What happens when the guaranteed period is over?
When the guaranteed return period expires, the owner’s income is based on the normal market conditions, i.e. there is no guaranteed investment return and the owner’s income will be dependent of net tourism revenue calculated in accordance with the applicable formula foreseen in the Tourism Transaction Contract, which establishes, essentially, that the owner has the right to proportionally calculated revenue, based on the property owned, the size of the property and the periods in which the property was available and took part in the network of the tourism system, in all operational costs, expenses, condominium costs, management costs, reserve funds/operating funds and any other costs as foresee in the Tourism Transaction Contract.
