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


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#11 JaimeLynne

JaimeLynne
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    Posted 14 August 2007 - 05:22 PM

    Wow, $10k is a lot for you to put down so soon! Are you just having your guests pay you then or how does that work??

    ~ Jaime & Martin ~
    "Rain or Swine! 2-0-0-9"

    We had 24 people attend our wedding in Las Caletas, Mexico on May 24th, 2009!

    We all stayed at The Marriott in P.V., and Honeymooned at The Royal Plantation in Ochos Rios, Jamaica!


    #12 Alyssa

    Alyssa
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      Posted 14 August 2007 - 05:54 PM

      Quote:
      Originally Posted by JaimeLynne
      Wow, $10k is a lot for you to put down so soon! Are you just having your guests pay you then or how does that work??
      i am not sure - that is what we are trying to figure out! if we book it, we will be liable for the buy out no matter who goes ... $20k

      #13 JaimeLynne

      JaimeLynne
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        Posted 14 August 2007 - 06:01 PM

        Quote:
        Originally Posted by Mrs.B 2008
        i am not sure - that is what we are trying to figure out! if we book it, we will be liable for the buy out no matter who goes ... $20k
        Personally I don't think I would feel comfortable with that.

        How many guests are you expecting? Have any confirmed?

        ~ Jaime & Martin ~
        "Rain or Swine! 2-0-0-9"

        We had 24 people attend our wedding in Las Caletas, Mexico on May 24th, 2009!

        We all stayed at The Marriott in P.V., and Honeymooned at The Royal Plantation in Ochos Rios, Jamaica!


        #14 Alyssa

        Alyssa
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          Posted 14 August 2007 - 06:03 PM

          Quote:
          Originally Posted by JaimeLynne
          Personally I don't think I would feel comfortable with that.

          How many guests are you expecting? Have any confirmed?
          i know ... it is really hard because even though there are some who are confirmed to go we still have to take it on ourselves

          a lot to think about!!! this is how i feel
          i swear i am starting to think about eloping!

          #15 JaimeLynne

          JaimeLynne
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            Posted 14 August 2007 - 06:17 PM

            Quote:
            Originally Posted by Mrs.B 2008
            i know ... it is really hard because even though there are some who are confirmed to go we still have to take it on ourselves

            a lot to think about!!! this is how i feel
            i swear i am starting to think about eloping!
            lol, don't worry - I think we've all been there at some point! It'll work out (eventually )

            Listen to your gut. If it feels like too much to take on maybe it's not the right place for you. Originally we were completely sold (like OMG LOVING IT!!!!) on Playa Fiesta (where PVBride is getting married). But, in the end we just couldn't risk the chance that we'd end up having to pay for whatever wasn't booked. It was soooooooo hard but we had to start looking elsewhere. We've now found a great other option that we hadn't even thought about in the beginning. It feels good to be excited about something else that feels more realistic (i.e. "doable") to us.

            ~ Jaime & Martin ~
            "Rain or Swine! 2-0-0-9"

            We had 24 people attend our wedding in Las Caletas, Mexico on May 24th, 2009!

            We all stayed at The Marriott in P.V., and Honeymooned at The Royal Plantation in Ochos Rios, Jamaica!


            #16 PVBride

            PVBride
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              Posted 14 August 2007 - 08:46 PM

              Quote:
              Originally Posted by Mrs.B 2008
              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?
              Oh, that sounds a little high to me! Our total buyout package will cost $31,775 for 5 nights. This also includes open bar all week, breakfast buffet each morning, two dinners, one food or beverage station and one entertainment selection.

              For us, our guests will each pay for their own room, and any leftover rooms are our responsibility. Also, all of our deposit money will be transferred to our wedding/reception costs.

              Yes, lets swap contracts...i will PM you mine right now!

              Jackie




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