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Overseas Property News
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Apart-hotels still good investment, says agent
Country: Egypt; Panama; Philippines; Portugal; Seychelles; Thailand; UAE
9 October 2008
Despite the fact that hotel room investor, Guest Invest, went into administration last week, Alistair Powell of 7CI remains confident that apart-hotels are still a secure investment.
In 2004 GuestInvest introduced a new investment asset class to Britain: the buy to let hotel room. It offered investors the opportunity to buy a luxury hotel room in return for an annual rental yield. However, the company has since run into financial difficulties. Nevertheless, the investment model still remains a popular one overseas.
Powell comments: “Guest Invest bought glamorous properties solely in central London at the height of the market, invested heavily in their redevelopment and then gave away half their income. The company’s business model was simply not sustainable; the concept of buying a luxury hotel room and staying there for up to 52 nights a year for free and receiving a rental income is fatally flawed because it eroded income. Operating costs remain the same whether it was a paying guest or the owner staying in the room. The company was giving away half its income through free rooms, but its running costs were a further drain on profitability.
“While the demise of Guest Invest is a great shame for the industry and the company’s investors, given its flawed business model, it was somewhat inevitable that the company could not sustain its current business model in this tightened credit market.“
“7CI's business model is distinctly different - we are an independent global investment company with a diverse portfolio. We do not attempt to be everything to everyone; instead, we are experts in investment and we work with a variety of carefully selected market leaders in apart-hotel development and tourism management from around the world. We are meticulous in our selection of the investment properties offered by leading companies such as Banyan Tree, Marriott, The Trump Group, Raffles and Intercontinental. We choose to work with companies whose developments offer robust investment rationales, high yields and no operating deficits.
7CI are currently offering investment opportunities in Panama, Philippines, Thailand, Seychelles, UAE, Portugal and Egypt.
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