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Frequently Asked Questions

 Q6. Is the Unit owner required to source insurance by themselves in order to protect their investment?

Insurances are sourced by the Hotel Operator and are shouldered under operating cost covered in the estimated 50% Hotel Operator’s share.

 

Q7. Can a Unit owner live in their property full time?

This project is for Investors only. You are required to enroll in the Condotel operations for a minimum of ten (10) years with further option available to the operator which he is likely to invoke to extend the term on expiry subject to mutual agreement as per majority vote of the Unit Owners Association.

Q8. When will be the declaration of dividends?

Quarterly or semi-annually, as may be mutually agreed upon with the Unit owners.

Q9. What are the considerations in determining revenues and dividends for Unit owners?

In order to maximize returns and ensure cost efficiency for Unit owners, only room revenues and room divisions related expenses are considered in the determination of income such as housekeeping, laundry, front office, security, repairs & maintenance, utility, taxes, and insurance attributable only to the Units. F&B income and its related expenses as F&B personnel, kitchen equipment, supplies, utilities, taxes, and insurance are treated separately from and independent of the room divisions expenses of each Condotel Units.

This setup assures the Unit owners a cost efficient operation as room related expenses are easily controlled and managed.

Q10. How will dividends be paid to the Unit owner?

Dividends are payable in checks to be mailed to Unit owners or paid directly to the bank accounts of Unit owners. Dividends will be in Peso currency. For foreign currencies, prior arrangement can be made with the Hotel Operator on a case to case basis.

Q11. Are there any other Condominium Association dues?

None. All expenses are charged to the Hotel Operator and part of the operating cost covered in the estimated 50% Hotel Operator’s share.

 

Your very Own Private haven in Paradise!

Experience the pleasure of ownership in one of most beautiful palces on Earth, Boracay Island. Ideally located at the central part of the island with the choice of 457 units and a handful of stunningly-appointed and nature inspired loft-type units, your resort offers the largest pool, and a signature theme bar and restaurant, and 1,800-capacity convention center. All provided by the expertise and style of service of Crown Regency Group of Hotels. With less than 5 years* on a full return of your investment, your paradise living is assured in Boracay.

Construction starts: NOVEMBER 2007. Target Completion: NOVEMBER 2009

*when condotel is operational and unit is fully paid

FOR INQUIRIES AND RESERVATION, please contact:

Ms. JULIE LABITAG

+63917-805-3429

email: jplabitag@gmail.com

Yahoo Messenger: julier_21