Hello Thomas,
Please add me to Rossio group as well.
Thanks
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I’ve just created the group now!
You can join the Rossio Palace private investor group here.
Once you have joined you can access the private investor forum here and the private chat here.
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Thank you!
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Yes I would be curious with the research you conducted what were your findings?
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Yes please include me.
What route did you end up choosing?
Hi all,
Getting ready to commit and joined the private group but only had 2 responses. Does anyone have additional information, issues, concerns.
Hi Art,
I’m at the same point in the process. I am wondering how much due diligence is truly due diligence?
From what I’ve seen of the project as a whole, and the numbers, I like Rossio better than others I’ve seen.
Bill
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What experience do they have in renovation and hotel management?
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It seems that @djeker has done some due diligence, as they mention further up this thread; if I were thinking of investing, I’d carefully read what they had to say.
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My quick calculation was following:
280k x 98 investors = 27.4 mil
27.4 mi / 50 rooms = 549 k / room. This I thought most expensive than others I saw - (Mercan - PORTIMÃO PRAIA DO VAU - 504k/room, Rai Hotel - 373 k / room) , Earthhotel@porto 407k / room). But of course, quality of room can be differnet and location of Rosso hotel might be much better than others. (also maybe my calcaution is not correct. )
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Hi Sumi,
I was glad to read your post!
One tiny point: I believe there are 10 shares held back by the “sponsors.” I would guess that the target multiple for the investors would be 88.
Bill
My primary concern is the location. It in the middle of nowhere.
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Glad you think so. The calculaiton is the same. It does not matter who owns it . You basically owns1/98 = 1% of the hotel (regardless of who owns the rest - other GV investors or the developer) and the total value of the hotel is 548k each of 50 rooms.
We just completed investment and are awaiting one final document before application for GV. I found the developer to be responsive and given the uncertainties I felt they were more trustworthy than some others. Time will tell!
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I completed the Rossio paperwork in early May.
Having worked in hotel acquisitions in 2 previous jobs, I found my due diligence questions satisfactorily answered by Filipe who was very responsive.
My risk appetite may not be to your liking. But then again, it was not really to my previous employers’ liking. In my last hotel job, they found me not conservative enough, while the penultimate job found me too conservative.
The financial model worked for me, as the largest chunk of opex in the form of bulk discounts was recognized.
I didn’t look into the sensitivity analysis, so you’ll need to see how vigorous their projections are. The exit strategy’s success will depend on the state of the tourism environment, and I don’t have a crystal ball for that.
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Thank you lam, most helpful. Question as I’ve never know anyone who lived in Portugal visited this area before. Projection looks okay though
Mercan had a better buyback clause earlier, but the later contracts have a minor one-off payments if they dont buyback. So if you are in the earlier contracts, you are better off than if you contracted later. I guess who ever it is, we will have to collectively hold them accountable if they deviate.
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