European Village Status – Report of Sale Incorrect
Integrated Resorts makes great progress in only one month after taking over resort operation but has not purchased European Village
August 18, 2007 –
Integrated Resorts has made much progress since taking over the operations on July 16, not the least of which has been an upgrading of the facility’s landscaping. An entirely new staff has been hired to operate the hotel and new computer systems and software are functioning.
The main building at the former Players Club has been leased to Synergy Health Systems, who will operate a health and fitness center there. Four tennis courts will be available for play. The swimming pool has been resurrected and will open soon. The renovation of the tiki bar at poolside is nearly completed. Integrated Resorts plans to offer local memberships in conjunction with Synergy Health Systems. The facilities will also be available to
In a bid to raise the local awareness of
Double talk continues at EVR
Your article concerning the incorrect information as to the sale of EVR may be correct after all. How can some one purchase a property in two weeks with over 35 known liens with more lawsuits to come, and some $6,500,000.00 attached value to those liens. The pool and spa are in foreclosure with a $4,500,000. in liens and lawsuits.
Unless they are putting up $11,000,000.00 cold cash to get title and then additional working capital to manage and run what, a front desk with no rooms, save roehr’s nine rooms, after liens, past due assessments, taxes, attorneys and foreclosure bills are paid. Thats minimumally $12,000,000.00 with nine rooms to earn. ROI is negative unless they are fully booked and rent the rooms for $10,000.00 a night. In other words, it is not happening.
The new managing partners were interviewed and gave the first version but now are retracting. They continue to classify OUR condominiums as a hotel which confuse potential buyers and financinal institutions.
I continue to receive informational literature from local real estate agents with comments, \” the new owners of European Village are looking to purchase your units\” and to remake the hotel. It NEVER was a hotel in the first place. Yes, they may want to purchase but beware at 20 cents on the dollar.
These people MAY have leased the right to run the lobby and coutyard, nothing more and have NO authority nor are they part of either the residential or commercial Association Boards or membership.