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Boracay Condotel |
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Enjoy 45 Days Vacation at Boracay For Free
Per Year - but still EARN at least 20% ROI per year! |
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PROJECT DETAILS - click the
image to enlarge |
Welcome
to your private piece of heaven on the world's premiere island
paradise!
On the world-famous tropical island paradise of Boracay will
rise a luxury hotel that provides elegant accommodations,
exceptional facilities, and unforgettable Filipino hospitality:
the Crown Regency Boracay. In continuing the fine tradition of
the Crown Regency group of luxury hotels, the Crown Regency
Resort-Hotel in Boracay will exceed the expectations of island
vacationers looking to enjoy this Philippine island's
powder-fine white sand, crystal-clear turquoise waters, and
incomparable sunset. Impeccably designed for the traveler of
distinction, elegantly furnished for the tourist seeking the
finest accommodations, and perfectly situated for the vacationer
desiring the best location on the island, this Boracay resort
and hotel upholds the tradition of excellence ingrained in all
Crown Regency hotels.
Mix business and pleasure in one fabulous
location!
On the Philippine island paradise of Boracay will rise
the Crown Regency Convention Center, a first-class property that
combines the best of both worlds for the discriminating
traveler: finely appointed Boracay accommodations and
world-class business and conference facilities. This Boracay
hotel will be the first world-class conference center on the
island, and with its twin benefits of value for money and
impeccable service, is soon to become a legendary property on
this tourists' dream island.
Each guest room at the Crown Regency Convention Center in
Boracay is comfortably decorated with top-quality furnishings
and all the amenities needed to make for an unforgettably
relaxing Boracay stay. Designed to meet the needs and
expectations of well-traveled citizens of the world, this
Boracay hotel seamlessly and effortlessly combines business and
pleasure, thanks to the efficient hospitality afforded by the
staff of this Boracay hotel.
As a member of the Crown Regency group of luxury hotels, the The
Crown Regency Convention Center and Prince Hotel in Boracay is
the ideal hotel in Boracay from which to do business or leave it
all behind! Experience Boracay the way it was meant to be
experienced at the Crown Regency Convention Center. |
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Boracay Condotel
Location at Station 2 |
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An Investment Proposal.
FOREIGNERS CAN BUY! 100% FOREIGN OWNERSHIP ALLOWED!
A PERFECT GETAWAY FOR THE PERFECT INVESTMENT!
Boracay recently voted as one of Yahoo's Top Ten Best Beaches in
the World! |
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Click
Here To Download The Boracay Condotel Investment Proposal Kit
and Information |
BORACAY
ONE OF THE MOST BEAUTIFUL ISLAND AND THE
COUNTRY'S BEST JEWEL, KNOWN WORLDWIDE. Only 35-min. flight from
Metro Manila and 50-min. flight from Cebu City. Easily
accessible by land, air & sea. According to 2007 latest report,
(script from ABS-CBN Sports Unlimited Presented last 10om of May
26, 2007 Hosted by Marc) Boracay won the title as the BEST
TROPICAL RESORT in the WORLD. According to the Department of
Tourism, the island needs about 10,000 rooms but currently there
are only 5,000 available. THE ISLAND WELCOMES 400,000 VISITORS
EACH YEAR FROM ALL OVER THE WORLD. 2nd Quarter of 2004, the
Kalibo airport started accepting international chartered flights
from Korea and Taiwan. Majority of Boracay foreign tourists come
from Korea, USA, Germany, UK, China and Japan.
PROPOSAL:
We are offering the following proposal for
investors:
Opportunity to own a piece of tropical paradise in premier
vacation capital of the Philippines through acquisition of a
preferred stock share ownership representing a specific condotel
unit. Condotel Unit ownership with Club Ultima membership Hotel
room nights privileges in any Crown Regency chain of hotels
nationwide: Cebu, Davao, Makati, Mactan, Boracay. Access to
world class facilities through Interval International hotel
exchange of more than 2,000 hotels and resorts, worldwide.
Guaranteed 45 days free nights per year accommodation even
during peak season (with priority booking as unit owner).
Projected substantial returns on investment through condotel
operation.
A Brief Background on
Boracay
Boracay is a tropical island conveniently
located at the northwestern tip of the province of Aklan. It is
a coral island with a total land area of 1,083 hectares. It is 7
kilometers long, 0.5 km. at its narrowest and 2.0 km. at its
widest. Laced with a beautiful stretch of beach 4 km long that
is known for its powdery white sand unequalled not only in the
Philippines but anywhere else in the world.
Boracay is composed of 3 barangays of the Municipality of Malay.
With a local population of about 13,000 whose main source of
livelihood is tourism. The island was declared a tourist zone in
1978 and tourism development has expanded rapidly since then.
Boracay is the Philippine's major tourist destination. Tourist
arrivals in 2005 was 499,457. The average yearly increase from
1998 to 2005 was about 20%. Local tourists accounted for 69% of
arrivals in 2005 while foreign tourists consisted of 31% of
arrivals. The influx of foreign tourist manifests an increasing
trend since 2003, with Koreans registering the single largest
nationality that visited the island, accounting for 65% of
foreign tourists.
Getting to Boracay
Plane
Travel by air via Kalibo/Caticlan is the
fastest way to go Boracay from Manila or Cebu.
Asian Spirit & SEAIR has more than 45x flights daily from Manila
to Caticlan and other routes. PAL & Cebu Pacific Air each has 3x
flights daily via Kalibo. Soon Air Phil and Cebu Pacific will
fly the Manila to Caticlan air route.
Sea Ferry
Via Dumaguit on Negros Navigation or WGA
Superferry. Travel time is about 12 hours, however, upon
reaching Dumaguit, you still have to travel about 1 ½ to 2 hours
by land before reaching Caticlan jetty port.
Land
The cheapest way to Boracay is via roll on
roll off (RORO) trips to Panay Island. Daily Philtranco
airconditioned or non-airconditioned buses leave for Panay via
Caticlan. From Manila via bus to Batangas pier, travel time is
about 2hrs to 3hrs depending on the traffic. Batangas to Calapan
by boat takes 2 hours, another 2 hours by bus from Calapan to
Roxas pier, then 4 hours by boat from Roxas pier to the Caticlan
jetty port.
PROJECT:
Name: Crown Regency Resort & Convention
Center
Area: 382-room resort condotel with an approximate area of
12,000 sq.m.
Location: Located in Barangay Balabag along the main road of
Central Boracay.
Only a 3-minute leisure walk (5-meter wide brick flooring) to
the Station 2 Beach. Only 5-minute walk to Bolabog Beach Safe,
located near Boracay Police & Coast Guard station.
Structure: Three and a half stories high. Guests will have
access to the best facilities:
The largest swimming pool in Boracay (2,500 sq.m.)
1,200-person capacity Convention Center
Mermaid Performance Pool
Laundromat
Food and Beverage outlets
How to Get to Crown
Regency Resort & Convention Center:
Only 5-minute away from Caticlan Airport
is the Crown Regency Welcome Center with the staff to welcome &
assist you. Parking facilities for privately owned vehicles are
available.
Crown Regency with its own private boat will take you to Boracay
Island. When you reach the island, private shuttle van of Crown
Regency will transport unit owners & guests within the island. |
PROPONENT:
Property Owner:
Boracay Multiple Properties Developers, Inc. a 100% subsidiary
of J. King & Sons Co., Inc.
Developer & Marketing:
Fuente Triangle Realty Developement, Corp., another subsidiary
of J. King & Sons Co.,Inc. The sales and marketing team behind
the rising Ultima Residences Towers in Metro Cebu.
Condotel Management:
Crown Regency Hotel Group, an experienced
and established hotel chain owned by J. King & Sons Co., Inc.
Club Ultima, Fuente Towers Cebu Crown Regency Suites in Mactan,
Cebu Crown Regency Residences in Guadalupe, Cebu Crown Regency
Residences in Davao Crown Regency Hotel and Towers in Fuente
Osmeña, Cebu Crown Regency Hotel in Makati (Sept. 2007) Crown
Regency Resort Hotel West Boracay, Station 3 (June 2008). |
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PRODUCT and Pricing:
381 Fully Furnished Condotel Units of the
Following Classification: |
| Quantity |
Unit Type |
Contract Price |
CASH PRICE |
Equiv. Shares |
Appx. Area |
View |
|
43 |
T1 with Loft |
Php 9.5M |
Php 8.9M |
2 |
59 |
Ground (Garden View) |
|
35 |
T2 with Loft |
Php 10M |
Php 9.5M |
2 |
57.5 |
Ground (Pool View) |
|
154 |
T3 |
Php 6M |
Php 5.5M |
1 |
33.5 to 34.5 |
2nd & 3rd (Garden View) |
|
104 |
T4 |
Php 6.2M |
Php 5.7M |
1 |
33.5 to 34.5 |
2nd & 3rd (Pool View) |
|
12 |
T4A |
Php 6.8M |
Php 6.5M |
1 |
41.5 |
2nd & 3rd (Pool View) |
|
33 |
SU |
Php 150/sq.m. |
Php 134/sq.m. |
3 |
52 to 81 |
Deck |
* Reservation deposit of
Php 100,000.00
is part of the down payment;
* Down payment can be paid in 3 to 6 months.
* For down payment payable in 6 months, the monthly
amortization starts on the 7th month;
* All retention payables should be covered by blank
dated checks. Six (6)months prior to the start of the
condotel operation, buyers will be informed that the
blank dated checks will be deposited;
* For buyers with unpaid balances at the start of the
condotel operations will only receive 70% dividends due
until purchase amount of unit is fully paid;
* Full profit of investors starts when investment is
fully-paid
* Reservation deposit of ONE HUNDERED THOUSAND PESOS (Php
100,000.00) is part of the total purchase price and is
non-refundable
* Cash paying Investors gets a signing bonus 45-day FREE
Stay at any Crown Regency Hotel. Subject to registration
with Interval International,these days too can be
exchanged to avail of more than 2,900 hotels and resorts
worldwide. Subject to Interval International
regulations,advance bookings and payment of any fees and
charges that may become payable. Check the website
www.intervalworld.com
Notes: All payables shall be covered by post dated
checks. |
- Resort has six (6) glass elevators to
cover all floors. Philippine and Foreign Nationals are
eligible (Residents or non-residents).
- Investors will purchase company stock
share in Boracay Multiple Properties Developers, Inc.
one(1) stock share is equivalent to one(1) condotel
unit.
- Unit are designed on a thirty
(30) sq.m. (standard) or forty-five (45) sq.m. (with loft)
equivalent to one (1) stock share.
- Units are all
fully furnished with kitchen, TV and standard
hotel amenities.
- Investors will have the option to
reside in their units or enroll in the condotel operations.
- For Residing Investors, they will have to
pay administrative maintenance fees as in standard condotel
operation.
- For Condotel Enrollees, the
administrative and maintenance fees will be deducted from
gross income from Condotel Operations.
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PRIVILEGES:
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. |
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Condotel Enrollees earn
US $5,250 (PHP 241,500) MORE
than the standard bank deposit. In addition to the projected net
income, investors have their 45-day Free Stay guaranteed benefit
which they have the option to sell.
45-DAY FREE STAY / YEAR
with an option to sell or use worth
US $4,500 (PHP 207,000)
based on an assumption of 4-star hotel rates of US
$100/day in Boracay
Projected Net Income
US $9,600 (PHP 441,600)
Guaranteed Benefit
US $4,500 (PHP 207,000)
An investor gets an estimated total of
US $14,100 (PHP 648,600)
per year
The
bigger the
investment the higher the returns. Investors could look
forward to an estimated 5-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% to 70% of the total contract
value, investor receives 50% of the income due. If investor has
paid 70% to 90% of the total contract value, investor receives
75% of the income due. If investor has fully paid the total
contract value, investor receives the full income due him
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PROMOTION:
Boracay is a haven of natural beauty and
splendor uniquely on its own- And Crown regency Group of Hotels
has captured this ambience in the island by integrating the
elements of Earth, Fire, Water, and Wind in the master planning
of the four (4) resorts. Well-planned promotions and expertise
of the hotel operator and their marketing channels will ensure a
high occupancy and ultimately high investor returns.
PAPERWORKS :
Investors signs a purchase agreement to
acquire a preferred stock share from Fuente Triangle Realty
Development, Corp. representing a specific condotel unit. Upon
full payment of unit, investors receive a fully-paid preferred
stock share certificate. Preferred stock share certificate can
only be resold when unit is fully paid
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
(P100K) 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. (Refer to
section 8 of Contract to Sell) |
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 incurrence's
to be shouldered by the unit owner upon enrolment 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.No, insurances are sourced by the hotel operator and
are shouldered under operating costs covered in the estimated
50% hotel operators share.
Q7. Can a unit owner live in their
property full time?
A7. No, 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. |
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Boracay Condotel,Boracay Condominium,Boracay
Condo for sale,crown regency boracay,boracay island,boracay
philippines,Condotel for sale,Boracay investment,Boracay Condo
hotel,for sale in Boracay |
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Contact:
Roy Sunpayco
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