10/08/14 04:39 PM
Re: Caravanserai

I would recommend against signing that letter at this point in time also. As I think about this, it seems to me the emails (as opposed to registered letters) were just a means to get the topic on the table, They probably expected blow back from angry t/s owners and, as I wrote in a previous post, the "hotel" offer was just meant as a starting point for discussions.
So I would also recommend waiting to see the outcome of the meeting proposed by Ted Richardson and the SMTA with Scotiabank and Alegria as well. I would be very surprised if they would reject taking such a meeting.
But I do think everyone needs to be realistic about their expectations. I can't imagine that Alegria bought the resort without first doing a feasibility study and profit and loss assessment, and based on that developed a strategy to fix it. As we all know, the business model under Kildare/Caravanserai was unsustainable, so some operational adjustments (increased AMF's being a possibility?) must be implemented to right the ship. If you want the place to become everything you hope it can be, and I know you all do, then I think you'll all be better off in the long run participating with the new owners rather than fighting them. Manek is responsible for creating this mess and I don't think Alegria should be cast as the bad guys here for trying to find a remedy for the situation.

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