Chapter 145: Father and Son
Letting such an obvious business opportunity slip away would be a huge waste. José couldn't take action himself, but there was someone who could.
"Dad, I suggest you secure the development rights for a piece of land. Once Llucmajor is built up, this place will become the Las Vegas of Europe! It may not be a gambling city, but its appeal won't be any less than that of Vegas. Opening a hotel here will bring in far more revenue than what you're making now," José said to Alemani.
"I know that too... but José, I don't have enough cash on hand. My working capital is just over two million, and simply acquiring the development rights will cost more than a million. After that, I'll still need a lot more money to build a hotel," Alemani sighed.
"Just secure the rights first. It's not like the hotel has to be built immediately. That gives us a buffer period, and by then, we should have the funds to build it," José thought for a moment before replying.
"Son, if I don't complete construction within five years of acquiring the development rights, the district council will reclaim the land... The ones securing development rights now are all major hotel chains. Once construction is permitted, they can start building right away. They can afford to wait. But I'm just a small hotel owner with modest wealth!" Alemani complained. "If I can't raise five million in five years, there's no way I can build the hotel! And the investment has to be substantial—if it isn't, I won't be able to compete with the big hotel chains. Five million is just a conservative estimate!"
"That... does sound like a problem," José scratched his head.
"But son, if you help me, I can still make it happen," Alemani grinned. "How about lending me a few million to build the hotel? I'll repay you with the hotel's revenue, plus interest."
Alemani had already considered this plan. He couldn't pass up the business opportunity on this land. Even if he only built a mid-tier hotel that couldn't compete with major chains, as long as the area became popular, the hotel would never lack guests. Even if he couldn't attract wealthy clients, he could still cater to tourists with more modest budgets. The revenue would be stable, and the investment would never be a loss.
However, the Balearic district council took this development project very seriously. They wouldn't allow someone to acquire development rights just to sit on the land and wait for its value to rise. The rule was clear—construction had to be completed within five years, or the land would be reclaimed. With his current financial situation, Alemani was hesitant. That's when he thought of his son.