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IBB- 100% Agree and something I have been saying since the merger was announced (go back and look at my posts.
Mr. Breunich founded IMG Academy with Nick Bollieterri. It started out as Nick Bollieterri Tennis Academy. All can be found here with the Wikipedia link- https://en.wikipedia.org/wiki/IMG_Academy
"IMG Academy is a preparatory boarding school and sports training destination in Bradenton, Florida, United States.
IMG Academy is set across over 600 acres[1] and features programs consisting of sport camps for youth athletes, adult camps, a boarding school, including a post-graduate/gap-year program, events, professional and collegiate training, group hosting, and corporate retreats."
Sound familiar???
Here is another one-
"Nick Bollettieri founded the Nick Bollettieri Tennis Academy in 1978. Sports company IMG purchased the academy in 1987.[2] IMG acquired the youth division of the David Leadbetter Golf Academy in 1993 and added programs for soccer and baseball in 1994. Hockey and basketball programs were added in 2000 and 2001, respectively, and by 2002 the IMG campus had expanded to 190 acres (0.77 km2).[3]"
Added Golf then Soccer- HMMMM sound familiar again- expanded to 190 acres- What's the size of Sandpiper Bay Resort. Prior to acquiring the facility the Academy had only 1 building for the students, the tennis courts, and the golf course that they shared. Now they own the whole thing.
Mr. Breunich also built the school and the curriculum at IMG when McCormick owned IMG. Then Teddy Forstmann bought IMG out of the estate when he died and wanted the Academy back into the IMG Holding Company (it was a separate entity under McCormick)
Here is the quote from Wiki on the school- "The IMG Pendleton School was founded in 1999 as a co-educational, college preparatory school for athletic students. In 2012, the school changed its name to "IMG Academy".[8] It delivers both academics and athletics.[9]:
2012 is the year they changed the name because that is when Fortsmann forced Greg out and when he went to Club Med and formed Club Med Academies (see the releases from the partners, Hospitality Funding, Storer, etc about Club Med Academies operating at the property.
Here is the timeline of IMG on another site-
https://www.zippia.com/img-academy-careers-27078/history/?src=sp-popout-timed
Here is the information on the school- "1999- The IMG Pendleton School was founded in 1999 as a co-educational, college preparatory school for athletic students. In 2012, the school changed its name to "IMG Academy".[8] It delivers both academics and athletics.[9]"
Again-sound familiar??? They changed the name to IMF Academy after they forced Greg out and put it under the IMG umbrella.
"2004- Forstmann Little acquired IMG in 2004 for $750 million and has overseen its expansion from an agency representing professional athletes to a global sports and marketing business."
This is after McCormick died and then as he evaluated the Academy he wanted it under the umbrella of IMG when he realized how profitable it was.
This is the backup to say you are right. Now Greg has the property he had at IMG but the infrastructure is already there. He had to build it at IMG. Why do you think these big companies like Storer, Wyndham, and Zel all worked so hard to fund this deal in 7 weeks?
The IMG story is playing out right in front of our eyes. These families come from all over the world to train and go to school in the US. They get student visas to come here. The students that don't live on-site will come with a parent or guardian and rent or buy off-site. Now with $ALTD controlling the property, they can sell units to the families. Mr. Breunich can create his own micro-economy again.
IMHO this is what you have to look forward to as Mr. Breunich has already built it- https://www.imgacademy.com/about-img-academy.
Now with having the property, he has the additional rooms. Do you say 60% is good? Imagine if you can have students locked in full-time. Develop the marina. Put condos on the site. They already talked about the Basketball Academy. That's another 20 students at least starting out.
There is a building that used to house the GOs (workers for Club Med they shipped in and made lodging part of their pay- called the GO building.) Two bedrooms per bathroom. Perfect for the students leaving more rooms for guests.
How about Corporate outings, soccer club preseason training, etc? The list goes on and on. Don't forget Mr. Breunich brought the NFL draft training to IMG. All of the necessary facilities are already there. As a tenant of Club Med before he built all of the volleyball courts, and the 2 International soccer fields (which made it attractive to Rush).
It's a long-winded way of saying- "I agree IBB" There is so much more which is why these big players are involved in funding this acquisition. There are so many revenue streams.
Read it Bubba-
https://www.hotel-online.com/press_releases/release/altitude-hospitality-launches-sandpiper-bay-resort-in-port-st-lucie-florida-with-new-name-and-brand/
Here is the quote- “Altitude Academies, a subsidiary of the new locally based ownership group, brought its wide array of sports education and experiences to guests of the resort more than 13 years ago, so it was a natural evolution for their parent company – Altitude International Holdings, Inc. – to purchase the property.
A Third party that is managing the property states it clearly. All of the people in the deal are quoted that Altitude bought it- Storer, OTH, Zel, and Club Med have been quoted as saying ALTD bought the property. The only one saying they didn't is pepeoil.
It's OK to admit you are wrong. 10 different sources and articles have been presented. What evidence do you have besides repeating the wrong information? Because pepe said so BWAHAAAAAAAA
I do because Club Med is focusing on North America for skiing. They just opened in Quebec (Dec 2021) and are in the middle of building a new facility in Utah that is slated to open in 2024 (which takes a lot of cash).
It's all here if you do the DD- https://www.usatoday.com/story/travel/hotels/2021/11/30/club-med-ski-resort-opening-utah/8814444002/
With COVID closing all 90 resorts cash flow was an issue for opening these resorts thus selling the Florida property was a way for them to get cash quickly to keep construction going.
Here is the article on Club Med Quebec opening in December 2021 (that's less than a year ago).
https://www.travelandleisure.com/hotels-resorts/mountain-ski-resorts/club-med-quebec-ski-resort-opening
It's simple really if you take the time to research and do DD. So wanting to complement their Beach resorts they focused on skiing in North America. Since they have 7 newer resorts in the Caribbean they decided to sell a profitable resort in Florida (the only North American resort in the Club Med brand) to get a large sum of cash. Knowing that Club Med needed the cash is why they got it for $55 million instead of the appraised value of $80 million and why the drop-dead deadline and non-refundable deposits.
If you read the quotes from the financier- they had 7 weeks to close.
It's definitely more work than typing Bwahaaaaaaaa but more profitable.
Me too. GTSM was the MM that posted the 1 million share bids so maybe they are just lightning. Trading looks good though. The more eyes on this the better off we will be.
Hey Golfer-
Grab your clubs. Here is how I have been able to evaluate the hotel revenues. Again I think IBB gave some parameters of 60% occupancy as break-even in the hotel world but here are some revenue numbers.
Because it's an All-inclusive it's not just the room rate but how many guests/room.
For example on the Wyndham site- https://www.wyndhamhotels.com/trademark/port-st-lucie-florida/sandpiper-bay-all-inclusive-trademark-collection/rooms-rates?brand_id=TQ&checkInDate=10/10/2022&checkOutDate=10/11/2022&useWRPoints=false&children=0&iata=00093763&adults=1&rooms=1&referringBrand=ALL&cid=PS:wy1o9ky7u4lyvv3&loc=ChIJrQ7F9u_q3ogR4BB-3vlUSvQ&sessionId=1663368820
Here are the parameters of rates:
The least expensive room is $245/night for 1 guest.
$300 for 2 guests (so $55 for meals and alcohol- great deal)
For a family of 4 (kids 10 and 13) goes up to $570/per night
Let's take $300/night as an average (meaning no kids staying as it is a family resort.
It has 335 rooms so X 60% = 201 rooms occupied
201 x $300 = $60,300 x 365 = $22,009,500 revenue.
201 x $400= $80,400 x 365 = $29,346,000 revenue.
All of this corresponds with the numbers I heard from Club Med people that the resort was doing around $33,000,000 in revenue and $10,000,000 $13,000,000 profit.
You also have to consider the economics of scale where the Academies is now paying itself instead of a straight expense. Also, there will be Soccer Club packages that will be sold for training.
Finally- I believe the GO rooms that housed Club Med Staff will be used for the Academy kids opening more rooms for the public to buy since they will be hiring all of the staff from Port St. Lucie. There are also synergies of staff and savings between the resort and the Academies that were not there previously.
I know there are a lot of variables in my evaluation but no matter how you slice it, it should add $25-$35 million in revenue and $5-$10 million in profits IMHO, and based on the numbers I just did.
I was thinking the same exact thing. Gr8 minds think alike ;)
Even the finance company that structure the deal explained it and why it was structured that way.
Yea it’s pretty cut and dry. Talk to anyone at the resort and they all say Altitude bought it.
I believe the silence is due to the Quiet Period for the NASDAQ uplisting. Once that happens I think you will see a lot of press. This is the time to load up as all of the DD is there for those willing to take the time to find it.
Those people with the million share bids know.
Exactly 007-
This should put to rest any question of $ALTD owning and operating the property. The quotes from the people involved say all you need to know-
"Sandpiper has a storied history as a beloved, active and attainable vacation destination where families and groups choose to return year after year,” says Todd Felsen, CEO & President, OTH Hotels Resorts. “Altitude Academies, a subsidiary of the new locally based ownership group, brought its wide array of sports education and experiences to guests of the resort more than 13 years ago, so it was a natural evolution for their parent company – Altitude International Holdings, Inc. - to purchase the property."
Or this one- "Zel Capital Partners represented both the buyer and the seller in the transaction. Zel Capital’s unique Sale Leaseback Platform allowed Altitude Hospitality to conserve their equity, reduce equity dilution with less partners and acquire financing rapidly."
Boom- Drop mic. There is no question who is in control.
https://www.wqcs.org/wqcs-news/2022-10-05/psl
Things moving along nicely. PSL should be happy hiring locals. Club Med brought people in from their team.
“A full-scale renovation is planned for the 307-room, 216-acre property and OTH has started hiring for the new Sandpiper Bay Resort.
Todd Felsen, CEO & President of OTH, said the renovated property will have a "significant economic impact" on the Port St. Lucie region and OTH plans to "hire and onboard more than 400 employees at the new resort."
With $25 million slated to be invested in Phase One, the waterfront hotel will see a complete refresh.”
Agreed.
Yes, that's the official opening but I hear it's been filled up with FPL staging for electrical work since the hurricane. I hate making money off of a tragedy but someone has to get paid for housing the workers
As soon as it started to get hit it disappeared.
Now it's $.0401-$.067
60,000 x 10,000
GTG,
He just tries for his narrative. Disappears when the stock is up and when it comes down spews lies. Typical
The other thing is there was a buyer of all the shares at almost .04.
I don't like the 612,000 bid hit of course and understand OTC mentality with R/S but I also believe there is a difference between splits because you've maxed out Authorized due to Toxic Debt but to me this is different.
I'll wait it out as I definitely see the growth potential and they have continued to do the things they stated in the CEO messages-
1. Consolidated soccer clubs- Rush Soccer
2. Started schools at the club
3. Acquired the resort.
I'll trust the DD of these companies-
Thank you for your service sir. And looking forward to that kill.
Welcome Gold
I was on iHub 8 years before my first post and it was on XCRT too (UDHI at the time)
You are right lots of good reasons to post here
Putting words in people's mouths again as usual-
No one claimed any of those things. And Get it right it's uplisting to NASDAQ and I always post back up links-
Here is the 14C link that was delivered to Shareholders-
https://www.otcmarkets.com/filing/html?id=15953224&guid=JF--kWqp5N5HJth
It states and I quote-
"Our Board and Majority Stockholders have approved the Reverse Stock Split in order to provide for meeting minimum Nasdaq requirements for listing (such as a minimum stock price of $4.00),"
Here is the S1 Filed by ALTD and EF Hutton-
https://www.otcmarkets.com/filing/html?id=15785074&guid=JF--kWqp5N5HJth
It states-
"There is currently a limited public trading market for our Common Stock. Our Common Stock is currently quoted on the over-the-counter trading market (“OTC”) under the symbol “ALTD.” In connection with this offering, we intend to apply to have our Common Stock and Warrants listed on the Nasdaq Capital Market under the symbols “ALTD” and “ALTDW,” respectively. "
Proof....stop making stuff up. You've never posted a link just crazy stuff you make up.
Looking really thin here. Any volume and watch out
So is it coincidence that the first NFL team to score 28 points in 4th qtr in 10 years and one of the greatest comebacks is also THE ONLY NFL team to have an Altitude Chamber?
Asking for a friend. 2nd half belongs to the Dolphins.
The full-time boarding tuition for Altitude at their resort is $65,000/year. The $17,000 for Rush in Hawaii is just the school. There is no boarding as the kids all live there.
That being said, I'm sure there are scholarships for outstanding players; some pay less but say they average $55,000- That's over $2.5 million in revenue just from the Soccer Academy.
Not too shabby and now they pay themselves for the boarding and housing instead of Club Med.
Another one-
https://www.tcpalm.com/story/news/local/st-lucie-county/2022/09/15/club-med-sandpiper-bay-drops-club-med-name-under-new-ownership/10366737002/
The story is still unfolding which will mean more press. I'm sure MZ is handling all of this now.
The property did trade one brand name for another in the transition. The full new name for the resort is "Sandpiper Bay Resort, a Trademark Collection By Wyndham." Wyndham is a worldwide hotel chain, but no information was available about its role with Sandpiper Bay.
Word getting out-
https://www.wqcs.org/wqcs-news/2022-09-13/altitude-international-secures-world-class-property-for-global-headquarters-in-port-st-lucie
"Our new headquarters will bring together our businesses at one incredible property, creating a best-in-class global destination for our training, education, and newly acquired active family resort businesses," said Gregory Breunich, Chief Executive officer of Altitude. "We believe this strategic addition to our businesses is instrumental to our future. The ramp-up for an extensive renovation is underway with expected completion over the next two years to the 200 acres of property that features a 335-room waterfront hotel, an on-site golf course and driving range, tennis and pickleball courts, volleyball courts, soccer fields, a marina, and all the amenities of a full-service resort. The resort will remain open throughout the renovation process."
Good morning and AGREED
Absolutely true. My guess is Reg A done. Stock price above $.05 for couple of weeks. Financing should be done so they can move forward with projects.
Quick thought. You see what Mike built with $165,000 of his own money. What do you think he can do with $800,000
This is not your typical OTC IR firm. Nothing but NASDAQ customers. Writing is on the wall.
Again I never said that but you are a champ at putting words in people's mouths. The facts are they posted 10,000 on the offer and took in over 54,000. It's irrefutable. But you don't like facts.
Obviously CDEL was hiding what it had on offer (I hate that and it is illegal) So they took in 54,000 at .052 with only showing 10,000 so we just keep chipping away. Next up .055s
WX (Dog already taken lol)
You summed it up great too. A great board here with people sharing quality DD
I just said the same thing. Gr8 minds think alike. Easy if you just read the contracts.
Another false statement. When someone pays money to stay at the resort, who is receiving the money? Altitude Hospitality. They are receiving all of the revenue for the resort. $1.3 million is received from Altitude academies already. They pay themselves......brilliant!!!!
Plus the lease is for 20 years with 5-year options to increase another 20 years or until 2062. Again we will have to wait for the 10Q but I imagine there are some accounting rules that allow them to put the asset on the books based on the structure. We will see,
Again all this was accomplished with a downturn in the markets. And as 007 said with NYSE companies. Pretty impressive.
False again. Show me where I said lease to own- you said that in your silly Aaron's comment.
Here is what I said in post #4311- "false claim as the contract includes lease buy-back so they can own the property with a 110% purchase price"
You responded in Post 4316- "lol, it isnt no lease to own. LOL This isnt Aarons furniture. LOL."
I never said lease to own I said lease buy back which my links and the contract prove.
IBB-
Since April 25 when $ALTD signed and put the first deposit on the property interest rates have risen 175 basis points and the Capital Markets have dried up. In this market $ALTD still got the deal done. I think that speaks volumes.
I guess you don't read contracts- not surprising as it may conflict with the false narrative you are trying to push.
https://www.otcmarkets.com/filing/html?id=16071722&guid=Bg--kq-5bL9kdth#ex10-3_htm
Copy and pasted - Bold because I know you don't like to read but just post nonsense. Try real DD
Article XVIII
Purchase Option-
"Section 18.01. Option. Beginning on the date which is thirty-six (36) months following the PIP Completion and for a period of up to four (4) years thereafter, Lessee shall have the option to give Lessor written notice (an “Option Notice”) of Lessee’s election to purchase the Property for a price equal to the Option Price (the “Option”). The “Option Price” shall mean the greater of (i) 110% of Lessor’s Total Investment; or (ii) the then current Base Annual Rental divided by the Applicable Cap Rate; provided however, in the event of any rental reduction or deferment, the Base Annual Rental shall mean the Base Annual Rental which would have been in effect at the time of the Option Notice without taking into account such reduction or deferment. The closing for such purchase (the “Option Closing”) must occur within ninety (90) days following Lessor’s receipt of the Option Notice. Lessee shall receive a credit at the Option Closing toward the Option Price in the amount of the Security Deposit, the Capital Replacement Reserve and all other reserves and deposits funded to Lessor by Lessee to the extent such amounts have not otherwise been applied by Lessor in accordance with this Lease.
Art
Same here
WOW Spot on IBB.
Also while the "claim" that they are just paying rent (false claim as the contract includes lease buy-back so they can own the property with a 110% purchase price) but $ALTD from their financials paid $1,680, 992 in rent last year. https://www.otcmarkets.com/filing/html?id=15977946&guid=Bg--kq-5bL9kdth
Now let's say at least $1.3 million was to Club Med- the rest is to rent for the Miami Academy and rent for the factory of Altitude Water)- for $2.7 million in additional payments they get all of the revenue from the resort.
Spend an additional $2.7 million to get approximately $30 million in revenue. I'd say is a pretty good deal. Maybe that was the second semester of Business 101.
Agreed