Crystal Investment Property, LLC, a licensed Idaho broker, exclusively represented the Seller in the sale. Joseph P. Kennedy, President of CIP, worked closely with the Seller and Buyer as well as lenders and other professionals, to negotiate a mutually acceptable sale. The final sale price was confidential.
In an age when travelers are used to being able to plan and book their travel with a quick search on their PC or a few taps on their phone, the world of meeting planning has remained largely a manual one. That is changing fast, however.
The first phase of development is valued at circa USD 200 million and includes luxury hotel The Vale Rusutsu and a bespoke onsen and spa facility. Additional phases scheduled for release in 2018 will include new retail and entertainment developments and further hotel facilities, estimated at circa USD 500 million.
NOVUM has partnered up with Commerz Real, as the proprietor, as well as GOLD.STEIN real estate M+E GmbH & Co.KG, as the project developer, for this project. The purchase was structured by Commerz Real as an asset deal in the form of a forward funding project.
The renovation will include the complete redesign of the resort's guestrooms, Beach Club, Golf Clubhouse and Sense, A Rosewood Spa, as well as enhanced meeting space and new food and beverage outlets and concepts. The property will reopen in April 2018.
Interessant Hotel & Resort Management, Orlando, FL
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