Moving optimistically to roll out the upscale lifestyle community, Villa Ronai Destination Spa in its Blue Mountains location, Pulse Investments Limited, last week, requested tenders for three new restaurants, a fitness centre with eco-trails and complimentary services, occupying some 12,000 square footage of resort space.
The project, which was originally slated for opening by yearend or early 2010, includes space for which rent is in the "vicinity of US$12 per sq ft, per annum, but, given the times, we are offering a 50 per cent discount for six months, so as to support business start-up," said Pulse's Chief Executive Officer Kingsley Cooper, who began his operations in the beauty pageant and modelling field before branching out to tourism in his 16th year of business.
Business opportunities in Villa Ronai include restaurants, spa, lounge, gift shop, a patisserie, a boutique, function areas, gym, yoga and fitness centre.
Eco-trails also form a part of the development.
Million-dollar project
The units are part of a larger 30,000 square foot property, which cost Pulse $145 million to construct, financed in part by internally generated resources and a $127-million rights issue that cost the company $6.8 million to raise.
Restaurants for lease include two with average space of 2,400 square feet and which should rent in the region of US$30,000, before discount.
Cooper says rental payment is due only after lessees are set up and ready for business.
"Ideally, we are looking for tenants/operators who have a proven track record in their areas of operation and who are capable of providing outstanding service to the market segment we are targeting for Ronai. This is the upper-mid to up-market segment, both local and international."
Cooper is going after celebrity patronage, but says Villa Ronai will not confine its market to their support.
He expects that Ronai will open to the public in the first quarter of 2010, pushing back the timeline by three months.
Second phase
A second phase of the project will add 40 or more suites, positioning the company to market itself interna-tionally as a destination spa.
This phase, Cooper said, will not come on stream for another three years, again signifying a roll back of expectations beyond the former 2011 implementation date.
"By then, we expect the recession would have been behind us and our international markets will be receptive, especially the European market," Cooper said.
"The world is now moving towards the kind of mountain top, green, eco-friendly, tranquil and rejuvenating environment, which Villa Ronai offers, at a faster pace than any other type of destination experience, including the traditional sea and sun variety."
Villa Ronai's positioning in the hospitality market comes alongside a decline in cash sponsorships for the beauty pageant segment of the modeling agency's business mix.
avia.collinder@gleanerjm.com