker 4000 is a “super-midsized aircraft with long-range features”, which can attain a height of 37,000 feet. It is powered by Pratt&Whitney’s PW308A engines.
aloft Hotel Breaks Ground In Aventura, Florida
May 25, 2008 | Leave a Comment
New concept hotel to open in one of Florida’s Premier Golf Communities in 2009
aloha! Starwood Hotels & Resorts Worldwide, Inc.(R) (NYSE:HOT) and its much-anticipated new lifestyle brand, aloft(sm) hotels, announces a groundbreaking celebration today at 11 a.m. for the new aloft hotel in Aventura, Florida. Developed and owned by Cabi Aventura Hotel, LLP and Aventura Development, aloft Aventura Hotel is scheduled to open in the fall of 2009. The 215-room hotel will offer a variety of intuitive technologies and atmospheric public spaces, including a 5,000 square foot meeting space.
aloft Aventura Hotel will be conveniently located between Miami and Fort Lauderdale in what is known as a golf haven due to its vast selection of premium courses. Just minutes from world-famous South Beach, the community offers balmy weather, beautiful parks and easy access to Miami Seaquarium, Coral Gables, Hollywood Greyhound Track, and the Aventura Mall - a 2.4 million square foot retail center with fine dining, upscale shopping and entertainment. The new-construction hotel will be located at 2777 NE 185th Street, several minutes from both the Miami International Airport and Fort Lauderdale/Hollywood International Airport.
“The dynamism and sophistication of the aloft brand will complement the energy of Aventura, one of Florida’s most appealing communities,” said Brian McGuinness, Brand Leader, aloft hotels worldwide. “Youthful-minded travelers will appreciate the aloft brand’s emphasis on creativity, culture and style.”
“Bringing aloft hotels to Aventura fits with the growing community’s active and chic lifestyle,” said Misha Mladenovic, VP of Development for Cabi Developers. “aloft Aventura Hotel will provide a getaway from the area’s fast-paced environment, while staying true to the glamour and essence of South Florida.”
As a Vision of W Hotels, aloft hotels are shaking up the lodging industry with urban-influenced design, accessible technology, style and a social atmosphere. aloft hotels offer a total sensory experience, with guest rooms featuring loft-like nine-foot ceilings and oversized windows to create a bright, airy environment. The centerpiece of each aloft room is the plush platform bed, and large stylish bathrooms complement the guest experience with oversized walk-in showers and amenities created by bliss(R) spa. Each aloft room is also a combination high-tech office and entertainment center, featuring wireless internet access and a one-stop connectivity solution for multiple electronic gadgetry such as PDAs, cell phones, mp3 players and laptops - all linked to a large flat panel LCD television for optimal sound and viewing.
Designed in conjunction with world renowned David Rockwell and the Rockwell Group, aloft hotels stay true to the W Hotel brand’s heritage, offering atmospheric public spaces designed to draw guests from their rooms to socialize and make friends. Guests can read the paper, work on their laptops via hotel-wide wireless internet access, play a game of pool or grab a drink with friends at the re:mix communal lobby area and bar w xyz. The re:charge fitness center and the indoor or outdoor pool, give travelers options to de-stress and re-energize; while the re:fuel by aloft one-stop food and beverage area, offers sweet, savory and healthy food, snacks and beverages to grab & go, 24-hours a day.
About aloft
An instant hit in the development community, the first aloft hotels are scheduled to open in summer 2008. The aloft brand has already announced more than 60 development projects, in more than 10 countries. In 2009, the aloft brand will continue its momentum with the opening of more than 50 hotels broadening the international footprint and domestically positioning aloft hotels in markets previously underpenetrated
The first aloft hotels are scheduled to open in Chicago O’Hare, IL, Minneapolis, MN, and Philadelphia Airport, PA, Lexington, MA, Ontario-Rancho Cucamonga, CA, Rogers-Bentonville, AR as well as Montreal Airport and Beijing, China. Scheduled to open in 2009 are aloft Brooklyn, NY, Denver International Airport, CO, Dallas, TX, Atlanta, GA, Las Vegas, NV and Toronto, Canada.
For more information on aloft hotels, visit www.alofthotels.com.
About Starwood Hotels & Resorts Worldwide, Inc.
Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with approximately 900 properties in more than 100 countries and 155,000 employees at its owned and managed properties. Starwood Hotels is a fully integrated owner, operator and franchisor of hotels, resorts and residences with the following internationally renowned brands: St. Regis(R), The Luxury Collection(R), W(R), Westin(R), Le Meridien(R), Sheraton(R), Four Points(R) by Sheraton, and the recently launched Aloft(SM), and Element(SM). Starwood Hotels also owns Starwood Vacation Ownership, Inc., one of the premier developers and operators of high quality vacation interval ownership resorts. For more information, please visit www.starwoodhotels.com.
About Cabi Developers
Cabi Developers is the U.S. subsidiary of GICSA, Mexico’s foremost development company. Since entering the U.S. market in 2000, the company has successfully developed and operated in Florida, California and Texas. In South Florida, Cabi Developers has completed The Parc at Turnberry Isle, a 111-unit residential development and Country Club Center in Aventura, a Class-A office building.
Current Projects include:
– Capital at Brickell, a development of more than $500 million in the Brickell area, which is Miami’s financial district. The project, with expected completion in 2011, will consist of residences, offices and retail.
– Everglades on the Bay, a mixed-use development located in the heart of Downtown Miami with more than 800 condominium units and 58,000 square feet on ground-floor retail, which is set for completion in Summer 2008.
– Naya Miami Beach, a 7-story residential building comprised of seven luxury town homes, 20 condominium units, and 15 penthouses. The project is located in Miami Beach with an anticipated completion date of September 2009.
– Bella Vista Hotel, a 12-story, 4-star hotel with 351 units located in San Antonio, Texas. Development is scheduled to begin in October 2008 and the opening is anticipated for July 2010.
– The Residences at Bella Vista, the second phase of Bella Vista Hotel in San Antonio, Texas will include a 15-story condominium complex with 250 units.
Sol Meliá Vacation Club Reports Strong Start To 2008 With Impressive First Quarter Results
May 25, 2008 | Leave a Comment
Following a banner year in 2007, after just three years in operation, Sol Meliá Vacation Club (SMVC) is reporting a strong start to 2008 and its fourth year with a total revenue increase of 22 percent for the first quarter of 2008, over the same period last year. The overall improvement in revenues, along with improved costs and operating expense efficiencies, has also resulted in a continued strong EBITDA margin of 41 percent for the first quarter.
The Orlando-based company, which is part of Spain-based Sol Meliá Hotels & Resorts, continues to gain sales momentum with the success of new projects in Mexico, Puerto Rico, Spain, the Dominican Republic and Central America and the launch of its deluxe four-bedroom villas product which is marketed and sold as a multiple weeks package.
“The quality of our internationally branded Club product and efficiency of our global sales programs are what distinguish us,” said Alain Grangé, Chief Executive of Sol Meliá Vacation Club and Sol Meliá Leisure Real Estate. “With over 20,000 active members since our inception, SMVC is rapidly growing its portfolio of international resort locations and is a strengthening force of Sol Meliá’s overall leisure real estate focus.”
In 2008, Sol Meliá Vacation Club will open new projects in Punta Cana, Dominican Republic, the Canary Islands, Spain and the second phase of Sol Meliá Vacation Club at Gran Meliá Puerto Rico.
Sol Meliá Vacation Club is an internationally-branded membership club that focuses on providing leisure lifestyle experiences that include exotic destinations, designer-appointed luxury accommodations, exclusive services and unforgettable amenities. The leisure lifestyle concept is designed to provide members with an entire lifetime of leisure experiences to meet their ever changing needs. All members have access through SMVC to stay at all Sol Meliá’s hotels and resorts worldwide, including those in destinations such as Paris, London, Madrid, Rome and more.
Sol Meliá Hotels & Resorts is a 50-year-old international hospitality company with 350 hotels in 30 countries on five continents. Sol Meliá Vacation Club members enjoy the best of both worlds: all the conveniences and amenities of a world-class resort, plus the value, flexibility and choice that vacation membership offers throughout the Sol Meliá Vacation Network. Members have more vacation lifestyle options through global luxury accommodations in a variety of unique resort and urban destinations around the world as well as the flexibility to choose the length of stay, season and size of unit. In addition, Members can save their vacation time from one year to the next if needed, borrow from future vacation years to create a special experience that could include airfare or a spectacular cruise, divide their vacation time into shorter getaway or nightly stays or stay at any Sol Meliá hotel or affiliated resort worldwide.
For Sol Meliá Vacation Club details, call (407) 370-3671 or visit www.smvc.com.
“Take Two Weeks and Call Me in the Morning”
May 25, 2008 | Leave a Comment
American Resort Development Association Concurs with Recent Survey Findings that Americans are Vacation-Deprived
While many people across this great nation get ready to celebrate the first weekend of summer, most people don’t have any plans to vacation this year. Based on the recent Expedia Vacation Deprivation™ survey, Americans not only receive the smallest amount of vacation time among their counterparts abroad, they often fail to use it. The American Resort Development Association (ARDA) challenges the vacation-deprived among us take the first step to recovery and admit there is a problem.
“I’m dismayed but not surprised at these findings,” said Howard Nusbaum, ARDA president and CEO. “People need to realize that taking time to unwind is an important health benefit. Relieving stress, spending family time and re-energizing will pay dividends throughout the rest of the year.”
The second step in vacation deprivation recovery is to ensure that the vacation is the best possible experience it can be. ARDA member resorts provide spacious accommodations in stunning locations with all the comforts of home. A timeshare resort offers hassle-free second home vacations designed with the sole purpose of making the most of precious leisure time together.
Expedia found that despite reporting an average of 14 paid vacation days again this year, the same as 2007 and two more than in 2005, an estimated 47.5MM Americans will not use all of their vacation days. Again this year, employed U.S. adults will leave an average of three vacation days on the table, in essence giving back more than 460 million vacation days in 2008.
Everyone deserves not only a vacation, but a better vacation. For more information contact ARDA at www.arda.org.
Outrigger Serenity Terraces Resort, Phuket To Open In Early 2009
May 25, 2008 | Leave a Comment
Shortly after announcing its first foray into Asia’s premier tourist destination of Phuket, Thailand, Outrigger Enterprises Group today announced that it will open an absolute beachfront condominium resort in Phuket in early 2009.
The new resort, to be called “Outrigger Serenity Terraces Resort, Phuket”, will be the first Outrigger property to open in the area. The 78 unit, luxury hotel condominium resort is being built at Rawai Beach along the south coast of Phuket, just south of the town of Phuket, and nearby to the Evason Phuket Resort and the planned Four Seasons Resort. Serenity Development Group, a global company specializing in residential resort developments in North America, Europe, Asia, the Middle East and Africa, is the developer of the project.
The five-star, beachfront resort is scheduled to open early 2009 and will consist of 78 luxury one and two bedroom apartments, most with spectacular ocean and island views, several exclusive penthouses each with a roof top terrace, sun deck and some with their own roof top lap pool. Also featured are beachfront duplexes and lofts with their own private swimming pools. Formula 1 Grand Prix World Champion Kimi Räikkönen will be a regular at the resort as he has purchased one of the beachfront units.
Each of the spacious apartments will be impeccably finished with the highest quality materials, including premium granite countertops and stainless steel appliances. The long list of resort amenities will include a large beachfront clubhouse with an infinity pool, a fully equipped sports gym, holistic spa services and a signature restaurant and bar that touches the beachfront. In addition, a unique feature of Outrigger Serenity Terraces Resort, Phuket will be a long list of Serenity Toys, including a fully-equipped speed boat, two Hobie Cat catamarans, and four kayaks. For additional information on Serenity Terraces, log on to www.serenity-terraces.com.
“Outrigger Serenity Terraces Resort is an outstanding property with a superb beachfront location that also allows easy access to the stunning islands off the coast of Phuket,” said David Carey, president and CEO of Outrigger Enterprises Group. “We’re excited to be a part of this beautiful luxury development on the much sought after island of Phuket and look forward to working with the Serenity Development Group to provide our guests the highest level of accommodations and services.”
“Keeping in line with the other luxury developments in the area, Serenity Terraces will be an exclusive enclave offering the very best in service and accommodations for the world traveler,” said Elad Kushnir, development director of Serenity Development Group. “Outrigger Enterprises Group has a long history of trusted property management and quality hospitality and we’re delighted to have brought them on board at Serenity Terraces.”
Phuket is one of Asia’s most popular resort destinations with easy international access, strong infrastructure and legendary natural beauty. Set in the Andaman Sea off the southwestern coast of Thailand, Phuket is connected to the mainland by a causeway allowing easy road access. The largest of Thailand’s islands, Phuket offers
idyllic beaches, exclusive resorts, world class shopping, an expansive array of dining, exciting eco-adventure tours, golf at world-standard championship courses and unsurpassed diving in the Andaman Sea.
Outrigger Serenity Terraces Resort, Phuket is located at Rawai Beach, a picturesque area of the island that is just ten minutes from Phuket Town and an easy 45 minute drive from Phuket International Airport.
Once a small fishing village, Rawai today is a sought after destination with upscale developments offering an array of dining, entertainment and recreational services and facilities, including yachting, diving and unparalleled beach life.
“With two projects now underway in Thailand and another two moving forward in Bali, Outrigger is quickly building a presence in Asia,” said Outrigger’s David Carey. “We are looking right now at potential hotel projects in Koh Samui, Pattaya, Krabi and Hua Hin in Thailand, Hainan Island in China, Okinawa and Vietnam and also have a number of other destinations targeted for future consideration. This is an exciting
time for Outrigger as we continue to grow throughout the Asia-Pacific region.”
About Outrigger Enterprises Group
Outrigger Enterprises Group is one of the largest and fastest growing privately-held leisure lodging and hospitality companies in the Asia Pacific and Oceania regions and continues to expand its presence throughout the area.
A family-owned company with more than 60 years of hospitality experience, Outrigger runs a highly-successful, multi-branded line of hotels, condominiums and vacation resort properties, including Outrigger® Hotels & Resorts, OHANA® Hotels & Resorts, Outrigger Condominium Collection®, Embassy Suites®, Best Western® and Wyndham Vacation Ownership®. Currently, Outrigger operates and/or has under development 47 properties with close to 12,000 rooms located in Hawaii, Australia, Guam, Fiji, Palau, Bali and Phuket, Thailand.
Outrigger Enterprises Group also operates and develops hotel properties and hospitality-related retail and real estate opportunities for partners in Hawaii, the Pacific, the mainland USA and Asia. For on-line information, log on at
www.outriggerenterprisesgroup.com and www.outrigger.com.
*Embassy Suites is a registered trade mark of Hilton Hotels Corporation.
Captain Morgan’s Vacation Beach Club In Belize Receives Prestigious Industry Award From Interval International
May 25, 2008 | Leave a Comment
Interval International, a leading provider of vacation services, presented Captain Morgan’s Vacation Beach Club in Belize with the Interval International Premier Resort Award® for 2008 at a ceremony held recently at the property. The annual award recognizes resorts that provide outstanding vacation experiences with state-of-the-art conveniences, and modern features and appointments.
The beachfront resort is located on Ambergris Caye, the largest island off the coast of Belize, and is just three miles north of the town of San Pedro. It features eight private cabanas and 25 spacious one- and two-bedroom villas that are tastefully designed with indigenous woods and stone finishes. All luxuriously furnished units have scenic views of the white-sand beaches and turquoise waters of the Caribbean Sea.
“Captain Morgan’s is the first resort in the Central American region to earn the Interval International Premier Resort Award, the highest level in our resort quality recognition program,” said Dmitri Pekhterev, Interval’s director of resort sales and service for Central and South America. “The property’s extraordinary setting, the caliber of its accommodations, and the comprehensive array of activities it offers make it deserving of this designation.”
“We are very pleased to receive the award, which is a testament to both the quality of our resort and the exceptional service our staff provides,” said Ernest Olmstead, president, Captain Morgan’s Vacation Beach Club. “We look forward to giving our owners and guests the opportunity to enjoy memorable vacations and experience all the wonders of Belize.”
Guests can enjoy numerous amenities, services, and activities at or near the property, including a 1,200-foot beach, two freshwater swimming pools, pool-side grill, restaurant, cocktail lounge, spa, convenience store, snorkeling, fishing, scuba diving, sailing, windsurfing, bird-watching treks, river kayaking trips, canopy tours, and Mayan ruins expeditions.
For the outdoor enthusiast, Belize presents unlimited opportunities to participate in a wide range of activities. It offers an intriguing mix of lush tropical rainforests rich with exotic tropical flora and fauna, majestic mountains, and the longest natural barrier reef in the Western Hemisphere.
Interval International is a leading provider of exchange, travel, and leisure services to resort developers and vacationers worldwide. Based in Miami, Florida, the company has been a pioneer and innovator in serving the vacation ownership market for more than 30 years. Today, Interval has a network of over 2,300 resorts in excess of 75 countries and offers its clients and nearly 2 million member families high-quality products and programs through its 28 offices in 17 countries. Interval is part of IAC, which owns and operates more than 60 diversified brands in sectors being transformed by the Internet, online and offline. Other IAC companies include Ask.com, HSN, LendingTree, Match.com, and Ticketmaster.
London Jet Flying High
May 25, 2008 | Leave a Comment
Diamond Aircraft Lands New European Customer
The London-made D-Jet will be winging its way over Europe.
Diamond Aircraft has received an order for eight of the personal jets from Smart Air, located in Luxembourg, which will operate a D-Jet fleet across the continent when it gets its planes in 2010.
“They have ordered eight but they hope to order many more,” Peter Maurer, Diamond president, said yesterday. “We expected it. If they wait, there will be a backlog and it will take a long time for them to get the aircraft.”
Smart Air is a fractional ownership company, meaning it sells shares in one aircraft to different businesses or individuals and they share the costs and get use of the planes for limited periods of time.
Smart Air will operate the D-Jet in Finland, the UK, France, Germany and Italy, to name a few countries, and Maurer believes the fractional ownership business is poised to grow across Europe, putting Diamond in the position of selling more D-Jets if it does.
“Many companies here in North America are doing fractional ownership, but it is just starting in Europe. This is a significant customer,” he said.
Diamond now has more than 350 orders for the D-Jet which starts rolling off the London assembly line in mid-2009. It is common to get large advance orders because companies want to beat any anticipated backlog for the aircraft, said Maurer.
The D-Jet is getting attention, and sales, because it has a single engine, which means is has lower costs and is easier to use than most larger, costlier personal jets, said Maurer.
It will cost about $1.5 million and can be flown by owner-operators because it has a low ceiling of 7,600 metres as compared to about 12,000 for commercial and military jets.
“That makes it more attainable for average pilots. Things are proceeding well,” said Maurer.
Diamond is now building its forth prototype of the D-Jet.
The company also released its first quarter sales results for 2008. Sales dipped this quarter compared to the first quarter of 2007, but the industry is in decline because of the high cost of fuel and the softening economy in the U.S., added Maurer.
Sales of piston-powered planes dropped across the industry 28 per cent this quarter to 781 sales.
Diamond Aircraft, in both Europe and London, sold 101 airplanes valued at $37.6 million this quarter. Over the same period in 2007 Diamond sold 115 aircraft valued at $44 million.
“Considering the market, we are holding our own,” he said.
For all of 2007, Diamond sold 471 planes valued at $185 million. Diamond in London now employs about 600 people.
In February Diamond received a $19.6-million loan from the federal government to help secure the D-Jet for London.
The London plant now manufactures the DA-42 twin-engine, four-seater aircraft; DA-40, single-engine, four-seater aircraft; and DA-20, two-seater aircraft.
Based in Austria, Diamond is the world’s third-largest producer of light aircraft.
Exclusive Resorts® Named Best Of The Best By Robb Report Magazine
May 25, 2008 | Leave a Comment
Editors’ Choice Reveals Leading Luxury Destination Club as the Preferred Option in Luxury Travel
Exclusive Resorts (www.exclusiveresorts.com), the world’s leading luxury destination club, has been recognized in Robb Report’s 20th annual “Best of the Best” issue as the “Best Full-Size Destination Club.”
This is the fourth time that Exclusive Resorts has been featured in Robb Report’s annual “Best of the Best” issue and it is the third time the club has received the “Best of the Best” distinction in its category. Coming on the heels of the club’s designation as one of four “Icons and Innovators” that are “redefining luxury” by Robb Report in January of this year, this distinction underscores Exclusive Resorts’ continued leadership in the destination club industry and commitment to providing its members with the finest vacation experiences possible.
“It is a very great honor to be recognized by Robb Report in its 2008 ‘Best of the Best’ issue,” said Jeff Potter, chief executive officer of Exclusive Resorts. “Such recognition by the definitive guide and authority on luxury living for affluent consumers is the highest compliment and is an affirmation of both the hard work of Exclusive Resorts employees and the club’s dedication to providing our members with the greatest choice, flexibility and value possible.”
Robb Report identified Exclusive Resorts as the “Best Full-Size Destination Club” for its continued growth, the exceptional choice and flexibility the club offers members, and the innovative programs the club has put in place to enhance the value of membership and continue shaping the future of the industry.
As noted in the article, what truly separates Exclusive Resorts from other destination clubs is the depth and variety of vacation experiences available to members. Robb Report applauds the ongoing growth of the club’s portfolio of residences, citing as examples Exclusive Resorts’ many residences in development in destinations including Kapalua, Maui; San Francisco, CA; Las Vegas, NV; and Sea Island, GA. The continued growth of the club’s offerings, coupled with the variety of experiences available through the club’s Once in a Lifetime program, ensure that Exclusive Resorts members always enjoy maximum choice and flexibility when deciding where to travel.
The article specifically calls attention to Exclusive Resorts’ innovative Once in a Lifetime program, launched in April 2007. This program is both the most unique and the most expansive in the luxury destination club industry, taking members on private journeys that have been specifically designed for Exclusive Resorts and cannot be replicated. Offering everything from a cultural tour of the Kingdom of Bhutan to a family cycling trip through France’s Loire Valley, the club’s Once in a Lifetime program allows members to explore more than 20 countries and six continents on genuinely unique journeys that have been created with them in mind.
In addition to outlining Exclusive Resorts’ innovative Once in a Lifetime program, the article briefly mentions the variety of membership plans that the club now offers, which range from 10 to 60 days. With the launch of this entirely new suite of membership plans in April 2008, Exclusive Resorts became the first club in the industry to un-package destination club membership and work with members to design plans that work perfectly for them.
“This recognition is greatly appreciated by everyone here at Exclusive Resorts,” continued Potter. “It is a reflection on the constant efforts of our employees who strive to always seek out and implement innovative ways to add value to club membership and make our members’ vacations even better. We look forward to continuing our success and guiding the ongoing development of this dynamic industry.”
About Exclusive Resorts
Founded in 2002, Exclusive Resorts is the world’s leading luxury destination club, with more than 3,000 members and a real estate portfolio valued at more than $1 billion, consisting of more than 350 luxury residences in dozens of vacation destinations and another 125 in development. The club has maintained a satisfaction rating of 95 percent among its members after providing more than 50,000 vacations. Recognized by Robb Report as an “Icon and Innovator” that is “redefining luxury” and named “Best of the Best” three times by the same publication, Exclusive Resorts combines the spaciousness and elegance of a private residence with the services and amenities of a five-star resort. Exclusive Resorts is the destination club partner of choice for leading companies including American Express, Neiman Marcus and Marquis Jet. For more information, please visit www.exclusiveresorts.com.
Consumers Defining Fractions Market In South Africa
May 25, 2008 | Leave a Comment
The fractional ownership market in South Africa is being driven by consumer demands, not by the promoters, and the projects that will emerge victorious will be those that cater for what consumers are looking for. So says co-founder of fractionalownership.co.za and member of the South African Association of Fractional Intermediaries (SAAFI) Working Committee, Dirk Wilson.
“It really boils down to what service levels the South African consumer expects from a luxury lifestyle investment such as fractional. When they arrive at their fractional holiday home at Pinnacle Point or Zimbali they expect a hotel-style check-in, cleaning services and check-out facilities. Everything must be of a very high standard in terms of value-added on-site services - for example, being able to phone down to reception and book a round of golf or organize fresh towels for the morning. They can’t just arrive at a game farm, be pointed 2 km down the road, given their keys, and told ‘There’s your bush lodge, see you in a week!’.”
Wilson explains this trend of consumer control further: “There are many resort developers who are looking to do mixed-use developments, and they want fractional to be a component. Undoubtedly the on-site hospitality provider is the most intricate part of making a successful project – those who do not have a specialized hospitality or hotel operator on the resort and don’t have the standard of say a Three Cities or Legacy, have to provide an equivalent standard - because this is what the market expects. Many developments just don’t have the infrastructure to be able to provide this standard.
“Many leading fractional promoters now are only taking on properties where there is a leading hotel operator at that resort, since the market demands it. Feedback from the recent World Fractional Ownership Conference in San Francisco, USA, is also that by far the most successful fractional ownership resorts in the USA are those serviced by the likes of Marriott, Hyatt Hilton and Fairmont, and the South African market is following suit. It is mirroring what is happening in the USA – where they have 8 years’ more experience in this arena than us - and we see it as a good sign that our market is aspiring to live up to that same standard of shareholder hospitality and exchange.”
He says that feedback from consumers that have bought fractional indicates is that their experience of top-notch services is the defining factor that really makes their purchase worthwhile. “Fractional ownership should equal shareholder hospitality and comfort – and this is a reality that developers have to face. We endorse this and aim to educate potential players in our regular workshops of what logistics they need to provide in order to roll out a successful fractional ownership resort.”
fractionalownership.co.za holds workshops every 2 months – one each in Cape Town and Johannesburg, the next scheduled for mid-June. Says Wilson: “We are happy to assist the developers and service providers. We see many at our workshops that would like to do fractional because it adds value to their entire development, but they have to be able to live up to what the consumer expects from their purchase.” He adds that he is now seeing many players from the financial sector attending the workshops – since their clients want to know whether they should buy shares in fractional, a trend once again driven by the consumer.
To book for the workshop or for any enquiries contact Dirk Wilson on 072 591 0582 or 021 556 5064, visit www.fractionalownership.co.za
American Express Announces 2008 Membership Rewards® Program Partner Lineup
May 25, 2008 | Leave a Comment
Program Expands With a Number of New Partners Across Popular Categories, including Wynn® Las Vegas, Air Tahiti Nui, Legal Sea Food and USGA®
American Express today announced the 2008 partner lineup for its industry-leading Membership Rewards® program, which includes the addition of several new partners across popular categories and gives Cardmembers even more ways to redeem points.
Among the latest additions to the program are Wynn Las Vegas, one of the premier resorts in Las Vegas and Air Tahiti Nui, which provides non-stop flights from New York and Los Angeles to Tahiti. Other new additions to the 2008 Membership Rewards program include:
Retail partners, such as west elm®;
Dining & Entertainment partners, such as Legal Sea Food, Forth Wall Restaurants, U.S. Golf Association [USGA®]; and
Travel partners, such as Mandarin Oriental Hotel Group and The Peninsula Hotels.
These latest additions are among the hundreds of redemption options that are available to enrollees and span across the program’s nine major categories: Airlines, Car Rentals and Rail, Charities, Dining & Entertainment, Financial Services, Hotels, Merchandise, Retail, and Sports and Adventure.
“Continuing to grow and enhance the Membership Rewards program is a key goal for American Express,” said Tracey Beberman, vice president, Membership Rewards, American Express. “We know that Cardmembers value the program’s redemption options and by adding more partners we give them more ways to redeem points and get the kinds of things they want.”
The 2008 Membership Rewards Program Partners are:
Airlines: Aeromexico, Aeroplan®, Air France KLM, Air Jamaica, Air Tahiti Nui, AirTran Airways, Alitalia Airlines, All Nippon Airways (ANA), Cathay Pacific Airways, Continental Airlines, Delta Air Lines, EL AL Israel Airlines, Frontier Airlines, Hawaiian Airlines®, JetBlue Airways, Mexicana® Airlines, Qantas, Singapore Airlines, South African Airways, Southwest Airlines®, SWISS and Virgin Atlantic Airways.
Car Rentals and Rail: Amtrak®, Avis®, Enterprise Rent-A-Car®, Hertz® and Rail Europe.
Charity: GivingExpress [run by JustGive.org].
Dining & Entertainment: AMC Entertainment® , American Express ® Gift Cards Especially for Dining, Benihana, BLOCKBUSTER®, By Invitation Only® Events for Platinum Cardmembers, California Pizza Kitchen, Cinemark Theatres®, CityPass®, Create Your Own Reward, Fleming’s Prime Steakhouse & Wine Bar®, Fourth Wall Restaurants, iTunes®, Legal Sea Food, Lettuce Entertain You® Enterprises, Inc., McCormick & Schmick’s Seafood Restaurants, Morton’s® The Steakhouse, Olive Garden®, Patina Restaurant Group, P.F. Chang’s China Bistro®, Red Lobster®, Roy’s Hawaiian Fusion Cuisine, Regal Entertainment Group, Smith & Wollensky Restaurant Group©, Telecharge.com, The Capital Grille®, The Cheesecake Factory®, The Melting Pot, Ticketmaster, Tribeca Film Festival and USTATM.
Retail: Banana Republic, Barnes & Noble Booksellers, Bath & Body Works®, Bloomingdale’s, Brooks Brothers, Cole Haan, Crate and Barrel, DellTM Computer, ESCADA, FTD.COM®, Gap, Lands’ End®, Linens’n Things®, L’Occitane, Nike, Pottery Barn®, Pottery Barn Kids®, Red Door Spas, Restoration Hardware, Saks Fifth Avenue, Smithsonian Institution, SpaFinder®, Talbots, The Home Depot®, Tourneau, 800wine.com, west elm®, Williams-Sonoma® and Williams-Sonoma Home®.
First Collection: Baccarat, Bergdorf Goodman, Chopard, Davidoff Cigars and Accessories, Ermenegildo Zegna, Exclusive Resorts, Girard Perregaux, Gucci, IWC, Lamborghini, Mandarin Oriental Hotel Group, Mikimoto, Monarch Billiards, Montegrappa writing instruments, Neiman Marcus, Oberoi Hotels & Resorts, Pebble Beach Resorts®, Piaget, Premium Wines, Raffles Hotels & Resorts, Relais & Chateaux Grands Chefs Restaurants, Salvatore Ferragamo, The Peninsula Hotels, The Ritz-Carlton, Tiffany & Co. and Virgin Limited Edition.
Financial Services: American Express® Gift Cards, American Express® Gift Cheques, American Express® Travelers Cheques, MileageManager, Link2Gov (www.pay1040.com/mr), Official Payments Corp.® (www.officialpayments.com/mr), Points.com and Upromise®.
Hotels: Best Western Gold Crown Club® International, Destination Hotels and Resorts, Fairmont Hotels & Resorts/Raffles Hotels & Resorts, Hilton Honors® (Hilton®, Conrad®, Coral by Hilton, Doubletree®, Embassy Suites Hotels®, Hampton Inn® , Hampton Inn & Suites, Hilton Garden Inn®, Hilton Grand Vacations Club®, Homewood Suites by Hilton®, and Scandic), Hyatt Hotels & Resorts®, Priority Club® Rewards (InterContinental®, Crowne Plaza®, Hotel Indigo®, Holiday Inn®, Holiday Inn Express®, Staybridge Suites® and Candlewood Suites®), Joie de Vivre Hotels, Loews Hotels, LXR Luxury Resorts & Hotels, Marriott Individual Incentives, Marriott Vacation Club International, Miraval Life in Balance Resort and Spa, Omni Hotels®, Preferred Hotel Group (Preferred Hotels & Resorts and Summit Hotels & Resorts), Radisson Hotels & Resorts®, Sol Meliá Hotels & Resorts, Starwood Preferred Guest® (St. Regis®, The Luxury Collection®, W Hotels®, Le Meridien®, Sheraton® Hotels & Resorts, Four Points® by Sheraton, Westin® Hotel & Resorts), Swissotel Hotels & Resorts and Wynn® Las Vegas.
Sports and Adventure: Abercrombie & Kent, Aspen/Snowmass, Butterfield & Robinson, Classic Car Club, Epiculinary, ESPN Golf Schools Presented by American Express, Golf Academy at The Sea Pines Resort, Intrawest Mountain Resorts, Lake Austin Spa, Mountain Travel Sobek, Mizuno Golf, The Moorings, The Moorings Power, O.A.R.S, Richard Petty Driving Experience™, Skip Barber Racing School, Six Flags, Smithsonian Journeys, Space Adventures Ltd., Tauck World Discovery, The Worlds of Busch Gardens, The Canyons, Troon Golf, Theme Parks Unlimited, USGA®, Vail Resorts, Van Der Meer Tennis and Xperience Days.
Merchandise: Adidas, All-Clad, Anolon, AT&T, Bang & Olufsen, Baume & Mercier, Bodum®, Bose®, Boston Acoustics, Bowflex®, Bulova, Bushnell, Callaway® Golf, Camelback, Canon, Casio, Celestron, Circulon, Cobra Golf, Coleman, Creative®, Cuisinart, DeLonghi, Dooney & Bourke, Dunhill, Dyson, Garmin, Hartmann, Hewlett Packard, Hoover, iRobot, Jabra, JA Henckels, Jansport, JBL, JVC, Kate Spade, Kenneth Cole Reaction, KitchenAid®, KOSS, Krups, Lagos, Lalique, Le Creuset®, Lenox, Life Fitness, Lladro, Logitech®, Magellan, Majorica, Maui Jim®, Microsoft, Mizuno, Monster Cable, Montblanc, Motorola, Movado, Nambe, Nautilus, Nike, Nikon, The North Face, Oakley, Ogio, Omas, Oreck®, Panasonic, Pentax®, Philips, Pioneer, Plantronics, Polar, Ray-Ban, Riedel, Royal, Samsonite, Samsung, SanDisk, SenrySafe, Sharp, Skagen, Skil, Sky Golf, SIRIUS Satellite, Sony®, Staub, Steiner Sports, Swarovski, TAG Heuer, Takamine, TaylorMade®, Timberland, Titleist® Golf, TIVO, Toro, Toshiba, Travelpro, Trek®, Tumi®, Villeroy & Boch, Waterford, Weber, Wilson®, Yamaha, and many more.
The Membership Rewards program from American Express has more than 140 redemption partners. The program allows Cardmembers to earn one point for virtually every dollar charged on eligible, enrolled American Express® Cards.
Membership Rewards points are redeemable in a wide selection of reward categories. Enrollees may also customize their own redemption experiences through the program’s Create Your Reward and Experiences options and use points for just about anything they can imagine. Points have no expiration date, and there is no limit on the number of points a Cardmember can earn.
For more information about the Membership Rewards program, Cardmembers can visit: www.membershiprewards.com or call 1-800-THE-CARD.
American Express company (www.americanexpress.com) is a leading global payments, network and travel company founded in 1850.
YachtPlus Set To Launch Its First Superyacht
May 25, 2008 | Leave a Comment
YachtPlus, one of the worlds’ most exclusive fractional ownership companies, has announced that it will be launching its first superyacht this September at the Monaco Yacht Show.
Formed in 2005 by a group of financial investors, YachtPlus is rapidly becoming the market leader in fractional ownership and this year will introduce one of the most spectacular and exceptionally beautiful contemporary yachts to the market. Named YachtPlus 1 this floating masterpiece was designed by internationally renowned architect Norman Foster and will be the first of 10 identical superyachts to be built over the next three years at the Rodriquez Cantieri Navali yard at La Spezia, Italy.
With a strong emphasis on quality and quantity of space this stunning four deck boat has an overall length of 41 meters. Once commissioned, the yachts will have five suites for up to 12 guests at any one time who will be looked after by a permanent crew of seven highly trained and experienced staff. The internal planning of the yachts will offer total flexibility to respond to the most discerning needs of owners and their guests and families with keen attention being paid to design and detail ranging from space and ambience down to crockery, cutlery, fabrics and crew uniforms.
Commenting on his design Foster said, “I am personally hugely excited by the challenges posed by the YachtPlus fleet starting with the design of the 40 “Signature Series.” For me this is an invitation to think afresh the whole concept of a 41 meter luxury superyacht from a broad brush strategy down to the smallest detail both inside and out.”
On his appointment as YachtPlus CEO Sergio Dell’Acqua said, “Fractional ownership is fast becoming acknowledged as the way forward for those wishing to have a personal involvement in top- end luxury products. At YachtPlus we offer the discerning investor the opportunity to part- own a truly spectacular yacht without all the hassles and financial burdens found in sole ownership. It is one of the most exciting concepts to hit the luxury market in recent years and we look forward to an exciting and developing future.”
The concept of fractional ownership is one of the fastest growing options in the market and is rapidly becoming recognized as the most cost effective and enjoyable way of gaining part ownership of ultra- luxury products. One of the main attractions of this type of ownership is that it removes all the problems, worries and concerns associated with sole ownership thereby giving total pleasure, relaxation and privacy to those participating.
In order to join the YachtPlus ownership programme an initial payment of EUR1,850,000 will give a 1/8th shared ownership of the yacht and guarantees 30 full days per year on board – 10 days peak season in the Mediterranean and 10 days peak season in the Caribbean and two five day “cultural cruises.” 1/8th ownership will also give access to the YachtPlus fleet of 10 identical yachts worldwide so the owner can choose when and where they go. The contract period is for eight years after which time the yachts will be sold and the owners will receive full pro-rated proceeds from the sale. All arrangements from bookings to transport, private jet and helicopter transfers and onboard requests will be handled by the YachtPlus Concierge who will take care of every detail and all requirements thereby further enhancing the ultimate experience in hospitality, service and luxury available to the owners.
YachtPlus’s second boat will be launched in early 2009 with two more to follow later in the year. A further six yachts are scheduled to be launched during 2010/2011 to complete the YachtPlus fleet.
Source: www.superyachttimes.com
Pine Lake Marina (South Africa) Fetches R118m
May 25, 2008 | Leave a Comment
PINE Lake Marina Holiday Resort on the Swartvlei on The Garden Route was sold recently for R118m by Van Rensburgs Auctions.
It was bought by a consortium of investors, and sold as a going concern, inclusive of all its moveable assets.
The resort — developed in 1986 and sold on a timeshare basis — has been awarded gold crown status by RCI International, one of the largest brokers of timeshare trades.
Pine Lake Marina covers an area of 9,3ha, with direct 200m Swartvlei frontage.
The resort has 185 accommodation units as well as infrastructure such as an administration block, staff housing, a clubhouse, four swimming pools, tennis courts, games room, a squash court, putt putt course, a restaurant with a bar, a laundry, a salon and a shop, and water sports facilities. Auctioneer Louis van Rensburg, of Van Rensburgs Auctions in George, conducted bidding, which began at R60m.
“Everybody seems to be very happy with the outcome. It again emphasises the demand for excellent properties on the Garden Route,” Van Rensburg said afterwards.
Source: Business Day
First Equity Group To Build World’s First Indoor Winter Sports Resort
May 25, 2008 | Leave a Comment
SnOasis - €600m mixed-use development outside Ipswich, UK
First Equity Group (the “Group”), an Irish private equity and real estate group today confirmed that, Onslow Suffolk Limited (“OSL”), a consortium in which the Group and its investors are a 70% shareholder, has received significant support from the UK Government for a mixed-use residential, leisure and commercial development outside Ipswich, UK with a gross development value of €600 million. The development, known as SnOasis, will enjoy the status of the world’s first indoor winter sports resort. SnOasis will be developed on a c. 360 acre site and comprise an iconic sports complex, 350 ski lodges, a four-star hotel and conference centre, an athlete’s village and the facilities to house many other sporting activities.
Following a public enquiry, a Government appointed Inspector has recommended the scheme be approved in its entirety subject to certain conditions. The Secretary of State at the Department of Communities and Local Government today announced that she agrees with these conclusions and has approved the residential and other elements of the scheme and “is minded” to approve the leisure elements of the scheme subject to OSL complying with relevant planning and legal requirements which centre mainly on sustainability and wildlife issues.
The development will deliver enormous benefits for the local community generating 3,500 jobs during the construction phase and 1,800 permanent jobs on completion. Construction is expected to commence during the second half of 2008 and will complete in 2011 in advance of the London Olympics. This development represents the single largest project undertaken by First Equity Group on behalf of its investors. Bank funding for the site acquisition and planning process was provided by AIB.
In a separate development, Sir Jeremy Hanley, formerly Northern Ireland Minister and former Chairman of the Conservative Party, has been appointed as Chairman of OSL.
SnOasis | Development Highlights
SnOasis will be the world’s first indoor winter sports resort offering a totally new concept in family activity holidays and also a dedicated facility for winter sports training – 14 different winter sports disciplines will be catered for in one venue for the first time in the UK. The development is located in Great Blakenham, 4 miles from Ipswich, and just 70 miles from London. It will be linked by a main line railway station to London’s Liverpool Street with a commuting time of just over an hour. The key elements of the SnOasis development include:
- Europe’s largest indoor ski slope: 415m long, 70m wide with a 100m vertical drop
- Nursery slope: 100m long, 30m wide with 6-degree pitch
- External Ice Rink: 60m by 30m with 1,500 spectator seats
- 400m Speed Skating track & 100m dry Bobsleigh push start track
- 1.5km Cross-country ski run
- National Winter Sports Academy with 200-bed hostel
- 350 room four star hotel and conference centre, capacity for 1,000 delegates
- 350 self-catering holiday village style 4, 6, 8, bed ski lodges
- 100 one and two bed apartments
- 17 bars and restaurants
- New main line railway station with link to London’s Liverpool Street
- Planting of 130,000 trees and development of a 40 acre ecological mitigation project
In addition to the winter sports resort, the development allows for the construction of over 400 new homes on a c. 40 acre site adjacent to the SnOasis site.
Alan Barry, Managing Director, First Equity Group, commented “We are delighted to announce this positive news in the planning process for the SnOasis development. This is an important milestone for our investment in this project and represents a significant uplift in the valuation of the project for our investor group. We can now begin the process of implementing plans to construct an iconic world class facility at this unique location.”
He added “First Equity Group has a proven track record of delivering attractive returns to its investor group for more than a decade. The SnOasis development represents our largest ever investment project and further consolidates the Group’s growing reputation and position as a leader in the private equity and real estate market.”
About First Equity Group
First Equity Group is an Irish private equity and real estate group. First Equity is focused on providing private equity and mezzanine finance primarily to the property sector. First Equity Group is based in Dublin with offices in London and Los Angeles.
Please visit www.firstequity.ie
About SnOasis
SnOasis will be the world’s first indoor winter sports resort offering a totally new concept in family activity holidays. At the heart of the complex lies Europe’s largest indoor ski slope, measuring 415 metres long by 70 metres wide, with a 100 metre vertical drop, giving an exhilarating run to both dedicated and fun seeking skiers. For further information, please visit www.snoasis.co.uk