ET Hospitality World magazine talks to John Spence about staying bullish in what some may call a ‘bear’ hospitality market when it comes to acquiring new resorts.
Over the last year, the Karma Group has acquired (and opened) resorts in areas where travel is still possible for Members.
Says John Spence: ‘What we have seen in India and everywhere else in the world, is that when a consumer can go out to eat and drink, when they can take a vacation, when they can enjoy themselves, they will, and do it with more vigour than before.’
The new resorts include Karma Sunshine Village in Bangalore India, Karma Seven Lakes in Udaipur, Karma Salak set in the mountains of West Java in Indonesia and Karma Salford Hall set in the Vale of Evesham in the Cotswolds, UK.
This is only the beginning for there’s more resort openings on the horizon…
As Australian members we are crying out for more Australian based Karma resorts, noting that Karma is losing Rottnest Island next year. We need resorts on East Coast (Gold Coast and far north Queensland) as well as the West. I know there are many Wyndham resorts in Australia potentially available via external exchange (and at extra cost) but that is not the same. We are being told that it is unlikely that Australians can travel overseas until at least the middle of 2022. The rollover of points is a good move.
Dear Nigel, Karma Group is currently in the process of acquiring new resort locations across Australia, this isn’t a quick process but we will be making an announcement soon for all of our Australian members – Thank you for you suggestion of the East Coast, we will definitely take this on board!!
Yes I do tend to agree with you Nigel, but you can feel sure resorts in India and Indonesia present much better value than the peaking valuations current here in Perth right now. Disappointed to hear Karma plan to withdraw from Rotto, tis a pity, perhaps the lease doesn’t work with John’s business rather successful model. Perhaps an Old hotel in Albany, Esperance, York , Broome could work for Karma. then they could Karmatise it and offer the fractional ownership strategy that’s proved so successful for their aquisitions., but what would I know ?
Hi Keefa, we are extremely saddened to lose our Rottnest resort and did all we could to try and keep our lease! We appreciate your suggestion for new resort locations, as we are currently actively looking throughout Australia – as well as India, Indonesia and Europe!
Well done Karma and thanks for all your support. We moved our holiday in beautiful Karma Minoan, Crete from 2020 to 2021 and have now changed this to Salford Hall in the Vale of Evesham, UK. Looking forward to our visit.
We’re sorry to hear you can’t visit sunny Crete at the moment, but let’s hope the British weather provides some shine during your stay at Karma Salford Hall!!