In order to give maximum benefits to the investors, the privileges in owning a unit are:
* Every year each condotel unit owner gets a *45-day Free Stay at the resort in his unit or the equivalent room type. (Transferrable, Valid for one year and is non-cumulative)
* Plus 7-day FREE stay at Club Ultima or any Crown Regency operated hotels nationwide (annually).
* Subject to 3 months prior notice before expiry, the unused 45-day free stay is convertible to same room night equivalent at any Crown Regency hotel with no expiry period.
* The *45-day free stay could also be exchanged with 2,000 Interval International affiliated hotels & resorts worldwide. Check the website www.intervalworld.com
* This unique condotel investment opportunity entitles the unit owner the added advantage of using multiple properties in any Crown Regency Hotel & 2,000 resorts worldwide - An unmatched privilege never offered by any other company in the Philippines today.
* not valid under guaranteed fix payback program
Crown Regency Resort & Convention Center Payback
Payback A
Estimated 10-year Full Return of Investment
(based on a T3 unit with a projected room rate of Php3,680.00 per night)
Your PhP 6.0 M investment gives the following returns:
*45- day FREE Stay (with an option to sell or use)
* Income from a 320-Day enrolment in Condotel operations.
|
|
320 days @ 90% occupancy = |
320 days @ 80% occupancy = |
320 days @ 70% occupancy = |
|
|
288 days |
256 days |
224 days |
|
|
x Php 3,680/day |
x Php 3,680/day |
x Php 3,680/day |
|
|
= Php 1,059,840 |
= Php 942,080 |
= Php 824,320 |
|
|
Deduct approx. 50% as management fee, taxes, incentive bonus |
Deduct approx. 50% as management fee, taxes, incentive bonus |
Deduct approx. 50% as management fee, taxes, incentive bonus |
|
Projected Net Income Annually |
(Php 529,920) |
(Php 471,040) |
(Php 412,160) |
* A very conservative assumption of 70% occupancy per year and Php 3,680/day still gives you a projected income of 412,160.00 per year
* Compared to a bank desposit with a maximum of 5% interest, your Php 6.0 M earns you only Php 300,000 per year
Bank Desposit
with an estimated annual interest of 5% gives you
Php 300,000.00 |
VS. |
Condotel Enrollment
with an assumption of 70% occupancy at Php 3,680/day
Php 412,160.00 |
* Condotel Enrollees earn Php 112,160.00 MORE than the standard bank deposit once the Condotel is operational and the Unit is fully paid.
* In addition to the projected net income, investors have their *45-day Free Stay guaranteed benefit which they have the option to sell.
* An Investor can easily sell their *45-day FREE stay to travel agencies especially during peak season.
PROJECTED NET INCOME : Php 412,160.00 + Guaranteed Benefit : Php 165,600.00
|
|
Unit T1
Ground: (Garden View)
59 sqm with Loft |
Unit T2
Ground: Pool View)
57.5 sqm with Loft |
Unit T3
2nd & 3rd Floor
(Garden View)
33.5 to 34.5 sqm |
Unit T4
2nd & 3rd Floor
(Pool View)
33.5 to 34.5 sqm |
Unit T4A
2nd & 3rd Floor
(Pool View)
41.5 sqm |
Special Unit
Deck
(Pool View)
50 - 90 sqm |
|
Projected Room Rate/Night |
Php 8,096.00 |
Php 9,200.00 |
Php 3,680.00 |
Php 4,416.00 |
Php 5,520.00 |
Php 11,040.00 |
|
PRO-RATA Share |
2.2 |
2.5 |
1.0 |
1.2 |
1.5 |
3.0 |
In addition to the projected net income, Investors possess a *45-day FREE stay guaranteed benefit which
they have the option to sell.
* 45-DAY ANNUAL FREE STAY is worth Php165,600.00 (based on the assumption of 4-star hotel rate of Php3,680.00 per day in Boracay)
* An Investor can easily sell their *45-day FREE stay to travel agencies especially during peak season.
PROJECTED NET INCOME : Php 412,160.00 + Guaranteed Benefit : Php 165,600.00
* The bigger the investment, the higher the returns. Investors could look forward to an estimated 10-year full return of their investment once the Condotel is operational and Unit is fully paid for. In the meantime, he can enjoy the good life in Boracay or the privileges & benefits of being a member of Club Ultima and in all of its off-site facilities through the Crown Regency Hotel chain.
* Upon operation of the condotel, investors will receive percentage of income based on the payments made to the total contract value.
* If investor has paid less than 50% of the total contract value, investor receives 25% of the income due.
* If investor has paid 50.01% to 70% of the total contract value, investor receives 50% of the income due.
* If investor has paid 70.01% to 90% of the total contract value, investor receives 75% of the income due.
* If investor has paid 90.01% to 100% of the total contract value, investor receives 100% of the income due.
Payback B (Guaranteed Fix Payback Scheme)
* If an investor wish to avail of the guaranteed fix payback scheme, he must surrender his 45 Free days to Fuente Triangle Realty Development Corporation. In return, he will receive an annual income of 8% of the *acquisition price for 15 years from the start of the condotel operation provided that he has fully paid the total contract value of the investment.
Example: Php6.0 M investment (Acquisition Price)
8% of investment is Php 480,000.00 per year
x 15 years = Php 7,200,000.00 M (Total income for 15 years)
# Buy-back Program 5 years after condotel operations, investors can have the following options:
* Resell the unit at the open market.
* Resell the unit to Fuente Triangle Realty Development Corp. at *acquisition price.
* Resell the unit to the open market through Fuente Traingle Realty Development Corp. for a minimal fee.
Crown Regency Resort & Convention Center Paperwork
* Investors sign a Purchase Agreement to acquire the specific unit of choice from Fuente Triangle Realty Development Corporation.
* Upon full payment of Unit, Investors will receive a fully-paid Preferred Stock Share certificate representing the acquired unit as specified in the Articles of Incorporation of Boracay Multiple Properties Development, Inc.
Purchase Agreement:
The Condotel Unit purchase agreement for Crown Regency Resort & Convention Center is irrevocable upon signing. A reservation deposit of One Hundred Thousand Pesos Php100,000.00), payable to Fuente Triangle Realty Development Corporation, is required upon signing. The balance is subject to the agreed terms of payment to be completed within thirty (30) days. Cash payments are also given thirty (30) days to complete.
Failure to meet final payment at the time agreed upon in the Purchase Agreement results to the forfeiture of the deposit made unless acceptable arrangements are agreed upon.
Frequently Asked Questions:
Q1.How does the Condotel operation differ from Timeshares?
A1. In timeshare, you only exercise a right to use the property and facilities for a certain period of time. When you own a unit in Crown Regency Resort & Convention Center, you own a preferred stock share in the company wherein your share/s is represented by a specific condotel unit. At the same, since you own a club ultima membership you have a vacation exchange privilege with Interval International.
Q2. Is the Preferred Stock Certificate redeemable from the holder of such share to be replaced by a title to the unit? If so, when?
A2. The preferred Stock Certificate represents ownership or title to the condominium unit shall be redeemed once, the title to the property by the issuing company is obtained with individual title to each condominium unit issued and distributed to each shareholder. This is indicated in the Articles of Incorporation of the company.
Q3. How does the condotel operate?
A3. Condotel will be managed & operated by the Crown Regency Resort & Leisure Park Management Services, Inc. as a resort hotel. Subject to advance booking, unit owners have priority use of their condotel units or an equivalent type for 45 days every year for free . If the usage will exceed 45 days, they will have to pay the member's rate (30% discount from regular rate).
Q4. Are there additional cost incurrences to be shouldered by the unit owner upon enrollment in the condotel operations?
A4. Yes, an initial one time joining fee of Php 30,000 / unit will be required to cover initial operating expenses.
Q5. What fees do we pay Crown Regency Resort & Leisure Park Management Services, Inc. as hotel operator?
A5. 20% of net sales in exchange for the following:
* All salaries of sales & marketing and reservation staff except for promotional and advertising collaterals
* All expenses related in maintaining a sales & marketing office.
* All salaries of general managers & resident managers.
* The hotel operator also guarantees to exchange the unit owner's unused 45-day free stay in his condotel with Crown Regency Hotels room nights nationwide with no expiry period.
* As a premium responsibility to the hotel operator, if total expenses do not exceed 30% of net sales which shall result in a 50% gross operating profit before income tax, an additional 3% of net income will be given as a bonus to the hotel operator.
Q6. Is the unit owner required to source insurance by themselves in order to protect their investment?
A6.Insurances are sourced by the Hotel Operator and are shouldered under operating cost covered in the estimated 50% Hotel Operator’s share.
Q7. Can a unit owner live in their property full time?
A7. This project is for Investors only. You are required to enroll in the Condotel operations for a minimum of ten (10) years with further option available to the operator which he is likely to invoke to extend the term on expiry subject to mutual agreement as per majority vote of the Unit Owners Association.
Q8. When is the declaration of dividends?
A8. Quarterly or semi-annualy, as may be mutually agreed upon with the unit owners.
Q9. What are the considerations in determining revenues & dividends for unit owners?
A9. In order to maximize returns and ensure cost efficiency for unit owners, only room revenues and room divisions related expenses are considered in the determination of income such as housekeeping, laundry, front office, security, repairs and maintenance, utility , taxes, and insurance attributable only to the units. F & B income and its related expenses such as F & B personnel, kitchen equipment, supplies, utilities, taxes, and insurance are treated separately from and independent of the room division expenses of each condotel units.
This set-up assures the unit owners a cost efficient operation as room related expenses are easily controlled and managed.
Q10. How will dividends be paid to the unit owner?
A10. Dividends are payable in checks to be mailed to unit owners or paid directly to the bank accounts of unit owners. Dividends will be in peso currency. For foreign currencies, prior arrangement can be made with the hotel operator on a case to case basis.
Q11. Are there any other condominium association dues?
A11. None. Since all expenses are charged to hotel operator and part of operating cost covered in the estimated 50% hotel operator’s share.
Q12. What is Unit Owners' Association?
Q12. Unit owners' association is organized to provide financial, operational and property management of the condotel units. The association needs to elect board officers to make sure that the unit owner's interests are protectedand their units well managed.
Q13. Will there be a unit owners' association?
A13.Yes. All unit owners are automatically members of the unit owners' association and shall elect among themselves a board of trustees to formulate policies and implement the rules and regulations of the association.
The board will be composed of nine (9) members to be elected from among the shareholders whose qualifications and voting rights are defined in the by laws of the association to be adapted by the members.
Q14. Will the unit owner still earn if his unit was not rented?
A14. Yes. Unit owners will still receive quarterly income based on the type of unit regardless of whether the unit was rented or not. This is because condotel operator will pool together its entire total income from rental operations and distribute this to unit owners as dividends according to the pro-rata percentage sharing on unit types. Income will come from room revenue less room division expenses.
Q15. Who will shoulder the repairs and maintenance of unit?
A15. Minor and Major repairs are shouldered by the hotel operator and chargeable to and part of operating cost covered in the estimated 50% hotel operator’s share.
Q16. Can a unit owner use his 45-free stay in another Crown Regency Resort in Boracay?
A16. Yes, he can. Only on a one to one room night basis.
Q17. Is there any benefit if the unit owner does not use his free stays on peak season?
A17. Yes, he individually not pooled, receives bonus on those days equivalent to room rate difference on regular days.
Q18. Can a unit owner upgrade his free stay to a different unit category?
A18. Yes, unit owner's free stay is upgradeable but has to pay the price difference in room rates.
Q19. When do the unit owner gets his *45-day free stay benefit?
A19. The 45-day free stay commences at the start of every fiscal year. This will be distributed to the unit owner in terms of certificates where they are entitled to priority in booking even on peak seasons provided availment of the 45-day free stay is exercised and availed of by negotiating in advance in the use of the unit.
Q20. Can a unit owner use his 45-free stay for more than one unit at the same duration?
A20. Yes, he can. Provided that it would be the same unit type. For example, if an owner will stay in the resort for a week and he’ll rent another unit for his friend. He will consume a total of 14 days for that week, chargeable to his 45-day free stay.
Q21. What if the Unit Owner was not able to use the 45-day benefit?
A21. Subject to 3 months prior notice before expiry, the unused 45-day free stay is convertible to same room night equivalent at any Crown Regency hotel with no expiry period. The 45-day free stay could also be exchanged with 2,000 Interval International affiliated hotels & resorts worldwide. Advance booking and registration required subject to Interval International rules, regulations and fees. (www.intervalworld.com)
Q22. Can a unit owner who has made an initial booking to use its 45-day free night stay but who eventually cancels it and make a new booking dates to use his room unit be allowed?
A22. Yes, provided the notice of cancellation is made two (2) weeks in advance but the new booking dates subject to availability of room units. This is because all the pooled room units are blocked and rented on a day to day basis by guests of the hotel condominium facility, hence, advance booking is necessary.
For more info please call:
Juvilyn Quijano
+639215829708 /(6332)5155929
[email protected]
http://a_ceburealestates.bahay.ph
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