EFTA00295208.pdf

THE BELLVIEW BILTMORE RESORT CLEARWATER, FLORIDA Executive Summary May, 2011 This landmark hotel was built in 1897 and it consists of a beach club, an 18 hole golf course and a 256 room hotel. The main hotel and golf course are located on the Inter Coastal waterway. The beach club is located 3 miles to the west on the Gulf of Mexico. The hotel is listed on the National Historic Register. In 2009, the present owners closed the hotel in preparation for its demolition and the development of a new mixed-use project. However, due to community opposition, the City refused to issue a demolition permit and the owners put the hotel up for sale. The golf course is presently open and the beach club and the hotel are closed. The Bellview Biltmore Resort and pools The new focus of this resort is to rebrand it with a major flag; institute a historically appropriate rehabilitation which generates Historic Tax Credits; reposition the hotel with mid-priced room rates ranging from $175 to $225 on average and institute a "deeded fractional sales" program. The capital generated from the sale of these deeded fractional sales, substantially reduces the debt on the hotel and positions this hotel for sustainable profitability. For the first time, a Canadian, European or Northern U.S. buyer will now be able to own a piece of U.S. history through the deeded purchase of this restored landmark resort containing the amenities of a beach, golf course and spa/pools; all in an attractive Florida location. EFTA00295208 Historic room decor at the Biltmore, 2009 Modem room decor at the Biltmore, 2009 Financing is now being assembled. For all questions, please contact: Philip G. Crifasi, Jr, .the project re-developer/historic preservationist at (908) 489-5171. EFTA00295209 EFTA00295210