W a r n i n g! Business-Type: Hotel Name of the Hotel: Swisscare Nuweiba Resort Hotel The Corniche 13-5 Nuweiba South Sinai Egypt Name of Owners: Alvin J Furrer His wife Safaa" Egypt-Bank Name? Misleading 01: this Hotel is offered by the owner for $ 6500000,00! The owner is lying, because he pretends that his Hotel can expect a classification of 4 Stars! And with little additional effort, even can be made a 5Star Hotel! Fact to 01 is: the hotel is in very poor condition, The sale price is totally exaggerated as inappropriate, because a general renovation would be carried out. The estimated funding for this would be in the millions of dollars.
Misleading 02: according to statements by the owner, a Egypt bank 48% of shares purchased at the hotel. The Hotel should be sold, so it is proportionately higher at about $ 3 million! Witch means, that the share of the proceeds from the sale in favor of the bank must be about $ 2,8 million. Fact to 02 is: the sales value of this Hotel (by state 28. Nov. 2010) is the maximum $ 1,5 million! Because a general renovation will cost between $ 4-6 millon, if that can qualified up to a good 4Star Hotel and the economy is assured! Misleading 03: the owner writes, that a wellness center (construction in wood?) is possible! Fact to 03 is: This is never possible for a 4 Star Hotel, because the corresponding area is not present (.. And License or permits for operating a wellness center in Sinai?) and if is possible, the economy is assured? Misleading 04: the owner writes, that a casino can be realized in the great hall of the Hotel! Fact to 04 is: Specialists Casino Projects have analyzed, that the hall of the Hotel is not even big enough for a proper entrance for a casino. For the realization of a casino ist required: Purchase of land (area of min. 25000m2, usable space in the building min. 2000m2, Parking for about ca. 80 to 120 cars. The Hotel would have a 4 Star plus or a 5 Star qualification! Total investment (building and equipments) $ 9-12 millions! Renovation the Hotel approx $ 6 millions! The economy is assured? More Facts are: the entire project must be questioned. Right place at the coast of Sinai? More Facts are: the representation for the sale of this Hotel is misleading and wrong! Especially in the current period, the hotel can be sold only for the value of the land plus a percentage increase of approx. 25% of the price for the land! The truth is: this object can never find a buyer, because all are afraid of the very high investment costs and before the effective profitability. (political and economic security) The owner is: unfortunately the owner s not able to lead a 4-5 Star Hotel. Moreover, studies shown, that massive financial problems are present. (reasons are available) In addition, the owner has an unacceptable character.interpersonal relationships do not exist. Food: very bad conditions Hygiene: not acceptable comfort negativ Owner: the owner is friendly, bad if you have a medical problem, he dont give a help or call to doctor, so a example in June!!! Holiday in Nuweiba: its possible, but the Swisscare Resort its no good way for people, they need real relaxed holidays. More as soon as possible
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