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Has anyone done a "Buy-Out" of a small boutique hotel or resort?

Alyssa
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jak27

jak27

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Originally Posted by Mrs.B 2008 View Post
were they all in Mexico? if any were in Hawaii - let me know!
Actually, they were all in the Caribbean, and none in Mexico! We sort of ended up with Cabo after a very long 4 months of finding the "perfect" destination. Turns out we were making it too difficult and have always loved Cabo!

But Hawaii...sign me up! Sounds fabulous!
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Alyssa

Alyssa

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Originally Posted by PVBride View Post
Yes, I am! Let me know if you have any further questions! We are very happy with our choice to do this.

Molokai Lodge has 22 rooms and they are offering us a great buy out package - the only issue we are having is with the HUGE deposit. i am wondering what your deposit schedule is - if that is too personal that is totally cool!
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PVBride

PVBride

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Molokai Lodge has 22 rooms and they are offering us a great buy out package - the only issue we are having is with the HUGE deposit. i am wondering what your deposit schedule is - if that is too personal that is totally cool!
We had to put $5,000 down to reserve the hotel. The rest of the payment is not due until our arrival at the hotel. (An additional deposit of $5,000 would have been due 3 months prior to our wedding date, if no more than half of our rooms had been booked.)

Are your rates similiar??
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Alyssa

Alyssa

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We had to put $5,000 down to reserve the hotel. The rest of the payment is not due until our arrival at the hotel. (An additional deposit of $5,000 would have been due 3 months prior to our wedding date, if no more than half of our rooms had been booked.)

Are your rates similiar??
I wish!
the buy out rate for 2 nights with events is $20K. their contract asks for 50% of that within 30 days of the contract being signed (so approx 45 to 60 days from now!). then they want the other $10K in March 2008.

i am kind of freaking out about it - it is the only thing standing in our way righ now but $10K is a lot of $ to put down in 60 days!!!!

would you be willing to PM and swap contracts/proposals?
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