The Cove
In order to create an opportunity to extend the Cove project and provide much needed keys owing to the high occupancy of the operating resort, Kenetic International developed alongside Orascom a concept of hotel room ownership with residential title in order to facilitate the sale and funding of 150 new hotel keys within existing building shells.
Kenetic put together the feasibility assessment contemplating all parameters of the project from inception to delivery with best and worst case presentation and based on research and preliminary bid collection for the construction of the project itself.
Sadly this project never made it to market as an investment opportunity, but this was good news for our client who decided in the end to develop the project themselves and retain the properties under their ownership for operation.
Client
- Orascom Development & Rotana
Project Location
- Ras Al Khaimah, United Arab Emirates
Key Facts
- 150 key hotel extension
- USD 30 million project
- Personal hotel room ownership
- Addition to existing operating Rotana Resort
How we created an innovative sales product for this development
Thinking Outside the Box
Instead of seeking the traditional sources of hotel development funding, Kenetic created a concept to add value to the resort in securing the construction income whilst simultaneously reducing future risk for the developer and operator.
Running the Numbers
We undertook a financial assessment of the opportunity from the developer and customer perspective respectively in order to ascertain the viability of a product and what would appeal in the marketplace from a big picture perspective.
Website Creation
Kenetic put together a templated inexpensive pre-launch website for an initial opening to the market in order to have an incredibly quick launch before the full marketing package was developed. (See top slider for web samples)
Pre-Launch Collateral
Kenetic compiled initial pre-launch collateral for an early off-market approach to potential investors in the project including an intro flyer / mailing in addition to an investment memorandum.
What’s going on at The Cove?
Kenetic Appointed for Cove Extension
Kenetic International have been appointed to develop a concept to facilitate a 150 key extension of the Cove, Ras Al Khaimah.