USD 605,000,000
Spent so far: USD 3,000,000
Can spend more: Yes
Mexico
Assured repayment by: Independent and credible feasibility study | Operations & Management Agreement
Submission Ready Indicators:
LTV Expectation: 100%
Land/Site: Sale/lease agreed
EPC Contracts: Signed
PPA/OMA or other off-take agreements: Signed
Financial Projections: Completed and available
PK, a stunning, 5-Star luxury resort will cater to a global destination vacation/holiday group known as ‘Consensual non-monogamous couples’. The resort will target a very affluent lifestyle group which is vastly underserved, at a level of luxury that is very much in demand. The planned PK resort village, positioned as upper-upscale / luxury – will become the global choice destination for the approximately 52 million targeted couples. PK, a resort development company, is requesting debt funding of $605M (USD) to develop a +1,000 key All-Inclusive 5-star luxury (CNM / “Lifestyle”) resort property plus+500 condos on a 200-acre site located in Puerto Morelos, Riviera Maya, México (“Resort”). Comparable, but differently positioned ‘adults only’ resorts are outperforming mainstream properties by a wide margin in terms of occupancy and Average Daily Rate and hence overall profitability & return on capital. The sponsors of PK have set up a remarkably-strong team with a core group of experienced hotel & hospitality operators, marketers, entertainment leaders and other field experts. A former Cirque de Soleil art director will be a core contributor on the Entertainment and Artistic side. All together they will lead both the operational set-up and management of the Resort.
| USD | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 |
|---|---|---|---|---|---|
| Turnover | 94,317,815 | 109,116,775 | 118,059,408 | 147,470,551 | 157,804,801 |
EBITDA | 38,096,261 | 42,389,660 | 48,240,260 | 61,901,672 | 66,804,801 |
% | 40% | 39% | 41% | 42% | 42% |