Deal in detail Q&A
The following should cover the most frequently asked questions about
investment at the Carlton-Savannah Hotel. For other
specific questions please contact Nealco Real Estate in Port of Spain
What happens if hypothetically the hotel is unsuccessful?
Given the strength of the Port of Spain hotel market
and the experience behind the hotel operation and marketing,
this is an unlikely scenario.
However, the legal documentation for the development
is designed so that, should such a situation occur,
the property automatically reverts back to a normal
condominium ownership structure under the sole control
of the apartment owners.
While the Carlton-Savannah operates as a hotel any
cash flow short fall is the responsibility of the hotel
management company – not the apartment owner.
How do I know that I will get my rightful share of
the profits?
The hotel’s accounting is structured according
to the Uniform System of Accounts for Hotels – a
rigid coding of revenue and costs in use for one hundred
years in the international hotel industry and followed
by all of the world’s major hotel groups. All
accounts will be independently audited.
When is the profit share paid?
A profit share payment will be made firstly to apartment
owners, on a monthly in arrears basis, while the operating
companies’ profit share is paid annually after
production of the audited accounts. A return on
investment is guaranteed for the first two years.
Am I free to sell the apartment at any time?
At any
time after the completion of your purchase, you may
sell the apartment on the open market although the
developer reserves the right to match any offer and
purchase the apartment at that point. |
