Business-Type: Hotel

Name of the Hotel: Swisscare Nuweiba Resort Hotel

The Corniche 13-5

Nuweiba South Sinai

Egypt

Name of Owners: Alvin J Furrer

His wife Safaa"

Egypt-Bank Name?

Misleading 01: this Hotel is offered by the owner for $ 6500000,00!

The owner is lying, because he pretends that his Hotel

can expect a classification of 4 Stars! and with little

additional effort, even can be made a 5Star Hotel!

Fact to 01 is: the hotel is in very poor condition, The sale price is totally

exaggerated as inappropriate, because a general renovation

would be carried out. The estimated funding for this would

be in the millions of dollars.

Misleading 02: according to statements by the owner, a Egypt bank 48%

of shares purchased at the hotel. The Hotel should be sold, so

it is proportionately higher at about $ 3 million!

Witch means, that the share of the proceeds from the sale in

favor of the bank must be about $ 2,8 million.

Fact to 02 is: the sales value of this Hotel (by state 28.Nov.2010) is the

maximum $ 1,5 million !

Because a general renovation will cost between $ 4-6 millon,

if that can qualified up to a good 4Star Hotel and the economy

is assured!

Misleading 03: the owner writes, that a wellness center

(construction in wood??) is possible!

Fact to 03 is: This is never possible for a 4 Star Hotel, because the

corresponding area is not present (..and License or permits for

operating a wellness center in Sinai ??)

and if is possible, the economy is assured?

Misleading 04: the owner writes, that a casino can be realized in the great

hall of the Hotel !

Fact to 04 is: Specialists Casino Projects have analyzed, that the hall of the Hotel is not even big enough for a proper entrance for a casino.

For the realization of a casino ist required:

Purchase of land (area of min. 25000m2, usable space in the building min. 2000m2,

Parking for about ca. 80 to 120 cars.

The Hotel would have a 4 Star plus or a 5 Star qualification !

Total investment (building and equipments) $ 9-12 millions!

Renovation the Hotel approx $ 6 millions !

the economy is assured?

More Facts are: the entire project must be questioned.

Right place at the coast of Sinai?

More Facts are: the representation for the sale of this Hotel is misleading and wrong! Especially in the current period, the hotel can be sold only for the value of the land plus a percentage increase of approx. 25% of the price for the land!

The truth is: this object can never find a buyer, because all are afraid of the very high investment costs and before the effective profitability. (political and economic security)

The owner is: unfortunately the owner s not able to lead a 4-5 Star Hotel. Moreover, studies shown, that massive financial problems are present. (reasons are available)

In addition, the owner has an unacceptable character. Interpersonal relationships do not exist.

Food: very bad conditions

Hygiene: not acceptable

comfort negativ

Owner: the owner is friendly, bad if you have a medical problem, he dont give a help or call to doctor, so a example in June 2010!!!

Holiday in Nuweiba: its possible, but the Swisscare Resort its no good way for people, they need real relaxed holidays.

more as soon as possible