DeVere Hotel

Here's a radical thought...

As a very rough, unfounded estimate, I would guess the value of my 2 bed apartment would probably go up by about £30,000 if we had a 4 star hotel with all of the promised facilities on the resort.   I for one would therefore be prepared to invest an amount up to £30,000 to ensure that we had such a hotel on the resort.   That would mean that if we could get 1000 like minded owners together we would have £30 million.

I did a bit of googling and found that the 4* Marriott Hotel at Heathrow was built for £27.21m

Perhaps if De Vere do turn down the opportunity to build a hotel on our resort, we could all get together and build our own.   That way we would see the value of our existing investments go up and have a major share in a hopefully profitable hotel.

Something to ponder for the future perhaps?

Brilliant idea, I'm in, where do you want me to lodge the 30k.

ace

i thought april fools day was a few weeks away !! 

pay a premium for the resort facalaties , then pay again to build them !!

Well said searay, I thought for a second people might have taken this seriously.

Very radical idea indeed Lomasity, think you may struggle just a little to enlist enough support but worth a try.

Just as a small note of interest, it is not De Vere who will build any hotel. The arrangement is that Calidona will build and fund the hotel and de Vere were brought in to lend their name and manage it presumably for an agreed fee.

Bear in mind that Hyatt are just about to pull out of la Manga and the hotel is to be managed and run by la Manga Club which is itself currently running under administration, I think you will agree that recent events may well justify a rethink in the short term.

You could always try the positive thought that if no hotel, then more demand for rental of properties and I believe visiting groups of golfers etc are indeed offered apartment accomodation by Roda.

The problem is that due the Great Recession and Sterlings weakness, demand for holidays at Roda or anywhere in Spain and indeed Europe will be slow for some time.The Costa Calida is not yet a major golfing name nor tourist trap, perhaps that's why we all liked it.

Like most on here I feel it is a shame that all promised facilities have not yet been put in place but perhaps it is sensible to concentrate on ensuring what is in place is successful and the whole resort is not brought down by an inappropriate hotel build.

Maybe we should all count ourselves lucky ( exempting Phase 4 buyers who have suffered bad delays) that we do own property in one of the nicer areas with a great golf course,

We make choices in life, some go right some go wrong and some end up being a compromise but it is never healthy to bemoan losses that we have little control over.

May also be worth remembering that unemployment in Spain is currently around 12% and in UK 8% and rising perhaps our thoughts should be with their hardships rather than our own perceived ones.

hugh_man was there ever a better moniker.  What a considered point of view you have.

We all made some decisions here, and we are where we are.  We can now decide to sit on the sidelines and moan about how rubbish everyone else is (particularly Spanish corporate thieves).  This seems to satisfy the human (or is it British) instinct to be right, yet  somehow perversely still unhappy and dissatisfied.  Or we can see this as a time for entrepreneurialism??

Lomasity - hats off to you.  I invested a large amount of money in what I hoped would be a successful enterprise.  Turned out I wasn't (yet) right.  i'm now faced with (a) struggling to break even but keeping quiet (that's what i've done so far); (b) joining the carping majority who think we've all been done over and should vent our anger in a sterile forum (did anyone actually even talk to a solicitor about what our real rights might actually be?) - that seems to be the thrust of most comment on here or (c) turning adversity into opportunity and putting 10% more in to follow our losses (when the chips are down..... look up).

If we really believe in the Roda concept (I for one still do), then I'm not sure that's such a bad investment.  Certainly it's not such a bad investment as HBOS shares have been recently.  If we as owners really believe in the investment, then we would back it with the extra 10%, wouldn't we?

Yes it will be difficult to find 1000 people willing to put £30k in.  But Calidona found over 1000 people willing to put north of 200k Euros into a 'vapourware' investment.  So it can't be that stupid an idea.  Can we buy them out of the hotel rights?  I think a leveraged buy-out would be a great response....

Anyone else in???

John

Am I missing something? Why all the concern over a hotel facility that would house golfers coming to play the course and short break stays? They aren't going to add much to the revenue of those of us who own apartments.There are hundreds of apartments available for rental that could accomodate anybody who wanted to stay right now.

I have two apartments on Roda and rentals are very healthy because guests love the resort, the pools and the peace. They don't come because of the beach club or bemoan the lack of a hotel (what use would it be to them anyway?).

The addition of more sports facilities would be a plus but will make little difference to peoples decision to stay. I do think that additional bars, a supermarket and somewhere else to eat on resort are a major plus in terms of rentals and these are the areas I want to see in place.

We have been owners for over 2 years now and I haven't heard a bad word about the resort, beaches or area from any guests.

Lets start listening to what guests who use the resort say. It's not a place place to sepnd some quality time- and that's why I invested.

Mark

 sorry posted in wrong place .

debbie

This message was last edited by debbie k on 2/19/2009.

Probably not the best place to post this link, but not sure where else to put it

http://www.journallive.co.uk:80/newcastle-sports/2009/02/18/spain-s-next-big-thing-61634-22955785/

Anita

excellent posting many thanks .

jhardy423

i guess i am one of the caprers you refer to in your posting .

i believe roda has the potential to be a world class resort ( hence i purchased roda phase 4 ) those of us that purchased on the later phases paid a premium as to you earlier people ( and good luck to you ) who got in early with the expectation of facalaties to follow and add value to your units .

the fact of the matter is we will be expected to complete on the most expensive phase so far without the facalaties in place , a lot of decisions to purchased were influanced by the fact that devere ( a world renowned name ) were to have a 5* hotel on the site ( afterall who are calidona ) this as we speak is still undecided , the hotel being on site sets roda apart from other resorts and adds prestige to the resort and hopefully value as without it there is no spa / gym  etc all of which were selling points for calidona .

people who purchased for investment will struggle to even cover costs let alone come out on top , however investments can go down as well as up some you win some you loose .

however people who purchased for lifestyle reasons ( i include myself ) simply will not have the resort they were sold and paid a premium price to be part of and with no indication of if it will ever happen .

all of the units sold on roda to date were sold at boom time prices yet they cannot complete the facalaties as advertised at point of sale ? 

the idea of the community funding the building of a hotel ( when the developer would appear to have the funds to do so ) is in my opinion tantermount to financial suicide  , afterall calidona are protecting there financial position by not building in the first place .

i have taken independant legal advice and am fully aware of my options and also the responsabalaties of calidona in this situation .

i appolagise if this post appears negative , i would prefer to use the term a factual account of the situation .

i would just like to ask a general question . IS GETTING WHAT YOU BOUGHT AND ARE EXPECTED TO PAY FOR TO MUCH TO ASK ?? .

Sorry I didn't mean to offend searay.  I absolutely respect your point of view.  It's just that what I see on the site is a lot of people making demands, but railing at the internet doesn't ever deliver.

Presumably your solicitor has told you that you have a good case?  If that's the case, then lets get the facts out in the open and make a combined action against Calidona?  That would be affirmative action.  And it's certainly a valid alternative course to us building our own hotel.  Arguably, probably easier.

My point was: let's look at the options for what we can actually DO.   Ideas posted so far seem to range from:

    - force Calidona in the courts

    - build our own hotel (with our own cash / raising the money on the markets?)

    - acquiesce and ride out the storm (I suspect it will genuinely all come right, but this downturn has clearly been unprecedented)

     - get angry on the Internet.

I just want to avoid option 4.  It's pointless.  You seem to be suggesting Option 1.  But on your own you will be less powerful than if we combine.

Question (to all readers) - how do we combine our forces, get the options on the table, and decide what we want to do?  United we stand.....

John

it is my understanding that the position of people who have actually completed and those of us who have not is totally different and as such presumably a joint action would have to involve two different issues , not sure how this would work in reality ?

i am quite happy to ride out the storm ( although i do believe it will be many years before these properties start to show increases in value ) what i am not happy about and not prepared to be fobbed off with is lack of facalaties that were clearly stated at point of sale and in marketing literature afterall why buy a bentley and take delivery of a lada ? 

reading current owners posts regarding issues post sale makes me even more determined not to be fobbed off on this issue .

ps no offence taken  

I guess the reality would therefore be:

1.  Those who have completed (and care) take it forward with the Courts to pursue what Calidona promised.  If we think we have a case.

2.  Those who haven't completed (and care) refuse to complete, and agree to fight it in the Courts, if necessary, on the basis that Calidona are in breach of contract.  If we think we have a case.

So.... what do people want to actually DO?

I want the facilities promised at the point of sale and nothing less. Can a group of us get a solicitor or lawyer to write a letter to Caladona on behalf of us all?

Paul

Go for it Paul.  Let me know if i can help

GOOD THREAD!

i believe that the seperate communities could join forces and aproach calidona for some sort of compensation for not delivering what they promised at point of sale?

this way any compensation could be added to comunity funds and put to use in resort?

or even calidona contributing to comunity upkeep in some sort of way?

i for one am not too concerened about the hotel not being completed (as i believe as a renter it takes away custom) but i defenently think we need more comercial outlets.

but the fact is that it doesnt matter what our opions are - calidona have not delivered what they promised, and therefore w eare all due some sort of compensation.

Apart from the Calidona website statement about the economic climate and delaying the building of the hotel, was anyone actually ever given a reason as to why the hotel was not built?

In 2005, we were told the resort would be finished in 2010, if it was on schedule, it would now be close to completion, and not having to worry about the effect of the current economical climate as to whether the hotel etc will be built.  We should by now have all of the facilities up and running.

Thanks Brian and Sam - it just strikes me that an offical explanation has never been given as to why the hotel work stopped.  If anyone could shed any light on this I would be grateful.  Thanks again - Russ