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Skyflower Hotels, Belize

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Skyflower Hotels,Belize & Central America

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Skyflower Hotels, Belize

  1. 1. Sky Flower Hotels Limited Investment Opportunity Overview Nicholas & Shannon Davies NOVEMBER 2015 Confidential
  2. 2. Investment Proposition - the concept Sky Flower Hotels  Opportunity to invest in the flagship property of the first Belize- wide hotel brand aimed at small boutique, mid-priced market with clientele from North America, Europe and the region  Subsequent potential build-out into the rest of Belize and ultimately into Central America  Key brand drivers:  high visibility location; single unit properties  high price/value positioning  signature roof top pool/leisure concept  conference banqueting & event spaces  appealing to leisure, business and domestic travellers  marketing will include brand loyalty programme  sales driven through: online travel agencies, offline travel trade providers, direct website sales and sister travel companies Confidential
  3. 3. Investment Proposition - capital/funding requirements Sky Flower Hotels  Phase 1 2018-2019 – Flagship Property – San Ignacio  Project cost including contingency and initial pre-opening operating costs – BZ$9.7m  Funding requirements  Loan – BZ$4,500,000 (agreed with local development corporation)  Preferred Equity – BZ$3,500,000  Common Equity – BZ$2,000,000 (to represent 45% of common equity)  Preferred equity will be have a 6% cumulative dividend and will be callable at 4% premium from 2020 onwards. Confidential
  4. 4. Investment Proposition – project delivery Sky Flower Hotels  Leadership by brand founders and owners – Nick & Shannon Davies;  Nick (CEO) – British/Belizean - 35 years European, Carribean, North, Central & South Amercian hotel management, hospitality association and marketing experience  Shannon (COO) – Belizean – 15 years Belizean hotel and business management experience  Abner Valladares (CFO) – Belizean – 13 years accounting and financial management experience in top Belizean resorts  Prospective key project consultants  Design: WATG, USA – the world's leading design consultancy for the hospitality, leisure and entertainment industries  Hospitality Training and Quality assurance: Freeman Group, USA  Constructor: Caribbean Engineering, Belize - most recent Belize tourism project - Black Orchid Resort – river front suites – 2014  Financial: Legacy Funding td, Belize City – Capital Raise and Placement Confidential
  5. 5. Investment Proposition – project partners and affiliations Sky Flower Hotels  Sister travel and hospitality businesses owned by Nick & Shannon Davies (developed and currently operational - 2009-present)  Darah Travel – Belize destination management company (DMC)  Darah Transfers and Tours – Belize provider of transportation services  Pure Belize – founder & regional partner of Pure Central America – regional DMC  Suriname Travel Services – Regional DMC for South America and South Caribbean  Belize Hotel Management – regional hotel management services  CleverNSmart – International Hospitality consulting  Memberships and affiliations:  Latin American Travel Association  Belize Hotel Association  Belize Trade and Industry Association  Belize Chamber of Commerce Institute  Belize Tourism Board Confidential
  6. 6. Key Management credentials (1) General Manager (Nick) Captain Don's Habitat, Bonaire (1996- 2001) General Manager (Nick) Harbour Village Beach Club and Marina, Bonaire (2003-2005) General Manager (Nick) Ka'ana Boutique Resort, Belize (2007-2009) Director Sustainable Tourism (Shannon) General Manager (Shannon) Ambergris Beach House, San Pedro (2014-2015) Sales and Marketing Director (Nick) - Winner – Tourism Employer of the Year (2008) - Chamber of Commerce and Tourist Board - Small Luxury Hotels – prepared for membership 2009 – only hotel in Belize in SLH - Small Luxury Hotels – prepared for membership 2005 – only hotel in Bonaire in SLH; - World Travel Awards –Bonaire Hotel of the Year 2004 & 2005 - Runner up – Best Dive Resort worldwide – Scuba Diver magazine USA (1999) - Preparation of property for sale under one year consulting contract – achieved success in 7 months Confidential
  7. 7. Key Management credentials (2) General Manager (Nick) Captain Don's Habitat, Bonaire (1996- 2001) Deputy General Manager (Nick) Down Hall Country House Hotel, UK (1987-1989) General Manager (Nick) Raven Hall Country House Hotel and Golf Course, UK (1989-1995) Served on Board of Directors (Nick) 1996-2001 Served on Board of Directors (Nick) 1996-2001; 2003-2005 including 3 years as President; Chairman of Marketing Committee; Founder and Chairman of the Island's airlift committee Served on Board of Directors (Nick) 2007- 2010; Chairman of Marketing Committee; Served on the country's airlift committee representing BHA; Confidential
  8. 8. San Ignacio Flagship Property - proposed funding and ownership structure Sky Flower Hotels  San Ignacio – 2018-2109  funding requirements – BZ$10m:  already secured an in-principal commitment from local leading development corporation for BZ$4.5m  seeking preferred equity funding (Class B) for BZ$3.5m; cumulative preferred callable Class B shares offering 6% dividend; callable from 2020;  seeking common equity funding (Class C) for BZ$2.0m  ownership  Special Purpose Vehicle: Belize Hotel Management (Phase 1) Limited  55% Class A Common (founding shareholders – Nick & Shannon Davies)  45% Class C Common shareholders – newly issued common shares Confidential
  9. 9. Conceptual Design Sky Flower Hotels Roof top pool (first in Belize)Standard Rooms Signature Dining Confidential Credit: Caribbean Engineering Credit: Caribbean Engineering
  10. 10. Indicative Project Timeline Raise common equity Q1 2018 PHASE 1 construct and fit out Q3 2019 Jan 2018 Confidential BZ$2.0m Raise preferred equity Q3 2018 BZ$1.9m Q3 2019 BZ$1.6m 20 rooms operational Q3 2020 37 rooms operational Construction 2018 2019 2020 2021 Drawdown of debt funding BZ$4.5m Operations PHASE 2
  11. 11. Indicative Financials
  12. 12. BHML Preferred EQUITY Features 12 FEATURES DESCRIPTION Instrument Class B Callable Cumulative Preferred Shares. Issuer Belize Hotel Management Limited Amount 3,500 Class B Shares (1,900 Class B shares issued Q3 2018; 1,600 Class B shares issued Q3 2019) Par Value $1,000 Minimum Investment $50,000 Dividend Yield Guaranteed cumulative dividend of 6.00% per annum of the face value accruing from the date of issuance of Preferred shares. Dividend Dates Paid semi-annually on January 1 and on July 1, when paid. Anticipated start date on January 1, 2020 for the financial year ending December 31, 2019. Rights Priority right to take up future Class B stock offerings & participate in Sky Flower business expansion in Belize and regionally. Restricted voting rights to selection of Class B representative Board member.
  13. 13. BHML Preferred EQUITY Features 13 FEATURES DESCRIPTION Security Unsecured Call Option BHML has the right to call all or a portion of Class B Shares after 1 February 2022 w/ call premium of 4.0 % over par value plus accrued dividend payment as of the date of Call. Registration Registered Stock Future Stock Issue No restriction on BHML to issue new stock. Other Conditions Full financial disclosure Audited Financial Statement and Published Financial Information within 6 months after the end of BHML's financial year ending December 31. Tax Status Dividend Income pays tax at 15% of value. Fiscal Agent Development Finance Corporation (DFC)
  14. 14. BHML Common EQUITY Features 14 FEATURES DESCRIPTION Instrument Class C Common Shares. Issuer Belize Hotel Management Limited Amount 2,000 Class C Shares (which will represent 45% of the voting common shares of BHML) Par Value $1,000 Minimum Investment $50,000 Dividend Yield No guaranteed dividend. Dividend will be dependent on BHML Board determining payment of dividend to Common Equity shareholders. Rights Class C Common Shares and Common Class A Common Shares (Founders shares) will rank behind Debt and Class B Preferred Equity.
  15. 15. Contact Information  Nick & Shannon Davies, 21 Moho St, Belmopan City, Belize, Central America  nick@nick-davies.com  www.skyflowerhotels.com  +501-610-3339 (GMT -7 hours) Confidential

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