06/02/07 - US multimillionaire to build “Nikki Village” in Cape Verde PDF Print E-mail
ImageUS businessman Jack Penrod, told the Miami Herald newspaper that he was going to work with Cape Verde Developments & professional golfer Ernie Els to build a golf course and a "Nikki Village" in Cape Verde. These projects are 'Calheta Bay' on Sal and 'Baias das gatas' on Sao Vicente.  Penrod is the owner of Nikki Beach, a chain of restaurants and nightclubs in beach areas which, since it began in South Beach, Miami, a decade ago, has grown to 18 restaurants and clubs in seven countries, employing 3,700 people.

Speaking to the newspaper, Penrod said that his company had entered a new phase which included branded hotels, casinos, golf clubs, beach resorts, condominiums and villas with Nikki Beach Hotel & Resorts having US$500 million to invest. 

This amount will be used for eight projects in Reno, Nevada, Portugal and two each in Cape Verde, Mexico and Panama, with more than ten projects in the assessment stage.

Branded hotels are a recent concept in which luxury brands such as Bulgari, MIssoni, Versace, Armani, Ferragmo and Nicky Hilton, give their name to hotels that pay for the privilege.

“We want to expand the brand. That’s all we want,” said Penrod.

In Reno, for example, Nikki Beach will take control of the around 200 rooms on the top three floors of the Hotel Grand Sierra in order to create a boutique hotel within the hotel, which will also have a beach club on the roof terrace.

Penrod is also planning "Nikki Beach at Sea" a cruise ship costing US$498 million which will be run as a floating hotel for 832 passengers travelling between different locations where the company has resorts.

In order to finance the expansion the company has twice issued bonds, once in the United States and again abroad. 

 

Source Macahub
 
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