Profit from a brand-name hotel development – Canadian Investor claims answers unfold at Dining Club this weekend [SHAMELESS PLUG]
According to Canadian investor Bob Verdun, in Barbados’ Parliament, in constituency meetings, in the shops, and at the domino tables, Bajans are saying that condo development has gone seriously wrong! Instead of enhancing windows to the sea and improving beach access, condo developers have thrown up massive concrete structures that shut Bajans out of their own birthright.
Hotel rooms are disappearing, and there are too few hotel brand names to attract new visitors. Verdun is of the view that the new Government is committed to change. It wants to rebuild the stock of hotel rooms; it wants brand names; and, most important, it wants Bajans to have a meaningful piece of the action.
Can these goals be achieved? Yes! But only if middle-class Bajans move from being mere savers to becoming effective investors. Bob Verdun is now offering a first project — and it is truly a BOLD one. He claims that every dollar invested now, should return $3.50 in less than three years’ time, based on a proven, conservative business model. Nine months ago, about 100 Bajans expressed strong support for the Barbadians’ Own Land Development (BOLD) Company.
On August 4, 2007, about 100 middle-class Bajans attended a public meeting to express their enthusiasm for Economic Emancipation. They strongly endorsed the concept that the majority population of Barbados should be able to earn solid investment returns from land development projects that are good for this island.
Nine months later, this ?baby? is ready to be born. After careful research, the leaders are ready to unveil their first project ? truly a BOLD one, as it should be for the Barbadians? Own Land Development Company.
On a prominent site near the University of the West Indies, convenient to Batt’s Rock Beach, plans are well advanced to bring the World?s Largest Hotel Chain to Barbados ? using a business concept that allows middle-class Bajans to own and control the hotel, with 100% Bajan management. Please join us at 10:00am this Saturday, May 17, at the Dining Club to learn more.
The Best Western University Towers All-Suites Hotel will set a new standard for tourism and business services in Barbados. The development will feature state-of-the-art environmental protection and energy conservation, and its site will be beautifully landscaped with a maximum of public facilities and open space for Barbadians to enjoy.
LOCAL PEOPLE BENEFIT
Best Western is a unique organization, very similar to a co-operative. It has no corporate-owned hotels and no foreign-based management teams. It works strictly with local investors, who hire their own qualified local managers. Best Western provides outstanding training and support, along with powerful marketing, allowing local people to earn the benefits.
The typical brand-name hotel consumes 10% to 15% of total revenues, but the cost of the Best Western brand is typically only 3% of revenues ? and almost all of that goes into marketing services, so it is more investment than cost.
The business plan for the Best Western University Towers All-Suites Hotel will allow the majority population of Barbados to participate in two ways: as shareholders in the BOLD Company and as owners of the individual hotel suites.
The business plan allows everyone to earn a reasonable return ? while setting an example for future tourism development to be publicly accessible, locally managed, and open for all Bajans to profit by investing.
Mark Williams, Best Western’s Vice-President for Development for North America and the Caribbean, recently completed a visit to Barbados that included a meeting with Tourism Minister Richard Sealy and his team. Mr. Williams determined that the University Towers site and concept are ideal for Best Western, a brand that is keen to expand in the Caribbean.
Best Western has the largest number of hotels in the world, including Britain. Thus, tourists from Barbados?s largest market are very familiar with the excellent value and high quality that they can expect at a Best Western hotel.
Of course, Americans and Canadians are strong supporters of this brand, which has its main offices in Phoenix, Arizona, and Toronto, Ontario.
At his departure for the tourism investment conference in Trinidad, Mr. Williams described his visit to Barbados as one of the most productive development tours he had ever experienced.
THE ACTION PLAN