Investment Opportunity - Press Release
Even in these austere and difficult times, and especially after the measures announced in the recent Provincial Budget, it is gratifying that the government of Newfoundland and Labrador remain committed to supporting the provincial tourism industry by promoting investment.
Marble Inn Resort, a leading tourism venue in Western Newfoundland, is launching a second wave of investment opportunities through the government’s Resort Investment Tax Credit. An opportunity for Newfoundland residents to invest in Western Newfoundland’s Tourism industry. Investment that will support the continued development of Marble Inn Resort as a Premier Destination Resort and Western Newfoundland’s Tourism sector as a whole.
Investors will receive a 45-per-cent credit/rebate on provincial income tax, up to a maximum benefit of $150,000, a significant incentive. Effectively, this Provincial investment incentive program will reimburse participants through a Provincial Tax Credit for 45% of the invested value. A $300,000 investment would have a net cost of $165,000. As an Approved Resort Development in the Province of Newfoundland and Labrador, Marble Inn Resort is authorized to issue tax certificates equivalent to 45% of the total invested value. Tax certificates that will trigger a reassessment of Provincial taxes paid over the past three years, (or which can be carried forward for up to 6 tax years) leading to reimbursement of taxes already paid or offsetting future Provincial taxes. A remarkable investment opportunity!
Marble Inn Resort’s investment program offers investors an optional guaranteed fixed rate of return. Based on full purchase value an annual rate of 2.75% will be paid out to investors. That return jumps up to an equivalent 5% on the ‘after tax credit’ value. An amazing return in today’s investment market place. In addition, investors receive annual accommodations credits for personal use of the resort at no charge. Each owner can enjoy Marble Inn Resort for 10 nights per year, free of charge.
Marble Inn Resort has passed the strict requirements to become a Participating Resort Development as approved under the Resort Tax Credit legislation. It is the only Resort in the province currently available for Investment under this RTC program. Marble Inn Resort will be offering a total of 16 units for inward investment in this second phase of releases after a successful initial round of investment in 2013. This time around they are offering the units under a managed leasing arrangement which will further reduce investor risk and provide a stabilized 5% return on investment with Opt-out provisions. Provisions that fix the value of the principal investment and protect the investor from principal value erosion.
Marble Inn Resort continues to grow in the accommodations industry and is focused on becoming a true destination resort. While maintaining its appeal to the core domestic clientele, Marble Inn Resort will focus its efforts and investment on becoming a true destination product. A Resort that offers a comprehensive vacation experience. This will require expansion of our culinary product, an upgrade to our water front facilities, continued investment into the spas facilities and a continued expansion of our adventure tourism program as offered through our industry partners; Linkum Tours and Explore Newfoundland.
The management team behind Marble Inn Resort has faith in the province’s tourism potential. They are pressing ahead with facility upgrades and launching a new Adventure Tour offering through explorenewfoundland.com, a vision for Marble Inn Resort as a base camp for exploring the Region as a whole. A gateway product attracting tourists to Western Newfoundland’s vast Tourism resources from the Tip of the Northern Peninsula at Quirpon Island to the seascapes of Cape Anguille; our most western point. An investment in Marble Inn Resort is an investment in the future of this Province as a tourism destination.