We seek funds for the acquisition and opening of Golden Coast resort, 44 rooms specializing in sea holydays and surf activities to provide sport, relaxation and recreation in Portugal. This place is very famous for surfers. There is all along the year a quantity of surfer’s room occupation and there is a big miss of high class resort rooms available. Portugal became a very important tourism country in Europe, and the capacity for resort rooms is missing in the summer season. This resort is located next to the capital, Lisbon and has a very famous coastline as well for Portuguese that for foreigners. Combined with an on-site lounge, grill, semi gastro 120 seats restaurant, as there are no high class restaurants in this Ericeira, morning continental breakfast, bar, we are seeking investment funds to renew the resort building, accommodate the rooms and the furniture. We want to open an outside dance floor. The swimming pool is already built,We need to finish the rooms and accommodate the rooms, furniture, air conditioned and redesign in a more modern shape .
Golden Coast Resort, will form the basis of a highly profitable resort venture. The plan is a combination of primary and secondary research, upon which the marketing strategies are built. Discussions and interviews were held with a variety of individuals involved with other similar businesses to develop the pro-forma data, review the market potential, and competitive situation. Finishing the resort as a 4 stars sea shore resort, resort’s design elements and furniture will reflect this “sea shore” approach and provide an overall comfortable experience. As growth warrants, the 20’000 square meters site would allow for future expansion of the lodging portion of the resort or construction of villas as there is a very high demand.
15 years ago, a German resort chain decided to build a 4 stars resort in Portugal, as this country is booming for tourism. They hired a local company to build a 44 resort rooms for a start, as the land may authorize further extensions with 20.000 square meters land in the sea shore, 50 kilometers from Lisbon. The German promoter was declared in bankruptcy and was unable to finish and pay the building company for a remaining amount due of 6 million euros. The building company in Portugal took the ownership of the resort and is now trying to sell it in order to recover liquidities. The price has been hardly negotiated since 2 years and Gold Coast resort was able to get an agreement to purchase the resort for a price of 3 million euros. The condition of the resort construction is not too bad as the Portuguese builder takes care of the main maintenance, but needs some refurbishment as it is an empty building aboard the sea and the maintenance of the builder is minimum. The basic construction is finished but needs now to have rooms accommodated and modernized and furniture provided at the level of a 4 stars resort, as agreed with the authorities. The computed investment for opening the resort is computed at 1.2 million Euros.
From our experience, a four stars resort in a touristic place in Europe is generally 170,000 Euros, meaning the value of the resort could be estimated to 6.8 million. The total investment of 4.2 million would bring the cost for a room plus opening expenses and cash-flow at 95,000 Euros per room. This estimation is a building price. Lands on the sea shore in Portugal raised to incredible prices and it would be much more expensive to build an resort now in the sea shore in Portugal because of the price of land.