A highly-caffeinated resort
As I sit here on Matangi Island in the northern region of Fiji, the island next to me is apparently being developed into the world's second "seven star resort" by the people who founded Red Bull energy drink. I'm told the following:
They bought the island from the Forbes family for something in the area of $12 million, and then took down every existing structure on the island.
They have so far built 24-26 rooms, each with its own swimming pool, and a 200-meter main swimming pool.
They're putting in an 18-hole golf course, but the sand flies are a problem so they don't know how people will be able to stay on the course after mid-afternoon.
They're putting in an air strip so they can fly their private plane(s) directly to the island.
They've spent close to $250 million so far...
Someone said they thought rooms will start at about $3,800 per night, and there is a hill-top large villa which will start at around $30,000 per night.
Anyway, it's yet another example of someone making huge profits from an idea that seems so simple it should have been thought of decades earlier. But it wasn't. People, including me, tend to think about what's possible based on a range of things we already know to exist. We think "inside the box" most of the time.
I think it's fantastic that someone can sell an outrageously overpriced (by my standards) can of caffeinated soda to so many people, so many times, that they can earn tens of millions of dollars (or more) in profits. Good for them. Unlike liberals who get angry (to cover their jealousy, most likely), my reaction is respect and motivation.
I didn't come to Fiji to think about business, but a capitalist who hears a story like that can't help but have the profit-seeking gears turn a little, even on a sunny island paradise.
|Print article||This entry was posted by Rossputin on 12/23/08 at 12:42:22 am . Follow any responses to this post through RSS 2.0.|