The resort is to be branded with a premium brand from one of the world’s leading hotel groups under a formal long-term Franchise Agreement. Waterside is currently at an advanced stage of negotiations with the brand franchisor in relation to a letter of intent (LOI), which Waterside intends to sign simultaneously with securing an ‘in principle’ offer of finance for the Project from a third-party lender.
Signing the LOI will also enable Waterside to access the brand franchisor’s design review service – providing Waterside and their team a wealth of experience and expertise in the latest design concepts for resorts of this type.
The brand franchisor will nominate or provide a shortlist of potential third-party providers for marketing and branding support and interior designers who will be appointed after the signing of the LOI.
The Franchise Agreement will enable Waterside to access the brand franchisor’s significant marketing and reservation support during both peak and non-peak periods. It will also provide Waterside with access to the brand franchisor’s loyalty program, which boasts over a hundred million members – this being a resort that will be attractive for members of the loyalty program to ‘spend points’.
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