Llana FAQs
On this page you will find answers to many of the most common questions. If you do not find the answer you are looking for here, please go to the 'Contact Us' section where you can submit questions
Who is the property manager?
This is a company within The Resort Group plc specifically responsible for managing the Llana Beach Resort. In effect, it is The Resort Group
How can it be that I can still owe money to trG?
Technically you do not.
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All properties are subject to 2 agreements. The first is a Rental Agreement which deals with the amount of Rental Income that is paid to your LBG Company from the use of the property.
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The second is a Property Management Agreement which deals with the costs of maintaining the property and surrounding areas.
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Where the costs of property management exceed the rental income, then the LBG owes money to TRG. Your property is probably one of the few (about 10% of Llana Properties) where this is the case.
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The cause of this negative balance will be a low rental income, and dealing with the legacy of maintainance costs which were discounted but still charged during the period the resorts were dealing with the Covid Pandemic.
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Members of the LBG have an obligation under the rules of the Company to contribute to costs only where there is insufficient rental income to cover property management costs. Unfortunately, this is the case here.
Why am I getting this letter now?
We have recently been informed of the performance of each room on the Llana Resort by TRG, including rental performance for the last 12 months. From this we can estimate that this Company will not receive any money from TRG in 2025 without some action taking place. Your response to this question will help the Directors decide what action best to take in the interests of the Members.
What happens if I do nothing?
The Directors will review responses for each property/LBG Company and decide what best to do in the interests of the majority of Members. If you do not respond the Directors may decide to suspend or cancel your Membership if that helps them achieve a better solution for other Members. Therefore it is important you express you preference.
How much do I Owe?
You letter shows the estimated liability of the LBG Company. You should assume your liability will be approximately the proportion of this relevant to the proportion of the LBG in which you have an interest. For example, if you have a 25% (1 in 4) interest then you should assume you have a liability for 25% of the value in the letter. Once responses have been collated, the Directors will be able to decide on what action and will enter discussions with TRG about how best to cover the 2025 balances. It maybe that the Directors will be able to reduce this liability.
What happens after 2025?
We hope that with improved performance the property will return enough that by 2026 a repeat of this action will not be necessary. However, that cannot be guaranteed.
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What is clear is that without action there is a risk that this LBG will be closed down before the end of 2025 and the Directors are acting quickly in an attempt to find solutions that will make that smaller risk that it is currently.