Q) What will the nightly rates be when conversion is done for a studio and 1 bedroom?
A) Studios will be $85 and 1 Bedrooms will be $135.
Q) Are there any other fees for the property management on top of the 40% they take from bookings?
A) There is a nominal $25 annual fee that goes to State Of Florida Division of Consumer Service.
Q) What were the occupancy rates for 2005?
A) 61.2%
Q) What was the average room rate for 2005?
A) $40.14
Q) Will there be any marketing to promote the hotel?
A) Yes, there is a full marketing team onsite that will promote the hotel year round.
Q) When is remodeling due to start and be completed?
A) The remodeling will start approximately May 1st and will be completed between 12 to 18 months.
Q) Are you working with any lenders as regards to financing or do clients use their own lenders?
A) Yes,
we have lenders ready to offer financing, subject to credit approval.
Q) When will closings begin?
A) Closings will begin by March 21, 2006.
Q) What Star rating will the hotel be?
A) The hotel currently has a 3 Star rating and we expect the rating to increase after the completion of the reconstruction.
Q) Are there any association fees?
A) Our
sales representative can provide you with complete details on association fees.
Just ask!
Q) What are the property taxes?
A) The property taxes are approximately $1200 per year for a Studio and $1800 per year for a 1 Bedroom..
Q) When will income be generated for the owner?
A) The owner will receive 60% of the income generated immediately.
Q) What is the depreciation in the area?
A) The property value in the area is increasing.
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