COCOS Hotel and Keyonna Beach Resort Expansion Begins 2021

8
Andrew Michelin

A rare investment opportunity totalling $130,000.00 Eastern Caribbean dollars will allow interested persons to be part of the evolution of two of Antigua’s most popular accommodations.  COCOS Hotel and the Keyonna Beach Resort will be gain thirty new cottages as part of an expansion project to begin in 2021. Ten cottages will be allotted to COCOS Hotel while the other twenty will be to Keyonna Beach Resort.

 

The Cottage style experience began as a five Cottage project, a simple eight table restaurant, and a mahogany tree. The aim was to enhance guests’ dining experience and support their need to feel completely at ease within our Caribbean setting.  For the Keyonna Beach Resort, this expansion includes adding 600 feet of beachfront property, previously known as Blue Heron.   Andrew Michelin, of Alpha Hotel Investments says “the addition of these thirty Cottages will increase employment opportunities, assist local farmers, and contribute to the cashflow in the economy as restaurants and businesses in the area will also be supported by visitor traffic.”

 

Despite the effects of the global Pandemic, Michelin says “revenue for COCOS Hotel has been better than the same time in 2019”.   He adds, “the surplus in demand clearly shows, now is the best time to reenergize and expand.” The high demand for the unique low density, Caribbean style boutique accommodation for which these properties have become popular has made it necessary to take this initiative.

 

With over 40 years’ experience managing resorts in Jamaica, St. Lucia and Antigua, Michelin has to date, successfully designed, built, opened and operated four hotels in Antigua COCOS, Cocobay, Hermitage Bay and Keyonna Beach.

 

Investors can expect to receive 8% interest per annum in U.S. dollars on their bonds by the end of 4 years when the investment will be reimbursed in U.S. Dollars.  Interested persons may get more information by e-mailing  andrewmichelin@alphahotelinvestments.com.

8 COMMENTS

  1. Just curious when the construction is planned to be started/finished at Cocos Hotel. Will there be a disruption for the guests staying at your hotel, as we have a trip planned in 2021. Any input would be appreciated.

  2. I heard him buss up some dialect during an interview lol. And now to see the face behind the voice is even more amusing. Good luck to you Sir. All the best. God bless.

  3. It is not right for individuals to come to the public like this to solicit money. These must be regulated registered businesses that can do this. We need some rules and some trust that go with it. And in my opinion oversight from the FSRC. If CoCos is looking for investment capital which I can see they prefer not to go to the bank they should go on the Regional Security Market or a license broker. People need to see some prospectuses or some audited financials. And they need to be educated and know exactly what they are getting into. This could be good investment but it is not sold the right way to the public. I know Mr. Michelin from the day he came to Antigua and like always what locals fail to do he did. Not with much money, but he got it done. For that I applaud him. My hope is that one day Antiguans and Barbudans wouldn’t be that risk averse. We have all the ingredients here to create wealth but we leave it up to others that come from abroad to do so. And then we get jealous and wonder why we are losing power in our own country. Anyone seen the Cottages from Barbuda Bellle. If I’m correct just about six. Yet it caters to the wealthy. Just to be away from the hustle and bustle of the city live. It’s like paradise. You think Barbudans don’t have that kind of money to build something like that? Oh yes, Trevor alone could have done that. But guess what, they rather leave their money in their saving account and the complain about no money and no investment in the Island. And I want to make a distinction between owning a property and managing that property. The government owns Halcyon Cove Hotel but they are leasing it out. So too Antiguans can put money together to own properties but have hotel management firms run them. Jumby Bay hotel is run by a Hotel Management company.

    • The law on this is once the investor pool is low (i think less than 10 will double check) there is no need to go to the regional market. The Eastern Caribbean Securities Regulatory Commission,” regulates this all not the FSRC (think back to when OMG tried) Yes regardless, a prospectus is a must. Also regulators would more get involved especially if you are marketing to persons who are not investment savvy. They see it as their duty to protect especially persons who would most likely not understand the risk. You are on the ball in terms of getting locals to make investments. You are also right about ways to do this without needing to spend billions. Hope I can call on you

      • I understand that the FRSC is presently not the one regulating small local investment companies, but my suggestion is that they start doing so. To give more a sense of trust and security to the public. Like a consumer protection agency for local investment. The banks are not giving depositors more then 2-3% on savings these days. And they are not offering other investment opportunities. When that happened in the late 90s, Clico went through the Islands and offered about 8 to 10%. The only sad thing is that the regulators and the politicians failed us. Not only here but in the USA as well. And many lost their hard earned savings. Therefore we need to setup strong regulators that look out for our business. Entrepreneurs need to have investment capital other than what the banks offer. Actually many need equity financing and not debt financing. If they take debt financing it should be with very long term moratoriums or like Michelin and the Government do Bonds. This form of financing do not bring that much stress on the company’s finances. Especially startup businesses cannot take debt financing. Startup Capital is to carry over the teething period or incubation period of a company. Some are as long as four years. The only thing is that Owners/Entrepreneurs will have to give up some independents of their decision making in their company. As investors would want at least to have a director on the board looking out after their interest. And Audited Financial reports have to be provided quarterly without delay. You cannot wait a whole year to report on your company’s performance. You see the same thing on the stock market. Investors are waiting for the quarter reports to determine if to sell or to hold on to stocks. The Prime Minister’s Entrepreneurial Fund is a big step in the right direction, but it falls short of being an equity investment. And it’s for real small and micro businesses. Anyay as I said I think Mr. Michelin means well. Antiguans need to wake up stop being risk averse. And perhaps the banks can divest some of their savings with the approval of some of their customers to establish venture Capital for businesses. I was in the process of preparing Bank of Antigua for that. Stanford was going to put in the same amount that he put in ABDB $10Million. And I was going to approach depositors with savings over $1million to place some of their funds in these vehicles, with us making certain guarantees of oversight of the companies in which we invest. You know the money that was invested through the ABDB got lost. ABDB is waste of time. Should be shut down. Or properly staffed with professionals and of course capitalized.
        What I don’t understand is why our banks are placing so much money in American Banks in various investment portfolios with the same and sometimes more risks of losing their entire investment. But they are not willing to do the same in the economy where they do their business. Which means they are hardly contributing to the growth of the economy. They are assisting the US economy with our monies. Something is really wrong with that picture

      • One more thing Tenman, When I used to live in Europe my bank manager used to monitor the accounts of his customers. One day he called me and told me he would like to see me. When I went in he had a complete analyses of my accounts over the last four years. He showed me how much my average saving balance was nd how much my over checking account balance. He told me my average monthly spending and then he said I could make much more money and gave me some options. Some very conservative and some more risky. he said given I want to make no less than what I made over the last four years he will put some in a fix CD of 5 to 10 years and some in some mutual funds that could bring an average of 25% return per annum. I mean that is when I learned that you could make your money work for you and that your banker should not just be there to charge you bank fees and pay you low interest, but assist you to make more money. Perhaps the government needs to put a levy on monies that are not reinvested in the economy. So if you have interest income on savings account of 2-3% the government charge you a levy or tax of .05% on every amount over lets say $1000.00. Perhaps that would encourage people to take some sort of risk to reinvest in some manner in the economy. Money should circulate and not remain stagnant.

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