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Hotel Room Ownership

NOT Timeshare, But Fullshare – You Own Your Room 100%

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Posted on September 16, 2014 by Calum

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Hotel Room Ownership - Important Terms: Each hotel we renovate and re-open is owned by a stand-alone limited company. For shareholders security, mortgages on the company and hotel building are BANNED. This means that ownership of the hotel is 100% pure equity. Hence the veracity of terming this FULL-SHARE ownership. For the avoidance of doubt, in each of our hotel renovation/re-opening projects, this means ALL of the HOTEL is OWNED by the shareholders. In addition, each hotel is FULLY INSURED in terms of BUILDINGS & PUBLIC LIABILITY. The directors have studied other "time-share" hotel ownership business models and all we can see are buildings that carry significant debt as a way to accelerate a very risky expansion strategy. Those shareholders that buy into the "TIME-SHARE" business model are therefore placed in a high-risk position. Our projects differ insofar as we focus on SECURITY & ASSET-BACKING OF SHAREHOLDER FUNDS. We have deliberately set out to achieve the re-opening of closed hotels at MINIMUM risk to our shareholders. By ensuring our shareholders own 100% of the hotel building and that asset is fully insured, we believe this MINIMISES risk insofar as is possible. Each tranche of shareholder funds shall be assigned a specific hotel room and en-suite bathroom. All net proceeds from that room shall be paid, as per written agreement, to the specific shareholder of that hotel room and en-suite bathroom (less hotel costs such as pro rata Building & Public Liability Insurance, and utility + room management costs). Each shareholder is entitled to 2 weeks free use of their hotel room each Spring/Summer period (1st March to 31st August) and up to 10 free weeks in the Autumn and Winter period. This is a required caveat for the hotel to retain its live permitted use class order as a "hotel". All property ownership ventures carry some degree of risk. Past performance should not be taken as a guarantee of future performance. Whilst we ensure that NO debt NOR mortgage is needed for any project, and each has a solid asset foundation/backing, such is the nature of these hotel property ownership ventures, that shareholders should consider independent financial advice before joining or continuing membership. The price of assets can go down as well as up. A significant proportion of these hotel property ventures are illiquid and therefore consideration should be given that some may be medium to long term as well as short term holdings. This website is published solely for information purposes and does not constitute an offer, investment, nor legal, or other advice; nor is it to be exclusively relied upon in making an investment decision. Information contained herein has been taken from sources, such as HM Land Registry and Companies House. The directors have vetted and provided content to this website in good faith and as accurate as is possible. Especially with reference sources links being provided to unimpeachable sources, such as HM Land Registry where the HM Government guarantee title. However, no warranty is given that such information is perfectly accurate. By accessing these pages, including the password protected content, each reader and/or shareholder confirms that neither the management company: Scotslion Ltd (click here), nor the specific hotel owning company shall be held liable for any loss or damage of any kind which might arise, directly or indirectly from the information provided herein. A significant proportion of the investment projects here are only available to qualifying persons such as a Sophisticated or High Net Worth investor, or statutorily exempted participants. Investment such as the ones referred to within this website are often illiquid, high risk and not covered by the Financial Services Compensation Scheme. Such investments are known as non-readily realisable security. We do not offer investment advice nor make any recommendations regarding the suitability of these hotel-room-ownership projects.

Exit-Routes: In the first instance, this is via internal negotiations between shareholders. It is likely that several of our 111 existing High-Net-Worth and/or Sophisticated Investor shareholders (as legally defined in statute) within our wider group from the former Argyll group plc days will be keen to purchase any spare hotel rooms that may come up for sale from this hotel-room-ownership initiative. None of this precludes a hotel-room-owner from placing their asset for sale on the open market. Alternatively, in the event that a simple majority of shareholders (company capitalisation on the latest Companies House form CS01) plus "1" share votes to sell the whole building, then that is what will be progressed. A final vote on the acceptability of any subsequent offer for the completely renovated and re-opened hotel sale price will also go to a shareholder vote. That too shall be subject to a simple majority of most recent form CS01 capitalisation plus "1" vote protocol.

Statutory & Advisories: With effect from 24th January 2013 (Commencement Order: http://tinyurl.com/krndhl6), all Hotel-Room-Ownership projects shall be run so that they comply fully with the British Financial Service Act 2012 and related legislation unless an exemption applies. Smaller Hotel -Room-Ownership projects with between 4 and 25 members may, subject to the agreement of those taking part, consider "Sophisticated Investor" protocols providing a statutory exempting certain Financial Conduct Authority (FCA) requirements. Larger Hotel-Room-Ownership projects will require to make stringent efforts to ensure compliance with the Financial Conduct Authority Handbook and rules/statutes governing property-projects of this type. The formats will usually be one of the following: (i) Financial Conduct Authority registered and compliant entities operated as part of an FCA approved crowdfunder platform project, or: (ii) via Financial Conduct Authority PERG exempted protocols; (iii) Occasionally a "high-net-worth", or "sophisticated investor" funded property-project may be undertaken; (iv) On one past occasion a public limited company (plc) was established by the owners of this website as a vehicle for wider participation when membership looked to exceed general advisory guidelines on property-projects: ARGYLL GROUP PLC. This entity ran it's course and was closed in an orderly fashion once the assets were sold and it had fulfilled its purposes. However, it was a very expensive way of progressing our property-projects as the laws surrounding public limited companies carry a significant add-on cost in terms of "plc" standard accountancy and legal advice.

Self-Certification: Future Hotel-Room-Ownership projects may be structured along any one of the above mentioned protocols from (i) to (iv) indicated in the preceding paragraph. In addition future property-projects may be established along limited liability partnership protocols (LLPs). For more comprehensive details on the who, what, why, where and when of Hotel-Room-Ownership, please take the time to read the content of this website. Thank you. Please note, the detail and information contained in this website is NOT in and of itself an invitation to subscribe for shares, NOR is the content here intended as a request for people to invest in a property-project. If in doubt, please take advice from your accountant, bank manager or appropriately authorised financial adviser. MEMBERS SHOULD READ THE STATUTORY FINANCIAL GUIDELINES, TERMS & CONDITIONS AND FINANCIAL HEALTH WARNINGS PROVIDED WITHIN THIS WEBSITE AT THE MATERIAL SECTIONS. From 28th February 2018, the rebooted Hotel-Room-Ownership projects provide a SELF-CERTIFICATION facility for members to fulfil requirements on Anti-Money-Laundering legislation ID to ensure we do not fall foul of the solicitor-client-account-as-banker rules and related legislation. Hotel-Room-Ownership projects prefer the ROYAL MAIL ID VERIFICATION facility as this is the most efficient available to satisfy the rules that apply to property-projects of this type. Further information at: https://www.royalmail.com/personal/identity-verification .

Remuneration: THE DIRECTORS AT HOTEL-ROOM-OWNERSHIP RECEIVE NO FEE NOR REMUNERATION. The purpose of our projects is primarily to renovate and re-open closed-down hotels + bring shut-shops back to life and resurrect factories. An over-riding principle is the creation of viable jobs. Since 1997, this has been done on a voluntary basis. Since 1999 some 46 closed-down buildings have been refurbished and reopened by the Argyll Group plc., and also the Real Dragons' Den Ltd., team to date. In excess of 178 jobs created so far. However, as the property-projects and membership numbers grow, there is a risk of volunteer-burnout. So we will be establishing a separate asset backed annuity producing entity to pay for editorial + administrative + IT staff. Initially on a part time basis, and then if circumstances require and funds permit, this shall go to full-time employees.

Argyll Group plc: It is important to note that our Argyll Group plc was a SECONDARY and much smaller entity to the original FTSE Argyll Group plc (24th August 1983 - 2nd July 1996. Registered number: 1299733). The Argyll Group plc name was eventually brought back to life thanks to, and as an homage to a fine mentor who lived and worked within a mile of our own offices - an acclaimed Scottish businessman; James Gulliver CVO. Our Argyll Group plc was established 9th April 1999 and ran until 12th October 2007. During this period, the costs of running a public limited company were taking up a significant amount of time and money. We found that the reasons for becoming a plc were less and less relevant so took the company private. Once the projects covered by our Argyll Group plc were completed, we closed that company in an orderly fashion (SC195145). For due diligence, we should note that every building we purchase is placed into a stand-alone dedicated limited company. Once we have completed each renovation project and the life cycle of the holding company is complete, we simply close that company in an orderly fashion.

Agreement: All Hotel-Room-Ownership property-project members are requested to read the relevant Memorandum of Agreement (MAPU form) for Hotel-Room-Ownership owners and other related documents.

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