Originally Posted by
MePlatPremier
Probably deflagged already. These type of projects usually go way overbudget and all of the sudden those upfront fees that have to paid to Marriott start to look too costly to the property developer.
Or ... like the prospective condo I was looking at, the developer couldn't get the financing to start the project.
Looks like the concept here was a W Residences mixed in with a hotel. Maybe Brexit created some uncertainty in the financial world regarding whether the Residences could be sold and whether Brits will continue visiting the Algarve post Brexit.
I suppose its hard to build a reliable ROI case for the bankers based on the random FTer who occasionally works remotely at places on the beach with good bars .... with reliable wifi
