Within 30 days of closing the property, the owner will be issued a ‘Owner Gold Card.’ With the Gold Card the owner is recognized as an owner of the property in the hotel. Benefits include 95% discount stay in the 5 star hotel plus 50% discount at all the hotel facilities, including restaurants, bars, coffee shops, club,
parking etc The card may be freely used to get a 50% discount at all the hotel facilities, but should not be misused. This discount is available for his/her personal uses only, and not for commercial use. For staying in the hotel the 95% discount is worked as follows. The owners pay the hotel the 50% on accommodation. In return the owners unit is earning for him an expected return of 45%. Thus the out of pocket cost for the owner is only 5%. This is how the 95% discount works. Or the owner can remove the unit from the rental pool and stay free in the unit.
If the owner sells the property, the Card will expire, and the owner has to return the card back. |