Harlequin's Dave Ames Q and A - 6th December 2011


Chairman Chat "Harlequin's Dave Ames answers your questions ..."

Dave Ames, the Chairman of Harlequin Hotels & Resorts Ltd, has agreed to work exclusively with OPP this week to answer questions posed by you - the overseas property industry. His development company is one of the most high-profile in the market and OPP readers were keen to find out what is happening. Here is a representative sample of the most frequently raised issues, and his responses.

Background: Harlequin’s first resort, Buccament Bay Resort, officially opened in April 2011 and the feedback and reaction of the guests has been great, says Ames. Bookings are already very healthy for 2012 and most of the major tour operators in the UK, including Kuoni, Virgin Holidays, and BA Holidays are all offering the Buccament Bay Resort in their brochures for the coming year. Harlequin says that it expects 2012 to be very successful. Every month, Harlequin holds Open Days at its offices in Basildon where investors and agents are invited to come along to hear updates on the developments. These sessions are followed by a Question and Answer session with Dave Ames, where he answers questions like the ones you have posed to him below.


Q. Does the St Lucia site have planning permission to construct what is being sold?
A. The simple answer to this is yes! The Government of St Lucia has been very supportive and has given us approval in principle to build the resort. We are in the process of completing the various studies and detailed plans that are required in order to obtain the final approval to begin construction next year, but, in the meantime, work is already underway to construct the access road and the site office, for which we have full planning permission. Just last month I met with the local community and the Minister of Agriculture, the Honourable Ezechiel Joseph - who is also the MP for the area where The Marquis Estate is being developed – and provided updates on the resort plans and how work’s progressing. We have awarded six local contractors with the initial construction work at the Estate, which will create some 100 jobs locally. The news was very well received by the local constituents, who can see that The Marquis Estate is already having a positive social impact on their lives.

Q. I have purchased a unit from you in Barbados and visited there in August after being told work had started. When I got there nothing had been done - it’s still rough land. I would like to know what the situation is as the first phase is due to be handed over next year?
A. I don’t know where you were taken, but work had indeed started in August to clear and mark out the land. At that time, work had also started on preparing the land for the infrastructure. I admit that the work at The Merricks Resort has started a lot later than I’d hoped, but this is due to delays in receiving the planning permission. The Merricks Show Homes will be completed in 2012; then we plan to move forward into the first phase. In order for us to meet that deadline, the Harlequin Developments team and our local consultants are currently satisfying a number of criteria raised by the Town & Country Planning Department. Harlequin aims to be as open and accessible as possible, and we often arrange guided tours of the site for agents and investors because we know it’s important for people to have that kind of reassurance. We’ve also recently created a Communications Team, which is tasked with providing regular updates to members of the extended Harlequin family, including agents and investors. You can find out more by going to: www.harlequinhotelsandresorts.com/news and http://blog.harlequinhotelsandresorts.com

Q. In the current global financial situation, I understand you are having severe difficulties in raising mortgage funds to complete on Buccament Bay contracts. What are your plans to ensure the availability of the necessary funds?
A. As we all know, the world economy hasn’t been the same since the start of the financial crisis in 2008. Whilst many of the world’s economies shrunk, caution grew and it became much harder to raise funds from the banks. As a result, it became clear to us that we couldn’t raise funding until we had opened Buccament Bay Resort and proven it to be the success we knew it would be. Since the official opening on 1st April of this year, we’ve done just that and now many financial institutions are ready to invest with us. In early 2012 we expect to be able to announce some significant steps forward in terms of funding.

Q. The St Lucian Government’s economic release is available on the internet and it lists significant developments in the planning stages – as The Marquis Estate has not been mentioned in the last few years is it safe to assume it is at least a few years before construction can start?
A. No, not at all. In anticipation of the General Election in St Lucia, myself and representatives of Harlequin Hotels & Resorts spoke with both the Government and the opposition party to ensure the development wouldn’t be affected, whatever the outcome. We will be commencing phase one of the Marquis Estate next year and this has been factored into future economic planning for St Lucia by both political parties. As we move forward, we will create many jobs and opportunities for the people of St Lucia; we’re also looking forward to developing corporate social responsibility programmes to engage the local people, particularly children. Our relationship with the people of St Lucia is already very strong and we look forward to fortifying it with our initiatives. St Lucia will also be the home of Harlequin Air – our fleet of planes for the exclusive use of guests at our Caribbean hotels and resorts, providing island-hopping transport for transfers to and from transatlantic or US flights, excursions, and visits to our other hotels and resorts when they become available. The Government of St Lucia and other official bodies have been very supportive in providing concessions and a home for the newest part of our business.

Q. How will property purchased from Harlequin using pension funds provide realistic returns for the client in the future given the current state of the property and rental markets?
A. Firstly, it’s important to state that Harlequin does not give financial advice in relation to pensions or otherwise. The current state of property in rental markets is in flux around the world to differing degrees. It must be remembered that we work on islands that are 20 miles long and 10 miles wide with only so much beach land available. This in itself creates a premium in a market that is a highly established and well known region of the world for tourists of all kinds (e.g. luxury holidays, family holidays, sun-seekers, divers, nature/activity holidays, etc). However, this is a different model to that of a straightforward property rental. Prices have fluctuated in the rest of the world, whereas land values and property prices in the Caribbean have been far more consistent. Purchasers of a Harlequin property are not simply buying a property; they are buying into the luxury leisure industry. All Harlequin properties are of the highest standard, situated in some of the most desirable locations in the Caribbean, with the support of an experienced team of hoteliers, a strong marketing team and a travel business to ensure high levels of occupancy and returns.

Q. Banks are having a serious impact on the world’s property developers; is Harlequin affected by the same conditions and do you think the confidence will return to this sector soon?
A. We do not currently carry any bank debts; however, we aren’t immune to the current economic climate, of course, so it still creates challenges for us. For example, it’s taken far longer than we had anticipated to assist our purchasers in finding suitable mortgage funding. The fact is that the banks have had a big negative impact on many developers around the world: some have stopped working indefinitely and many more have gone bust. Harlequin has weathered the last few years well, and in fact has continued to grow steadily in strength; as a result, whilst many have stopped, we’ve continued to work on our developments. The reason for our success is the structure of our business model. I have recently read that the UK is heading for a double-dip recession, but, compared to the last 12 months, I do believe that finance is becoming available again and we’ve survived the worst of the storm.

Q. How will the serious financial concerns about some countries’ economies affect the UK-based clients’ attitude to buying Harlequin properties?
A. As I stated before, we are fortunate enough to work in a place where land has historically held a premium and, despite five recessions during my lifetime, Caribbean land values have been largely unaffected. Our product is ultimately a luxury resort or hotel experience, and it’s this end of the travel industry that shows the most stamina in difficult economic times. The main driving factors for the economy in the Caribbean are tourism and agriculture. Governments there, like Governments around the world, are working diligently to protect their economies. When you compare the Caribbean economies to the US economy or some of the EU economies, there are relatively no serious financial concerns. The reason I invested in the Caribbean in the first place was because it is, in my opinion, one of the safest places for this kind of investment in the world. I believe the product we offer and where we offer it is the driving factor for our success.

Q. Harlequin has always depended heavily for sales from UK-based selling agents, selling to UK clients latterly through using pension funds to part-fund the purchase. Will this be the main selling strategy during the next 6-12 months?
A. I’ve spoken about the economic climate quite a bit already, but it’s unavoidable! The crash has left many people with negative views on banks and shares, and a desire for alternative investment for pension portfolios. As a result, we’ve experienced a dramatic increase in the number of sophisticated investors in recent times, and I am sure that SIPP business will continue to be a key part of our sales strategy moving forwards, but we must always plan for the future and take nothing for granted.

Lastly, here are a few words from Dave Ames about the delivery dates of resorts: "I purchased much of the land for our developments long before the credit crunch. Initially it was our plan to develop smaller properties, but as the brand grew, so did our plans for our developments. We are now associated with many wonderful, high-profile brands and this has helped to add tremendous value to both our resorts and the holiday experience there. It was imperative that we be reactive to the travel industry and mindful of opportunities to create unique and memorable holidays for our guests. Harlequin Hotels & Resorts’ aim and brand vision is to ‘redefine luxury in the Caribbean’, to build hotels and resorts capable and able to command the attention of the travel industry and compete on the world stage – it is a small world these days, after all. This is not something that can be achieved overnight, but we are now working with all the major UK tour operators and travel agents and growing our reputation and brand in the United States. With the difficult financial climate of the past few years, we’ve had to tighten our belts like everyone else and be proactive in adapting to market changes. This has contributed to delays on our developments, just as it has other developers around the world. Despite the challenges that the industry and indeed the world has faced, we have steadily moved forward and, as you will appreciate, there is much work to be done before the first stone can be laid. 2012 will be a year of significant development and growth for Harlequin as we progress with the developments that have been delayed over recent years. I understand the concerns of some of our investors, but with all the facilities we will open, we’ve created capital growth and put ourselves in the position to command better holiday rates. So, although we could be criticised for the late delivery of our developments, I feel that the delays will be far outweighed by the benefits and well worth the wait for the long term investor. In the end, I will deliver the investment to them from a position of mutually beneficial strength."

Article from OPP (Overseas Property Professional)

For futher information on Harlequin Property please call Assets International on uk freephone 0800 335 7626 or +44 1780 720287

LINK: Harlequin Property TAG: Dave Ames, Harlequin Property

Jasmine and the team from CH4 A place in the sun visit Buccament Bay 23rd November, 2011


Buccament Bay Beach Resort will soon be a TV star after Channel 4's A Place in the Sun paid a visit yesterday, Tuesday 22nd November 2011, to film at our luxury resort.

For those who don’t know, A Place in the Sun is a lifestyle programme that helps people to find their dream holiday home with the help of international property experts.

We can’t say just yet when it will be televised, but as soon as we know, we’ll pass it on.

In the meantime, here are a couple more photos below. To find out more about the resort and book your stay to experience the real thing for yourself, call us on freephone 0800 335 7626.

For futher information on this please call uk freephone 0800 335 7626 or +44 1780 720287

LINK: Buccament Bay Resort TAG: Place in the sun, Harlequin Hotels, Buccament Bay, Jasmine Harman, Harlequin APITS, Updates

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St Lucia H Hotel (Harlequin) UPDATE - 22nd November, 2011

We have just had fantastic news just in from St. Lucia where the senior directors and management have been consulting with our in house design team, architects and planning officials.
We now intend to add extra units to this fantastic boutique hotel; these will include Junior Suites priced at £400,000, £425,000 & £450,000.

We are also designing 3 Penthouse Properties with the aim to emulate the superb design concepts we have seen on H Hotel Barbados. The Penthouse prices will be £750,000, £800,000 & £850,000. All sizes to follow, however they will be huge!

We believe this hotel could be even better than H Barbados, facilities will include;The Show Village, which will form part of the final resort, already has a number of its components and features completed. These include:


Pat Cash Tennis Academy
Trader Vic's
Mai Tai Cocktail Lounge
Pat Cash Sports Bar
Spa by Espa

Demand for these properties by the tour operators is high so occupancy and rental yields will be great.
Please be aware that these units will sell very quickly so early reservation is recommended.

For futher information on this please call uk freephone 0800 335 7626 or +44 1780 720287

LINK: Harlequin Hotels and Resorts TAG: St Lucia, Harlequin Hotel, H Boutique Hotel, H Hotel St Lucia, Harlequin, Updates

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Merricks Resort UPDATE - 14th October, 2011

We hope this update on The Merricks Resort is helpful to you. In future, we will be sending out regular e-Newsletters via email to keep you informed of the progress of each of the developments, plus anything new that is happening within the Harlequin group.

Harlequin Developments has set up offices in Barbados to oversee the projects at The Merricks Resort and the H Barbados hotel.
The team is led by David Campion, who, along with in-house architects, engineers and designers, undertakes all the work necessary to build our projects. This gives us more control in ensuring the smooth process from conception through to completion.

Work on The Merricks Resort Show Village has begun under the watchful eye of Kraus-Manning Inc., who have been assigned to project manage the construction, with Adams Consulting International (ACI) providing the civil engineers. Both companies bring a team of highly qualified professionals with vast experience of working in Barbados and the Caribbean in general.

The Show Village, which will form part of the final resort, already has a number of its components and features completed. These include:


Access road from Peat Bay Road
Car park
Office
Maintenance buildings
A fence surrounding the site
Foundations for show villas

With the foundations in place, the villa walls are currently being constructed using a quad lock ICF (insulated concrete formwork).
Once that is finished, interior fittings and landscaping will commence, with completion of the show village scheduled for early 2012. Also, work is currently being finalised on a number of criteria that form our planning permission for the first phase of the main project.

In their continuing endeavour to be environmentally and financially responsible, the Harlequin Developments team, along with its many consultants and procurement specialists, is sourcing green products and technologies from around the world so they can be assessed for their potential use on current and future projects. For example, a special roof tile being used for the villas at The Merricks Resort is made from recycled material and insulates 20% better than a standard shingle tile, so as well as being green, the tile will also reduce energy consumption from air conditioning and, consequently, operating costs

For futher information on this please call uk freephone 0800 335 7626 or +44 1780 720287

LINK: Merricks Resort Barbados TAG: Barbados H Boutique Hotel, H Hotel Barbados, Harlequin, Updates

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Press Release - Chic Boutique "H" Hotel in Barbados - 30th August, 2011

Harlequin Hotels & Resorts Announces its First Luxury Boutique Hotel in Barbados

Harlequin Hotels & Resorts, the owner and developer of the planned Merricks Resort, has purchased the Allamanda Beach Hotel on Hastings Beach, Christ Church in Barbados. Harlequin has commenced an exciting $11m BBD renovation to transform this stunningly situated beachfront property into a luxury boutique hotel. The new hotel will be called H and be part of Harlequin’s newly created luxury brand, Harlequin Boutique Hotels, opening in July 2012.

The renovation, remodeling and interior redesign will be overseen by Harlequin Developments’ Development Director David Campion who is based in Barbados. Harlequin will use several local Barbados-based companies and sub-contractors to carry out the works. The project will bring a much needed boost to the local construction business.

Harlequin Hotels & Resorts successfully opened its first ever luxury Caribbean resort at Buccament Bay, St Vincent & The Grenadines in August 2010. Harlequin has engaged leading travel industry sales and marketing professionals in the UK and US and is already featured with the leading UK tour operators. Despite the difficult world economic situation which has led to lower numbers of visitors travelling to the Caribbean over the last 12 months, Buccament Bay Resort has attracted many UK holidaymakers who haven’t visited the Caribbean before and is currently running at 85% occupancy in the low season.

Buccament Bay Resort offers a unique range of activities to cater for all interests; the Harlequin Sports Academy includes a Liverpool Football Club Soccer School and Pat Cash Tennis Academy which offers world class coaching for all abilities and ages, a Harlequin Performing Arts Academy, The Spa with treatments by ESPA, Diving & Watersports and Little Harlequins Kids Club. Pat Cash, former Wimbledon Tennis Champion, is currently at Buccament Bay Resort coaching guests and local children. Andy Townsend and several former Liverpool players have held coaching sessions for guests and local schools during July and August. In May 2011 Liverpool FC Under 19’s Team stayed at Buccament Bay Resort whilst on their end of season tour and played an exhibition match against the St Vincent Under-20’s National Team.

Speaking on his visit this week to Barbados, Mr. Dave Ames, Chairman of Harlequin Hotels & Resorts, said “I am delighted to announce this exciting new Hotel Brand for Harlequin and Barbados. This first Harlequin Boutique Hotel will bring further investment to Barbados and provide more employment opportunities as well as bringing many new holidaymakers to this Caribbean Jewel.”

The essence of the Harlequin brand is that its resorts will “Redefine Luxury in the Caribbean”. This innovative approach has already proved to be popular within the travel industry and has created a positively memorable experience for guests at Buccament Bay Resort. The success of this has led the company to create two new brands within its portfolio, the first of which will be Harlequin Boutique Hotels in Barbados.

Harlequin also hopes to announce later this week the commencement of works in September on the first stage of its development, The Merricks Resort, situated on the east coast of Barbados. It is working with the Barbados Government to gain all the necessary support so that the project can move forward quickly.

Speaking from their offices at Hythe House in Maxwell, Barbados, Garrett Ronan, Vice President of Hotel and Resort Development for Harlequin, said “The launch of the Harlequin Boutique Hotels brand in Barbados with the renovation of the Allamanda will bring a new ultra-chic ‘South Beach’ style hotel to the market. When completed it will offer sophisticated and luxurious accommodation with approximately 47 studio suites, Jack’s steak & seafood restaurant which will serve delicious local seafood and the finest cuts of prime, succulent steaks, an HQ coffee bar, a swimming pool with an outdoor cocktail lounge, spa verandah and a fitness centre. The hotel will offer a new level of attentive yet discreet service infused with Barbadian hospitality.” The new H Hotel has been designed to attract guests who appreciate chic, boutique hotel accommodation either for a week’s vacation or for a short stay as part of a multi-destination trip.

Ends ...

For futher information on this please call uk freephone 0800 335 7626 or +44 1780 720287

LINK: Harlequin Boutique Hotel TAG: Barbados H Boutique Hotel, H Hotel Barbados, Harlequin, Updates

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Revamp! the Allamanda Beach Hotel getting the Boutique makeover - 26th August, 2011


We are delighted to announce the hoteliers and developer have purchased the Allamanda Beach Hotel in Barbados, which will be renovated in the coming months, and re-opened as a Harlequin Boutique Hotel.
The developers have already started the process of clearing out the current decor. [See photo updates - Follow the link below].
These properties have been particularly popular with investors looking for a quick delivery date, and we expect to see this hotel opening in 6-9 months.

LINK: Harlequin Boutique Hotel TAG: Barbados Boutique Hotel, Harlequin, Updates

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It's only Cricket! - England stars coach at the resort in 2012 - 26th July, 2011

Harlequin Hotels and Resorts are pleased to announce that the resort will be featuring cricket as part of the Harlequin Sports Academy offerings.

Over a period of 2 weeks in 2012, Michael Vaughan and Matthew Hoggard, supported by an experienced coaching team, will be offering an exclusive opportunity for children aged 5–16 years to receive tuition from some of the world’s greatest cricket legends while enjoying an amazing family holiday.

LINK: Harlequin Sports Academy TAG: Hotels, St Vincent, Sports, Buccament Bay, Matthew Hoggard, Michael Vaughan

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Hotel and Resort Client Updates for July 21st, 2011

NEWS
NEWS
NEWS
NEWS
NEWS
NEWS

LINK: Buccament Bay Resort TAG: Buccament Bay, Construction update, Caribbean, Investment

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Construction and Facilities update - resort update for June 6th, 2011

Restaurants

New Bay Beach in the village area will open on the 8th June.
From Mid-July, 3 evenings per week, Trader Vics menu will be served and 4 evenings per week, Jack’s menu will be served.
The existing Bamboo restaurant will become “Saffron Indian” serving an A La Carte menu.
The existing Bay View is being improved with decking and a solid roof.
This will re-open Mid July as “Bamboo” and will serve Caribbean / Italian food on an A La Carte basis.
1 night per week, there will be a themed evening on the beach with BBQ and Steel Band.
Ginger & Co – Will be opening mid-July.
HQ Coffee shop has now turned into a deli as well as serving ice cream & pastries.

Dress code in Restaurants

No swimwear, football shirts/shorts. Collared shirt (polo/shirt) for men in the evenings, smart shorts permitted.

Transfers

Transfers from St Vincent airport are now done by boat, providing there is a minimum of 6 guests per flight, and weather permitting.
There is no supplement for this.
A picture of the boat we are currently using is listed below [see image 2].

Academies

Tennis: Work is being done on the court; Pat Cash will be due on the site in July.
Basketball will be coming to resort on 15th July.

Building Work / Landscaping

All Building work to now finish at the front of the resort and in restaurant village – hence Trader Vics and Jacks menus going to Bay Beach Club.
All left and right hand villas leading up to the soccer field will be finished and landscaped by the end of June.
All heavy work on villas now done – now just internal work and landscaping.
Work around the spa area will be finished by the end of July.
White sand is going to be laid on the public beach area over the next couple of weeks.

LINK: Buccament Bay Resort TAG: Buccament Bay, Construction update, Caribbean, Investment

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Wish you where here! Liverpool FC Soccer Stars "Overwhelmed" - May 23rd 2011

Liverpoolfc.tv have been following the U18s' end of season tour on the beautiful island of St Vincent - if you'd like to stay at the luxury five-star resort this is your last chance to win a FREE holiday.

The Reds' young stars have been overwhelmed by Buccament Bay Resort and have been quick to give it a massive thumbs-up.

Captain Conor Coady said: "The resort is lovely and we've loved every minute of our time here."

Goalkeeper Tyrell Belford added: "We've had a really great time here at Buccament Bay Resort. The Villas are stylish, the facilities are fantastic and St Vincent is a really beautiful island."

The team's base for the past week is nestled amid a backdrop of rainforest cloaked mountains and is a short stroll from the resort's beautiful white sand beach.

Buccament Bay Resort is also home to the Pat Cash Tennis Academy, which will host showcase tournaments and celebrity coaching from time to time.

The Harlequin Performing Arts Academy is the perfect place to learn the skills required to perform on stage and experience the magic that happens behind the scenes in Musical Theatre.

Indigo Dive at Buccament Bay Resort offers diving trips to explore the wonderful marine life of the Caribbean Sea.

You can also hire kayaking and snorkelling equipment or take a catamaran trip through the Grenadines to spot dolphins and whales or visit Tobago Cays to swim with the hawksbill turtles.

For those who wish to relax, The Spa offers treatments by world renowned spa specialists, ESPA.

So whether you have a budding soccer star, the next Wimbledon champion, or a West End Musical protégé in your family, or you just want to relax and be pampered at The Spa, there is something to keep every member of the family entertained at Buccament Bay Resort.

Read the full story on Liverpool FC website: http://www.liverpoolfc.tv/news/latest-news/wish-you-were-here-win-now
Images courtesy of Liverpool FC, © Copyright 2011 Liverpool FC. All rights reserved.

LINK: Liverpool FC at Buccament Bay Resort TAG: Liverpool FC, Buccament Bay, Liverpool TV, Caribbean, Investment

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Buccament Bay - resort update for May 23rd, 2011

LINK: Buccament Bay Resort TAG: Buccament Bay, Construction update, Caribbean, Investment

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Retirement hardship as pension payouts slump by a third : 21st May 2011 [courtesy Daily Mail]

Those retiring now can expect a pension just two-thirds of that received by someone who saved the same amount for the same length of time but retired five years earlier.

The average payout for someone who saved £200 a month for 20 years (a total of £48,000) before retiring at 65 is £84,328 — down a huge 30%pc on the £121,452 paid five years ago, figures from Money Management magazine show.

When these investments were taken out 20 years ago, savers could expect payouts of more than £300,000. Just ten years ago, they paid out an average of £165,682.

Typically, a saver would take a quarter of this money as a tax-free lump sum and use the rest to buy an annuity which pays an income for life.

Ten years ago a typical investor might have retired with a tax-free lump sum of £41,420 and an annual income of £10,997. Today they might get a lump sum of £21,082 and an annual income of £3,693.

The stock market, as measured by the FTSE 100 index, is at a similar level today as it was five years ago. But even strong with-profits companies such as Prudential, Aviva and Legal & General are paying out up to a third less than they were then.

And while they made double-digit returns on their investments last year, they have not increased the payouts compared with similar policies maturing last year.

Scottish Widows, a popular choice with investors 20 years ago, managed just £71,425.

Some poor-performing closed funds — which no longer sell their policies to new savers — have also let savers down. An old Britannic policy managed a below-average £74,009, while with Pearl Assurance it’s £71,072.

With-profits funds were supposed to smooth out the ups and downs in the stock market. In the good years, not all of the investment growth would be passed on to savers; but in the bad ones, they would get more than they should.

Instead, returns in these funds — in which savers have £330?billion invested — have crashed in recent years because life insurance companies paid out too much in the past.

Policies are supposed to increase in value each year through the addition of bonuses. But these are determined by the actuaries and can bear little relationship to the performance of the fund. The bonuses given are also affected by the amount of money the company has already promised to pay out in the years ahead — and its future investment strategy.

So companies can make double-digit investment profits and still not raise the annual bonuses paid to savers — as Standard Life has done this year.

David Blake, professor of pension economics at Cass Business School, says: ‘Smoothing investment returns is a good idea if done with transparency, but with-profits is opaque.

‘You don’t expect returns to shoot up by as much as the market rises in good years, but you don’t expect them to fall too far when things go wrong.’

He warns that those in ‘closed’ funds, which are predominantly invested in fixed-interest bonds, can expect further falls: ‘When faced with rising interest rates and inflation, the price of bonds can go only one way — downwards.’

Regulators have allowed companies to use their with-profits funds to pay the compensation costs of mis-selling personal pensions.

And some insurers have had to hold back money to cover the cost of the attractive guarantees built into some policies to encourage savers to sign on.

At AKG Actuaries & Consultants, managing director Guy Vanner does not expect to see bonuses increasing by much in the future. He says: ‘We will not see a return to the time of mistaken competition where companies used headline bonuses to attract savers. There is no longer competitive pressure on selling with-profits policies.’

So whats the alternative?

A SIPP Investment

Read more: http://www.dailymail.co.uk/money/article-1388122/Retirement-hardship-pension-payouts-slump-third.html#ixzz1Mh6EHGQt

LINK: Sipp Investment [Pensions] TAG: Pension, SIPP, invest with Pension fund

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Liverpool FC in The Caribbean [St Vincent] : 20th May 2011

"An update on Liverpool FC being in Buccament Bay this week ... " The blog entry is udpated by LFC Staff. Yesterday, Liverpool FC under 18’s played the St Vincent under 20’s, watched by a packed national stadium, and won 4-1 ...

Friday May 20, 12.15pm(Local time)
All back from a training session at one of the local schools.
We spoke to Godfrey Harry, PE teacher at Thomas Saunders High School who told us it was a dream come true to have the Reds visit. He said: "They will speak about this for the rest of their lives. Every time they see the Liverpool crest they will recall these great memories."

Friday May 20, 9:00am(Local time)
Just met up with Rodolfo and co for breakfast and about to head off to some local schools for a coaching session followed by a Q & A.
Friday May 20, 1.20am(Local time)
Here's how boss Rodolfo Borrell and captain Conor Coady reacted to the 4-1 win over Saint Vincent.
Rodolfo: "Everyone at Liverpool Football Club would like to thank the people of the island for welcoming us. It is a great experience for our players and I hope that it is the same for the youngsters here too. "I think St Vincent have a great team. I must give credit to their coach for organising them so well. They have some good players and I know it is not easy if you do not have a lot of players to select from. "It was a good game. It was difficult for us because it is tough to play in such intense heat. It was an entertaining game, especially in the second half and it was nice to get the victory and such a fantastic response from the local people at the end."
Conor: "I would like to say a big thank you to Harlequin and Buccament Bay Resort. It's been fabulous for us and we've loved every minute of our time here. "We had to deal with some difficulties with the heat and the pitch but I thought we coped with it well. "St Vincent gave us a good game and it was very close until the second half. We stepped up after the break and played very well. We got the goals we needed and it was nice to lift a trophy at the end of what has been a great season for us."

Thursday May 19, 11:00pm (Local time)
It's been a hectic day but a really enjoyable one. The wi-fi connection at the ground wasn't the best so I couldn't update the blog with everything that was going on unfortunately. Here are a few highlights for you though...
Jake was asked to be a summariser for St Vincent radio and did a great job. His finest moment was when Liverpool U18s struck their fourth goal and looked capable of scoring at will. The LFC TV Producer said: "I know this is a stadium used for cricket but the St Vincent players will be hoping that we don't go on to see a cricket score here today." At the final whistle the lads were presented with a trophy and were mobbed by youngsters in the crowd who took to the pitch seeking autographs. They were great scenes and we'll have some images from the day on the offical website soon. When the players were finally back in the dressing room they called the LFC TV crew in to cover them singing some classic Reds songs in celebration of their success. It's been a long day and after playing in such intense heat it's no surprise that the squad had their evening meal and headed straight off to bed. Everyone is tired but the result capped what is turning into a great trip as well as a season packed with some fantastic football.


Thursday May 19, 12.45pm (Local time)
The players are all kitted up and have just gone past our villa on bicycles. Rodolfo was telling me he hopes to give every one of his 20 man squad some minutes on the pitch today.
Thursday May 19, 12.15pm (Local time)
The sun is back out and the players are currently in the restaurant at the beach for their pre-match meal. Estimated departure time for the stadium is 1.30pm.
Thursday May 19, 9.20am (local time)
Chatting to David Fairclough whose winning goal in yesterday's training match is still the talk of the resort. Conor Coady was telling his Dad about the strike and said that the former Reds forward has still got it! We are currently sitting in one of the villas getting the gear ready for our trip to the stadium later on. It's been raining since we woke up at 7.30am! Hopefully it will clear up in time for the match.

Thursday May 19, 9am (local time)
Had an enjoyable time in the company of the Academy staff last night. Jake and Paul filmed another part of their documentary with David Fairclough who then had us hanging on his every word with tales of Shanks and Paisley. We've been for breakfast this morning and the players are now taking it easy ahead of the match with SVG U20s later this afternoon.
Images courtesy of Liverpool FC, © Copyright 2011 Liverpool FC. All rights reserved.

LINK: Buccament Bay Resort TAG: Buccament Bay, Construction update, Caribbean, Investment

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Caribbean Investor Resort and Works Update: 12th May 2011


GOOD NEWS UPDATE [Letter from the chairman Mr Dave Ames]

During recent months progress has been made on a number of projects, including some exciting new developments, so rather than wait to put this in the newsletter we have created this update.

GOOD NEWS ABOUT CONSTRUCTION OF THE RESORTS [see Buccament Bay Resort update photographs here and here]

Buccament Bay Resort, St Vincent & The Grenadines The official opening of Buccament Bay Resort to the travel industry took place on 3rd April 2011.The waterfront area is looking stunning with two large swimming pools and a children’s pool, decks with sun loungers, umbrellas and palm trees and some of the restaurants and boutiques now open.The remaining restaurants will open over the next few months as bookings increase and demand grows. Buccament Bay Resort is featured with all the leading UK tour operators and has been widely advertised in the UK press as well as featured in several articles. Holiday bookings have increased substantially since the opening, which gives us confidence for the future success of the resort.

We have exhibited in the US and are working with a NewYork PR agency to increase awareness of the resort in the US. To ensure a quicker and smoother transfer to St Vincent we are in the process of setting up our own airline, HarlequinAir.

We have registered with the authorities in the Caribbean and aim to be flying by the end of 2011. While work is continuing at Buccament Bay Resort to build further accommodation and facilities, Harlequin Hotels & Resorts is now focusing on its other resorts.We have employed a highly respected construction management company, Kraus Manning, to project manage construction and work with Harlequin Developments to deliver the projects efficiently and within budget.

The Merricks Resort, Barbados

Work is now underway on the infrastructure of the resort. Construction signs will be erected on the two access roads to the site and ground clearing will start on the remainder of the site in preparation for the construction of phase 1 which will begin in earnest over the next few months.

The Marquis Estate, St Lucia

Construction of the roads within the resort will start very soon so that contractors’ vehicles can access the site. Plans for phase 1 have now been finalised and work will start at the end of the summer on the Gary Player Golf Hotel and Gary Player Signature golf course. Environmental Impact Studies are underway so that plans can be completed for the villas.The final designs for phase 1 of The Marquis Estate Hotel are also close to being approved.

The Hideaway at Las Canas Resort and Two Rivers Resort, Dominican Republic

The plans for The Hideaway are now agreed and work is due to commence shortly. The reason for delaying this was to ensure that focus was maintained on finishing works for the opening of Buccament Bay Resort.The intention is to begin ground clearing at Two Rivers Resort while the construction of The Hideaway is underway. This will be both cost effective and time efficient.

GOOD NEWS ABOUT A NEW PROJECT

QUIN Hotels

QUIN Hotels is a new hotel concept created by Harlequin Hotels & Resorts, and will comprise a range of five star chic boutique hotels in fantastic locations.These hotels will not be new build; Harlequin will purchase distressed hotels which have become run down due to a lack of investment and completely renovate them to our five star standard with new plumbing, electricity, air conditioning, furniture and decoration.They will be managed by Harlequin Hotels & Resorts hotel management team to ensure the same excellent service levels that are delivered at Buccament Bay Resort.

Within nine months of buying a hotel the renovation will be complete, delivering purchasers a rental income far earlier which is a quicker return on investment, although the capital appreciation will be less than on the off plan properties within the larger resorts.

The first two QUIN Hotels will be located in the southwest of Barbados, both occupying beautiful seafront locations, and will each have a swimming pool and restaurant. Barbados has been chosen as the first location because it is the busiest hub in the southern Caribbean.The Hotels will provide guests who are booking to stay at Buccament Bay Resort with the opportunity to stopover in Barbados for one or more nights. QUIN Hotels will also showcase the quality of Harlequin Hotels & Resorts on Barbados prior to The Merricks Resort being completed.This will not delay the opening of The Merricks Resort.

QUIN I is a 35 room hotel, QUIN II is a 55 room hotel. All the rooms at QUIN I have already been sold.

QUIN II

♦ 100% finance* is available
♦ A 70% developer loan will be available on completion**
♦ 30 days free use per year (excludes SIPP investors)
♦ Two year 10% rental guarantee followed by 50% net room rate share
♦ Properties are suitable for SIPP investment
* Subject to status. Terms & conditions apply. **Subject to finance.

Read more details about Harlequin Hotels in Barbados and St. Lucia.

GOOD NEWS ABOUT FINANCE

70% Mortgages

Since Buccament Bay Resort has been open we have received a large amount of interest from financial institutions worldwide to provide the 70% mortgages for the completed properties. sWe are currently reviewing the options so that we can assess them all and select the best deal for purchasers.

Property Investors

We continue to receive a healthy amount of investment in our properties, increasingly via SIPPs but also from property investment funds.

With best wishes

Dave Ames CHAIRMAN, HARLEQUIN HOTELS & RESORTS

LINK: Harlequin Hotels and Resorts TAG: Harlequin Resorts, Construction update, Caribbean, Investment

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Buccament Bay - further resort photograph updates May 11th 2011

LINK: Buccament Bay Resort TAG: Buccament Bay, Construction update, Caribbean, Investment

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Resort Group Open Tortuga Resort in Cape Verde | May 3rd 2011

Resort Group and Sol Melia officially open Tortuga Beach

The Resort Group officially opened its completely sold-out €85 million Melia Tortuga Beach resort on the Cape Verde island of Sal this week and simultaneously unveiled its neighbouring Dunas Beach resort … currently under construction and scheduled to open in the first half of next year.

The 370-unit Tortuga Beach Resort will be dwarfed by the 1,206-unit Dunas Beach scheme, which has a footprint almost two-and-a-half times as big. 50% of the residential units on Tortuga were sold through UK-approved SIPPs (self-invested personal pension schemes) and Dunas has sold more than 80% of its units to date through the same channel. More than 1,000 of the Dunas beach units have already been sold says the company. “We are thrilled with progress on the two schemes,” Resort Group managing director Charlie King told OPP at the official opening ceremony. “As an overseas property developer, we see Cape Verde as a big opportunity to do something different … on what we think is some of the best development land in the world.” King says that the Resort Group sells its schemes “as part of an investment plan for (its) buyers. Our aim is always to give a good return, and we are confident that Tortuga Beach will do that.”

He told OPP that “capital growth rates here in Cape Verde are good, and have averaged around 10% on land and property in recent years,” adding “we tell investors that they can expect at least 6% per annum capital growth if they invest with us.” “And, having an excellent hotel and resort operator on board like the Sol Melia Group means buyers should be able to achieve rental returns of at least 8% to 9%. Combine the two, and you can see why we sold all of Tortuga Beach off-plan so easily and so quickly.” The 25-year deal with Sol Melia is expected to drive occupancy rates in the hotel rooms and villas in order to owners and investors a good return. The global hospitality group will also be strategically useful in drumming up visitors from all around the world. Only four of the Tortuga Beach units were purchased by buyers from outside the UK. “We want to get more visitors in from other countries,” says King, “and Sol Melia think in very global way. That will be a big help to us.” Indeed, The Resort Group is increasingly keen to sell its new Dunas Beach project into other territories and it is “actively looking” for new sales partners overseas. King says that the company is keen to spread its network into countries like France, Germany, Portugal and Spain. It already has a new partnership in Italy about to get underway. Prices for Tortuga Beach started at €130,000 says King, and units will be available on the forthcoming Dunas Beach Resort from €134,000. “We can offer 50/50 deals too,” says King, “so people can get involved for as little as €65,000.” The third phase of the project will be a new Sol Melia hotel built on sea-front land between Tortuga and Dunas, called the Llana Beach Hotel. Construction contracts are being negotiated now.

The resort will also offer the island’s only modern meeting and conference facility. The latest generation of audiovisual technology and two meeting rooms with capacity for up to 240 people are designed to host all types of meetings and events. Leisure options at the resort include different food and drink options via the Aqua Italian restaurant, the tex-mex O Grille Beach Club Bar & Restaurant, the My Grill Sports Bar & Restaurant, or the Sway Lobby bar. There is also a Sol Melia branded Yhi Spa and treatment centre.

The accommodation options are:

Four bedroom villa: The 4 bedroom villas enjoy a spectacular location on the ocean front. 153 square metres with a master bedroom with en-suite bathroom, 3 individual bedrooms, two bathrooms, a fully-equipped kitchen, open-plan lounge and dining room, terrace with private garden and pool.

Three bedroom villa: The 3 bedroom villas are built on two floors and measure 115 square metres. They provide two double bedrooms and a third bedroom with two single beds, and a private garden and pool.

Two bedroom suite: The suites have different layouts but always provide a spacious bathroom, fully-equipped kitchen and a large lounge with terrace or balcony. The main room has a king size double bed and the second room has two single beds

Family suite: These suites can either provide one or two bedrooms. They have a spacious bathroom, like the 2 bedroom suites, as well as a fully-equipped kitchen, lounge/dining room and terrace or balcony.

Meliá rooms and Meliá premium king size bed: Located in the main hotel building, these suite-style rooms measure 42 square metres, 52 in the case of the premium room, and provide a luxury bathroom as well as an outdoor terrace.

Hotel partner Sol Meliá was founded in 1956 in Palma de Mallorca (Spain) and is one of the world’s largest resort hotel chains, as well as Spain’s leading hotel chain. It currently provides more than 300 hotels and 78,000 rooms in 27 countries on 4 continents under its brands: Gran Meliá, Meliá, ME by Meliá, Innside by Meliá, Tryp by Wyndham, Sol and Paradisus. Its product and service portfolio is completed by Sol Meliá Vacation Club, the only Vacation Club operated by a Spanish company. It is the most widely recognised hotel company in Spain and its brands achieve average satisfaction levels of 80%. The company’s rewards loyalty programme has 2.3 million members, the largest in Spain. Solmelia.com is the leading hotel website in Spain with more than 2.2 million subscribers. Tortuga is one the world’s most popular beaches for sea turtles to lay their eggs and the development plans to work hard to maintain the area and encourage eco-tourism in an environmentally sensitive way. The opertion will protect the egg-laying areas of the coast and allow visitors to sponsor individual turtles. The Cape Verdean government has also been supportive of the scheme with 10-year tax concessions and planning rules to discourage over-development.

The current visitor profile to Sal is 26% from the UK, 15% from Germany, 13% from Portugal, and 12% from Italy.

Sol Melia and The Resort Group are also going to investigate the possibility of future developments on the neighbouring island of Boa Vista

Article courtesy OPP (C) www.OPP.org.uk

LINK: Dunas Beach Resort TAG: OPP, Dunas Beach Resort, Sol Melia, Cape Verde

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Buccament Bay - Infinity Pool & Coffee Shop update April 2011

LINK: Buccament Bay Resort TAG: Buccament Bay, Construction update, Caribbean, Investment

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Buccament Bay - Update Commerical area and infinity pool area March 2011

News updates of the latest construction work - "Work is ahead of schedule for this phase of the resort" as you can see from the images below all the beach decking has been finshed along with the pool area and commercial buildings. The Litle Harlequin's (Children's Club) again is near to completion in the next few days.

LINK: Buccament Bay Resort TAG: Buccament Bay, Construction update, Caribbean, Investment

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Buccament Bay - Sunday Times Feature 22nd January 2011


This weekend’s Buccament Bay Resort promotional update:

22nd/23rd January 2011

Buccament Bay Resort made ‘The Sunday Times’ travel supplement feature, ‘SUMMER 100 – Your ultimate guide to the 100 best holidays of 2011’ (please see link below).

Along with our own full page advert in ‘The Sunday Times’ travel supplement (please see attached link) Buccament Bay Resort was also featured in the ’Virgin Holidays’ full page advert in both ‘The Daily Telegraph’ and ‘The Mail on Sunday’. This further goes to show the confidence the tour operators have in the Resort.

LINK: Buccament Bay Resort TAG: Buccament Bay, Times, Daily Telegraph, Harlequin, Caribbean, Investment

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Jamaica - New Investment Beach Resort: 12th January 2011


10% Guaranteed Returns 2, 5 or 10 years ... The long awaited resort in Jamaica is pre-released today ... located on the western side of Jamaica, just 40 minutes from Montego Bay, Airport. This new mega resort boasting a huge 4km of white sandy beaches will feature the 'Espa' Luxury Spa Center, A Signature Golf Course, Liverpool soccer school, Pat Cash Hotels and the Pat Cash Tennis Academy and prime front-line hotel suites - perfect for the investors looking for a great return.

SPECIAL OFFER PRICING FOR THE FIRST 100 SALES - studio suites from £90,000 - call Assets International on 0800 335 7626 or visit www.assetsinternational.co.uk for more details.

LINK: Jamaica Harlequin Resort - NEW RELEASE TAG: Harlequin, Jamaica, Investment

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Archived News from 2010

Tortuga Beach Resort - Updates :: 22-11-2010 Official opening of the Melia resort in Cape Verde >

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Assets International Agent "GETS MARRIED" at Buccament Bay :: 3-11-2010 First wedding at Buccament Bay Resort in St Vincent >

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Virgin Holidays LOVE Buccament Bay :: 20-10-2010 Virgin Holidays support the launch of the new resort >

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Merricks Beach Resort - Barbados - Ground Break :: 30-09-2010 Pat Cash and Dave Ames break ground at the Merricks Resort >

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Buccament Bay marketing frenzy from high street agents :: 15-09-2010 High Street travel agents marketing the resort >

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Merricks Beach Resort - CGI updated images :: 7-09-2010 New images for the stunning cliff top resort in Barbados >

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Harlequin Hotels and Resorts holds soft opening at Buccament Bay :: 26-08-2010 Buccament Bay Opening >

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Liverpool FC soccer schools Caribbean Kop - insight into the Liverpool FC schools >

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Cabana Villas handover at Buccament Bay Resort :: 03-08-2010 Mark Sawkins and the senior management team handover.

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Pat Cash Tennis Hotels now launched in the Caribbean :: 15-07-2010 Stunning rooms are now available at the Pat Cash Tennis Hotels >

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Hortham Ridge Winery & Buccament Bay :: 29-06-2010 HHR have commissioned Hotham Ridge Winery to supply wines for the resort >

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Buccament Bay Site Update Photographs :: 18-06-2010 New images from the resort >

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Buccament Bay - The Pearl restaurant and ship! :: 27-05-2010 The Pearl leaving Indonesia >

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Liverpool Soccer School update :: 04-05-2010 Adam Flynn and Liverpool legend David Fairclough take training >

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Join us at Wembley Stadium - Open Weekend :: 24-04-2010 Open weekend at Wembley - meet the team and see the developments >

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St Vincent Prime Minister Visit :: 12-04-2010 Rt Hon Ralph Gonsalves visits the resort >

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Buccament Bay Resort Update :: 04-03-2010 Latest updated images for the resort >

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Site Progress Report - 06-01-2010 Updated site images for Buccament Bay >

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Buccament Bay Update :: 30-11-2009 Latest images for the resort >

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