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Hawks Cay Sold

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Old 12-27-2006, 08:59 AM
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Default Hawks Cay Sold

looks like there will be some major improvments wonder how it will affect my condo value/sale

This was a letter issued to condo owners in the hawks cay rental program

Please be on the look out for your Annual Meeting package which will be mailed next week. The meeting is scheduled for January 27, 2007 at 9:30 A.M. in the Conference Center at Hawk's Cay.

Many of you have had questions regarding the future of Hawk's Cay. I do have an update for you.

Northview Hotel Group, LLC, an owner and operator of hotels, has formed a joint venture partnership with a real estate investment fund to acquire the Hawk's Cay Resort from its current owner. The sale is due to close towards the end of the first quarter 2007, following which Northview will manage the property on behalf of their venture, while overseeing a significant renovationof the hotel and its associated amenities. The current budget for this work is in excess of $25 million.

Northview is currently in discussions with several hotel companies about branding the resort. Northview's goal is to enhance the rate and occupancy achieved by the hotel and those villas that are in the Hawk's Cay Rental Management Program. Northview believes that the introduction of an upper upscale brand for the resort will be a key factor in helping achieve this goal.

Northview is currently working on its plans for the renovation of the resort and its $25 million plus investment for the proposed upgrades. Northview has indicated that they are also working on a strategy to create a more integrated product with the villas and the hotel, which should result in a significant benefit to the villa owners, as a result of the growth in rate and occupancy that should be achievable when the current resort product is enhanced as planned.

The Board of the Homeowner's Association will be inviting Northview's and the venture's representatives to our Annual Meeting next month. Northview has told us that its representatives look forward to meeting as many of the villa owners as possible at this meeting and hope they will have the opportunity to present you an overview of their plans and the exciting changes they are proposing for the resort. Northview is also planning to provide as much time as needed to answer any questions you may have.

I have shared with you all of the information I have at this time. I hope each one of you will be able to attend this year's meeting.

Happy Holidays

Michelle Koby
General Manager
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Old 12-27-2006, 06:01 PM
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Default Re: Hawks Cay Sold

Hawks is already one of the premier destinations in the Keys so hopefully it will be nicer after the remodel but it is also very expensive now so are they trying to make it ultra expensive like Ocean Reef? The keys are getting so expensive that the Bahamas are starting to look cheap in comparison and for most in S. FL the Bahamas is closer!
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