TARGET MARKET Executives/ Directors Business Owners OFWs Retirees
INCOME DISTRIBUTION OF THE ILONGGO MARKET A E 5% D 15% A 12% B PHP 250,000 and over PHP 100,000-249,999 B 40% C 28% PHP 60,000-99,000 C PHP 40,000-59,000 D E Under PHP40,000
ILOILO AS TOURISM INVESTMENT A Tourism Gateway In Western Visayas Lies in the very heart of the Philippines. Has one of the best airports in Asia. 50 min flight from Manila; 25 min flight from Cebu Offers Domestic flights to Manila, Cebu, Davao, Cagayan De Oro, Gen Santos, Puerto Princesa International flights from SG, HK, Korea, LA
WHY INVEST IN ILOILO? Western Visayas has 128B Tourist Receipts 5.8M Tourist Arrivals Multifarious Festivals Goldmine of Tourist Attractions Iloilo City is a MICE (Meetings, Incentives, Conventions, Events) Destination
7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 0 2011 2012 2013 2014 2015 2016 2017
8,320
WHY INVEST IN BHI? Worry free investment - Global One Hotel Group, Inc. will manage the hotel s leasing, marketing and maintenance. Consistent revenue - Belmont hotel unit owner will be entitled to a share in net room revenue whether his unit was actually rented or not. Guaranteed Return on Investment - Ability to generate passive income through quarterly dividends
WHY INVEST IN BHI? Perks and Benefits - The hotel unit owner can avail a total of 30 free room nights privilege with a maximum of 10 free room nights per visit. - Includes complete access to Belmont Hotel Iloilo s amenities and services Accessibility - Located at the heart of Iloilo Business Park
Your Investment in Belmont Hotel Unit Owner Condominium Certificate of Title (CCT) Tax Declaration (TD) Deed of Absolute Sale (DAS) Hotel Guest Will enjoy 30 complimentary room night privilege Max. of 10 nights per stay Privilege is assignable Investor Will receive share in the net room revenue
FREQUENTLY ASKED QUESTIONS in the NET ROOM REVENUE When will I receive it? How will I receive it? How will I ensure I get a fair share?
When will I receive it? Per Contract: Within 120 days after the close of each operating year, Lessee shall cause the operator to issue an annual operating statement summarizing the reasonable detail of the operations of the hotel Lessee shall within sixty (60) days from completion of audit, remit the rent due to the leased premises to the lessor.
HOW WILL I RECEIVE IT? By way of check payable to the lessor For two or more unit owners decide to whom check will be made payable
HOW WILL I ENSURE I GET A FAIR SHARE? AUDITOR: Punongbayan and Araullo (P&A) - the Philippine member firm within Grant Thornton International Ltd, one of the world's leading organizations of independently owned and managed accounting and consulting firms.
HOW DOES BELMONT HOTEL OPERATE? The Belmont Hotel Iloilo will be operated and managed by., A company dedicated to managing Megaworld s hotel and leisure portfolio, either by itself, through a subsidiary or affiliate, or through a third party. WHAT IS A LEASE AGREEMENT? By the lease agreement, which unit shall then be included in a pool of condominium hotel units to be made available to paying guests for use as hotel rooms.
WHAT ARE THE TERMS OF THE LEASE? The lease shall be for a period of, commencing on the date on which paying guests are first admitted to the hotel by the hotel operator, and ending 15 years thereafter (the initial lease term ). The lease under the same terms and conditions contained in the lease agreement. WHAT IS THE ADVANTAGE OF ENGAGING A HOTEL OPERATOR TO MANAGE THE OPERATIONS OF BELMONT HOTEL? THIS ARRANGEMENT GIVES THE BELMONT HOTEL UNIT OWNER A INVESTMENT BECAUSE THE HOTEL OPERATOR MANAGES: the leasing of the hotel rooms/units the maintenance, refurbishment and improvement of the units the operating expenses, real property taxes, common charges, utilities, insurance and other related expenses an independent auditor, belonging to the top 5 auditing companies accredited with the Philippine securities and exchange commission, will be hired to audit, examine or review the hotel operator s annual operating statement.
WILL THE UNIT OWNER STILL EARN IF HIS UNIT IS NOT RENTED?, Belmont hotel unit owner will be entitled to a share in net room revenue whether his unit was actually rented or not. Under our system, the unit owner shall have a percentage share in the share of the pooled units in net room rental revenue. Remittance of the unit owner s share shall be done by the hotel operator on an annual basis thru a check payable to the unit owner. CAN THE UNIT OWNER LIVE IN THE PROPERTY FULL TIME? The unit owner may occupy for personal use, a hotel room for 30 room nights per operating year. Room may not be the exact unit purchased.
WHEN DOES THE UNIT OWNER GET HIS OR HER 30 FREE ROOM NIGHTS PRIVILEGE? The 30 free room nights privilege He just contacts the hotel for advance booking. If a unit is turned over and included in the pooled units after the start of an operating year, the unit owner shall be entitled only to a pro rata number of room nights corresponding to the remaining period of the operating year. THE AVAILMENT OF THE FREE ROOM NIGHTS PRIVILEGE SHALL BE MADE UNDER THE FOLLOWING CONDITIONS: The 30 free room nights shall be ; The unit owner may be allowed to avail up to per visit; All bookings shall be subject to room availability except during peak periods and/or close-out days. Traditionally, new year s eve, Chinese new year and convention periods are peak periods. This policy is created so that many hotel guests as possible can be accommodated during the peak periods of hotel operations, in order to maximize returns for the investors/unit owners.
CAN A UNIT OWNER USE HIS 30- DAY FREE STAY FOR MORE THAN ONE UNIT AT THE SAME DURATION? it will be allowed subject to room availability. If there is a projected or actual over supply of rooms on the dates the unit owner wishes to book, it would be fine and provided it does not exceed the maximum stay of 10 free room nights per visit. IF THE CLIENT USES HIS 30 FREE ROOM NIGHTS, WILL THE UNIT/ROOM THAT HE WILL USE BE OF THE SAME SIZE AS HIS UNIT? The free room night of a unit owner will correspond to the type of room he has purchased, subject to availability. If his room category is not available, he may choose to reschedule his use of the room. Another option will be to either book a higher room category (with extra charge) or a lower room category.
IF THE CLIENT OWNS, LET S SAY 5 UNITS, DOES IT MEAN THAT HE HAS 150 FREE NIGHTS? DOES IT ALSO MEAN THAT HE CAN STAY FOR 50 NIGHTS PER VISIT? There is a 10-day maximum cap per visit in availing room nights. In this case, the unit owner can use the entitlement per unit for 10 days each to make a total of 50. CAN THE UNIT OWNER TRANSFER THE RIGHTS OF THE 30- DAY STAY TO ANOTHER PARTY? YES, the unit owner may designate any other person as his guest to avail of the 30 free room nights privilege. The unit owner simply has to fill up an endorsement form, which will be subject to room availability, booking confirmation, and all other availment conditions mentioned earlier.
CAN THE UNIT OWNER STILL RESERVE A ROOM AFTER HE IS ABLE TO USE UP TO THE 30 FREE ROOM NIGHTS PRIVILEGE?, he may still book a room beyond the 30 free room nights privilege, this time as a regular paying hotel guest and after the usual advance booking. CAN THE UNIT OWNER USE THE AMENITIES OF THE HOTEL EVEN AFTER THE 30 FREE ROOM NIGHTS? Just like any other hotel, the amenities are. DOES THE UNIT OWNER HAVE THE OPTION OF SELLING HIS HOTEL UNIT?, however, the Should the hotel operator waive its right of first refusal over the unit, it can be offered to the open market at the same terms and conditions offered to the hotel operator. The transferee will still be bound to honor and respect the lease agreement signed by the previous unit owner.
WHAT IS THE TIME FRAME FOR THE RIGHT OF FIRST REFUSAL? HOW LONG DOES THE UNIT OWNER HAVE TO WAIT FOR REPLY OR DECISION? The unit owner shall send to the hotel operator a written notice of its intention to sell the unit. This notice shall include the price and all the other terms and conditions at which the unit is being offered for sale by the owner. Within 30 days from receipt of the said written notice, the hotel operator shall inform the unit owner in writing whether or not it intends to purchase or acquire the unit upon the terms and conditions provided in the unit owner s written notice.
WILL THE PROPERTY BE COVERED BY INSURANCE? As mentioned earlier, insurance is part of the deductions from the gross revenue. Commencing on the opening of the hotel and for the duration of the effectivity of the lease agreement, the hotel operator shall procure and maintain on behalf of the owners a property insurance on the common areas of the project and the pooled units as is customarily maintained for comparable hotels. The hotel operator is also deemed authorized to procure and maintain, at its discretion other insurances as is customarily maintained for comparable hotels to cover standard operational risks.