The Resort Group PLC was incorporated in 2007 by Founder and Executive Chairman Rob Jarrett, having started his career in banking and established a wealth of experience within the financial services industry. He then translated this success into the overseas property market, selling millions of Euros of luxurious properties and developing a number of high quality touristic destinations.
The Resort Group PLC was created as Rob focused his attention on new development and hospitality opportunities. Based in Gibraltar, and with support offices in the UK and Cape Verde, The Resort Group PLC has quickly established itself as one of the most respected and ground-breaking property development brands in the overseas market.
TRG GROUP IN NUMBERS
Established 2007. Over 11 years in operation.
IN DEVELOPMENT PROFITS
The Resort Group PLC enjoys working alongside the best brands in the world to provide the most reliable service, the best investments and truly 5-star all-inclusive luxury.
The Resort Group PLC are recruiting sales agents to help sell our 5-star property developments in Cape Verde.
THE CAPE VERDE
The Cape Verde Foundation was founded by The Resort Group PLC to make a positive contribution across a variety of projects in Cape Verde.
The Resort Group PLC has been in business for more than 10 years, with a history of strong financial performance and corporate governance. The Group has generated over €450m in development revenues and over €200m in development profits. The Group has now delivered 2,142 hotel rooms, suites, apartments and villas across 5 operational Resorts, with retained assets valued at €140m.
Given the positive tourism trends in Cape Verde, the underlying tour operator guarantees a growing hotel and resort portfolio, the future outlook for The Resort Group PLC is set to be positive and stable.
Cape Verde is politically stable with sound democratic institutions and a strong legal framework based on Portuguese law. The government has consistently encouraged foreign investment and fostered a dynamic business environment.
A significant risk for any developer is the availability of land. TRG is no longer exposed to site acquisition risks because it has already acquired (on a freehold or option basis) the land required for all of its planned projects.
There is negligible planning risk because TRG has secured outline planning consents for future projects. It provides significantly more detail than required to reduce the work involved in moving from outline to detailed consent.
TRG manages the risks associated with construction, occupancy and operating costs by negotiating contracts with strategic partners that are subject to performance standards. The group also employs experienced industry professionals to oversee the output of chosen partners.
This risk is mitigated by TRG’s significant focus on diversified routes to market and in its strong relationships with third party agents and introducers, both in the UK and internationally. These involve corporate bonds, a specialist professional investor fund, exchange-traded products listed on the Dublin, Frankfurt and Channel Islands stock exchanges as well as a crowdfunding platform.
TRG considers currency risk to be very low. Its activities are based predominantly in euros with some costs in Cape Verdean escudos, which are pegged to the euro.
Leading tour operators are confident of the country’s future. Cape Verde has a number of unique attractions including its climate and political stability, and is growing in popularity with tourists.
Although TRG’s existing property portfolio is located in Cape Verde, it will soon achieve further diversification through a presence on multiple islands, with further aspirations to spread into European holiday destinations.
TRG’s legal team closely monitors, as much as possible, proposed changes in regulation, to ensure that the Group is involved in key decisions regarding the mitigation of those proposed changes. In Cape Verde, TRG is one of the largest tax generators in the country. The Group benefits from a strong relationship with government authorities, which ensures it is involved in key decisions regarding potential regulatory changes.
Cape Verde is a growing economy, hugely driven by tourism. Tourism growth is directly correlated to the capital growth of real-asset values, particularly in hotel or Resort-based real estate. The World Travel and Tourism Council claims that the total contribution of the Travel & Tourism sector to GDP in Cape Verde was 44.5% in 2016. This is forecast to rise by 8.6% in 2017, and by 6.5% pa to 57.3% of GDP by 2027. Visitor exports are a key component of the direct contribution of the Travel & Tourism sector, which in turn drives hotel real-estate asset values. In 2017, Cape Verde visitor numbers are expected to grow by 11.1% to 578,000 international tourist arrivals. By 2027, international tourist arrivals are forecast to total 728,000, an increase of 5.8% pa. The Resort Group also offers a resale option where it agrees to market the property for sale at no less than the nominal value. This offers a further layer of protection if the anticipated market drivers do not positively impact on real-estate growth.