Business
Q4 2015 Trading Update
Q4 2015 Trading Update.
About this update from Dci Advisors Limited
[{"type":"text","content":"\n \nRNS Number : 7225O Dolphin Capital Investors Limited 11 February 2016 \n\n11 February 2016 \n \nDOLPHIN CAPITAL INVESTORS LIMITED\n(\"DCI\" or \"Dolphin\" or the \"Company\" \nand together with its subsidiaries the \"Group\") \n \nQ4 2015 Trading Update \n \nDolphin, a leading investor and developer of high end residential resorts in the Eastern Mediterranean, Caribbean and Central America, is pleased to provide a Trading Update on its operations since the Half Year report issued on 24 September 2015.\n \nA. Operating Highlights:\nA.1. CORE PROJECTS\n· Amanzoe, Greece (www.amanzoe.com) \n- Continued improvement in the performance of Amanzoe during 2015, compared to 2014. The final occupancy for the year was 57%, representing a 5% increase compared to the equivalent operating period of last year, with an Average Daily Rate (\"ADR\") of €1,229 (2014:€1,257), while the resulting Net Operating Income (\"NOI\") doubled in line with budget.\n- One more lot was sold, bringing the total units sold/reserved in Amanzoe for 2015 to 4 and the total number of units sold/reserved to 15. \n- Achieved an improvement in the terms of the Amanzoe senior loan with Piraeus Bank. This will result in a 1.1% interest reduction and the reactivation of the VAT revolver of up to €3.5 million in total, which will further improve working capital. \n- An increasingly focused residential sales and marketing plan is being implemented, aiming to increase sales velocity. A number of activities and on site events are being planned, alongside an accompanying PR plan and expansion of the local Sales and Marketing team.\n· Playa Grande Club & Reserve (\"Playa Grande\" - www.playagrande.com), Dominican Republic \n- Amanera golf resort at Playa Grande formally opened for paying guests on 23 November 2015. The Amanera Hotel was at near full occupancy for the festive season with ADR of approximately $2,000. Severe tropical rain storms, coupled with final touches in construction and landscape, generated some opening challenges but these have either been or are in the process of being resolved. \n- Per our marketing plan, a number of journalists representing differing specialities have alre...