Harlequin Hotels, the company that owns Buccament Bay Resort in St Vincent has won a fraudulent misappropriation case against a former contractor at the resort.
Harlequin Hotels and Resorts said in a release last week that it had won the case against Padraig “Paudie” O’Halloran.
The High Court in Ireland heard that the contractor fraudulently misappropriated more than US$13 million from US$50 million sent to his firm for the resort’s construction.
“During the 31-day trial, Harlequin provided evidence and witness testimonies detailing how O’Halloran fraudulently misappropriated in excess of US$13m from US$50m that was sent to the ICE Group for the resort’s construction. Of the $13m that was diverted, more than $2m was sent to Ireland to pay for items including a lavish wedding. The Court also heard that sums were used to fund luxury purchases, such as a US$1.5m private jet, a racecourse in St Lucia, a car franchise business and renovations to a rented property on the Sandy Lane estate,” Harlequin said in a release.
Harlequin also stated that while the funds were being misappropriated, very little of the promised construction work was actually carried out at Buccament Bay Resort, resulting in the resort opening later than originally planned and on a smaller scale.
Follow the link to visit the now open amazing 5* Buccament Bay resort - LINK
Pat Cash, John Barnes and Rob Howley are amongst the sports stars still to coach on the 5* Buccament Bay resort in 2013
Pat Cash, John Barnes, Teddy Sheringham and Lewis Moody are just some of the legends from a range of sports who will be providing master class coaching to guests for the second half of 2013 at the luxury, all-inclusive Buccament Bay Resort in St Vincent & The Grenadines.
It's been an amazing first six months of 2013 for sports fans at the award-winning Caribbean hotel, with big names like Liverpool FC legend David Fairclough, Grand Slam tennis star Lee Childs, ex-England cricketer Ronnie Irani, and Wales’ rugby team coach Rob Howley already delighting guests; however, the next six months promise to be even better, so scroll down for a full list of the sporting legends who will be visiting Buccament Bay between July and December 2013!
Liverpool FC International Football Academy Soccer School
John Barnes: 14th – 18th July 2013
Liverpool FC & England international legend
Ronnie Whelan: 11th – 25th August 2013
Liverpool FC and Republic of Ireland legend
Teddy Sheringham: 23rd October – 2nd November 2013
Tottenham Hotspur FC, Manchester Utd FC & England legend
Pat Cash Tennis Club
Chris Wilkinson: 4th – 18th August 2013
Former British no.1 and Grand Slam player
Pat Cash: 18th August – 1st September 2013
Former Wimbledon Champion & tennis legend
Lewis Moody: 28th July – 11th August 2013
England legend, World Cup winner & former Bath RFC and Leicester RFC star
Rob Howley: 28th December – 6th June 2013/2014
Current Lions assistant coach; Wales & Cardiff RFC legend
Buccament Bay Resort Cricket Academy
Martin Bicknell: 26th December – 6th January 2013/2014
Former Surrey and England cricketer
Follow the link to reserve a room at Buccament Bay - BUCCAMENT BAY
Buccament Bay Resort on the island of St Vincent wins three places in Travel Weekly’s “Best Hotels in the World”
The Water Front Village at Buccament Bay Resort in St Vincent & The Grenadines.
Buccament Bay Resort is extremely proud to receive even more honours to add to the collection; this time, the luxury, all-inclusive resort in St Vincent & The Grenadines has been voted in the top ten best hotels in the world in THREE categories, courtesy of Travel Weekly.
The polls, voted for by travel industry professionals, ranked Harlequin Hotels & Resort’s flagship Caribbean resort in the top 3 for Best New Hotel, as well as top ten places in Best Family Hotel and Best All-Inclusive Hotel.
This comes after Buccament Bay Resort won two World Travel Awards for
Caribbean’s Leading New Hotel and St Vincent & The Grenadines’ Leading Spa Resort.
Such fantastic industry recognition for Buccament Bay Resort and Harlequin
Hotels & Resorts is testament to the great work of the resort team, the strides that the resort has taken since opening.
To book a holiday on Buccament Bay or to invest in one of the units please follow the link - LINK
Invest In Massive Yielding Property In The USA’s Largest Oilfield
With a potential 56% Annual Rental Returns OR a 25% guaranteed yield for 4 years.
This has to be the best investment opportunity of the 21st century so far.
Now available fractional units of either 50% or 25%.
Follow the link below to download a brochure on the Bakkan oil fields mini motel rooms or click on the link to be emailed further information - LINK
It is important when considering hotel investment that the hotel, operator and branding match the local area and market.
The Holiday Inn Express® London - ExCel, is located within London’s Royal Docks in East London – designated a “Special Enterprise Zone” in 2011.
The site of the hotel will be under a mile from London’s City airport.
The O2™ Arena can be reached in a few minutes and the hotel site is conveniently
located for tourist attractions such as the National Maritime Museum, Greenwich
Observatory and also Canary Wharf.
Central London is only 25 minutes away THE EXCEL™ CENTRE about 2.5 minutes’ walk away.
The hotel site is found on the waterfront in the centre of the Royal Docks. It was the UK’s first purpose built international convention centre boasting 100,000 sqm of exhibition space, opened in late 2000 and renovated and extended in 2010, which increased the capacity by 50%. It is used by blue-chip companies for meetings, AGM’s conventions as well as sporting and cultural events
LONDON CITY AIRPORT (0.5 miles) is just 3 miles from London’s financial district and is vital for business and plays an important part in keeping up with the growth of London. The business community recognizes the convenience of its location and size. In 2009, London City airport gained permission to increase flights by 50% and in 2011, British Airways announced a number of new flights while Blue Islands Airline announced the launch of its new executive service from the airport.
If you are looking for an arm chair hotel room investment in London this must be it.
50% non-status finance and prices from £135,000 on an RICS valuation of £161,000 combine this with the ideal location, exit strategy AND well-known operator.
LINK - to further information.
Chat show host invests in the 5* Buccament Bay resort on Saint Vincent in the Caribbean.
Link to the information page - HOTEL RESORT SALES
Why invest in a hotel resort?
Resort Unit Investments, when selected carefully, can be the perfect
‘passive’ investment – unlike traditional buy-to-lets, you won’t have to get
involved with red tape and form-filling, dripping taps and leaky guttering and phone calls from tenants on Christmas Day morning!
You can buy in at a low entry point…these investments are often
SIPPable – you can put them in your pension and enjoy all the tax breaks, especially if you are a 40% taxpayer!
Most hotel room investments come with a guaranteed rental return of 10% or so for the first couple of years – after that you could see returns at an even higher rate by enjoying up to 50% of the hotel’s earnings from your room – without having to lift a finger to get it!
Benefits of hotel room investments
The managed, turnkey nature of hotel investments allows investors to have a hands off approach to the investment. The hotel company will manage and market the room on behalf of the investor, because it is also in their interest to increase revenue. The investor benefits from industry professionals managing and marketing the hotel unit for them.
Also, investors are less exposed to long term vacancy as they would be in a traditional Buy to Let property investment which can lie empty for months at a time.
An additional benefit to UK investors is that hotel room investment is considered as commercial and not residential so it is possible to place the investment in a Self Invested Personal Pension (SIPP), which allows for tax free capital growth and earnings.
If the investor chooses to place their investment in a SIPP then they are unable to use the hotel room themselves unless they pay a market rate for use of the room, otherwise they would face investigation from the Inland
Revenue and Customs.
Resort investment incorporating Hotel rooms as a pension investment.
Hotel rooms are classed as commercial assets and are one of the very few property types allowed to be purchased directly by a pension/SIPP.
Investors can purchase a room through a Self Invested Personal Pension (SIPP) either individually or in a group and take advantage of the tax relief available upon the income and capital growth.
Resort details of the Caribbean investment - DETAILS
Details of the 5* hotel investment in Turkey - DETAILS
Information on the Scottish investment - DETAILS
General contact page - CONTACT
Investment Property Worldwide will try bring to you a diverse range of property, investment news.