Nikki
Apart-Hotel for Sao Vicente, Cape Verde
Nikki Beach is a Miami based operator of clubs and beach restaurants.
It has diversified into Nikki Beach aparthotels where investors
can buy a time-share apartment adjacent to the restaurant/night
club. The first Nikki Beach Condo has just opened on the Caribbean
island of Turks and Caicos. A Nikki Beach is also planned for the
Fortim complex on the hills above Mindelo in Sao Vicente, although
this will not be on the beach. Instead it proposes a casino, and
Nikki Beach club.
Aparthotels in the States have been hit hard by the Credit Crunch
and some projects may be delayed or shelved. An aparthotel, unlike
a timeshare, is fully owned, though most owners visit for only a
few weeks. But condo-hotels have an added appeal because the rooms,
when empty are let with rents split between owners and operator.
Investors snapped them up during the boom believing that they would
soon recover their money. But some now find that making money off
a room is not that easy, with occupancy and room rates not matching
their hopes. Some are even suing developers to get their money back.
Here is a New York Times report on the Nikki Beach club in Mexico
"This haven of the hip hails from South Beach, Miami, and brought
its ultracool vibe to the beach of the Mexican Cabo resort in March
2005. White-draped lounge beds scatter the outdoor area, under a
canopy of umbrellas, surrounding a pool, and overlooking Cabo's
best swimming beach. A teak deck offers covered dining. The music
is the latest in electronic, house, and chill, with visiting DJs
often playing on weekend nights. Sundays feature the beach brunch.
It's a great choice for catching rays during the day while sipping
tropical drinks, but its real appeal is the nocturnal action. Open
Sunday to Wednesday from 11am to 1am (food service stops at 11pm),
and Thursday to Saturday from 11am to 3am (food service stops at
1am)."
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