Walker Hospitality Responds To Market Slow Down With An Innovative Incentive, Providing Purchasers With The Best of Two Worlds - Travel and Real Estate

Date: October 31, 2009

Acknowledging that real estate purchasers are reluctant to spend money right now until they get a better understanding of the repercussions of the current world wide economic crisis, Walker Hospitality is responding by offering an innovative incentive using their two distinct businesses – The Oak Bay Beach Hotel and The Discovery Club.

Kevin and Shawna Walker of Walker Hospitality are pleased to announce that starting on November 1st, when a membership in The Discovery Club is purchased the client will then have the option of later applying between 70 to 100 per cent of the cost of the travel destination membership ($175,000) directly towards the purchase price of a Private Residence or Vacation Hotel Suite at The Oak Bay Beach Hotel.

The Discovery Club is an exclusive luxury travel destination club that was launched by the Walkers in early 2007, and has a proven track record of providing members owner-like access and privileges to the world’s finest collection of hotels, resorts and travel experiences.

The rare real estate offerings at the Oak Bay Beach Hotel include the exclusive Private Residences and Vacation Hotel Suites. The Private Residences are penthouses and subpenthouses offering the ultimate year-round luxury resort lifestyle. The Vacation Hotel Suites are whole ownership waterfront vacation suites, offering up to 16 weeks of annual usage and a unique lease-back revenue stream structure.

With this incentive people can begin enjoying their benefits of membership immediately by booking vacation time all over the world. “We have been speaking to some of our purchasers and they are thrilled with this incentive as it allows them to join the Discovery Club now and enjoy an island-hopping getaway in the Caribbean or a wine tasting cruise down Germany’s Rhein River tomorrow. It also gives them an opportunity to purchase real estate at the Oak Bay Beach Hotel when the time is right,” says Kevin Walker. “Potential purchasers are very excited about calling the Oak Bay Beach Hotel home for all or part of the year with our Private Residences or Vacation Hotel Suites, so this travel piece would just add to their lifestyle.”

Even in these uncertain financial times, when many people are choosing to stay close to home, our Discovery Club members are travelling around the world, experiencing the finest in exclusive travel. Their membership is acting as a hedge against the financial turbulence that many people are personally experiencing,” says Walker.

As the economy adjusts and the real estate environment changes, factors like the recent drop in interest rates could act as further incentives for a purchase of both club memberships and Oak Bay Beach Hotel real estate. The strengthening US dollar is also driving a constant stream of incoming leads from American purchasers.

While people may be hesitant to invest in real estate right now, they will want to eventually get back into the game, and this provides them invaluable access to one of the last remaining real estate investment opportunities in an incredible Victoria waterfront property,” says Walker. He explains, “Walker Hospitality is all about building relationships and this provides an opportunity to engage people now and bring them into the "family".”

For purchasers who choose to fully participate in this opportunity, their lifestyle would include world class travel experiences for the rest of their life and the luxury of a full or part time residence at one of Canada’s most exclusive ocean front properties.

If a Private Residence or Vacation Hotel Suite priced at $1 million or more is purchased, the full $175,000 will be applied to the purchase price. Vacation Hotel Suites priced from $500,000 to just under $1 million will have 70 per cent of the membership cost applied to the purchase price. This limited time incentive will give purchasers of The Discovery membership six months to take advantage of the offer.

Private Residences at The Oak Bay Beach Hotel
The Private Residences will offer an experience of luxury resort living with breathtaking mountain and ocean views combined with the seamless sophisticated services of an oceanside resort. Whether ensconced in the privacy of your own home, mingling in the dining room, or bathing in the mineral baths, the best of hotel living will be completely at your service.

The Oak Bay Beach Hotel is offering 20 Private Residences all of which are penthouses or subpenthouses and range from 857 square feet to 2,285 square feet with prices starting from $1 million.

Vacation Hotel Suites at The Oak Bay Beach Hotel
The Vacation Hotel Suites are a limited offering of whole ownership waterfront vacation suites, offering up to 16 weeks of annual usage, with the opportunity to use three of those weeks from May through September. Along with the rare opportunity of owning a piece of the Oak Bay Beach Hotel, purchasers will benefit from a very unique lease-back revenue stream structure. The Vacation Hotel Suites include studios, junior suites, 1 bedrooms and 2 bedrooms, ranging in price from $289,000 to $1.2 million.

For more information on the current offerings at The Oak Bay Beach Hotel or The Discovery Club make a reservation, people may call 250-598-4556 or visit www.discoveryclub.ca.