Resort: 18-hole golf course (par 72) -EN

Resort: 18-hole golf course (par 72)

Alvaneu resort today - Details and information
The site of the Alvaneu resort covers an area of around 339,819 m². The following provides an overview of the individual areas.

1. The golf course
The golf course site, which is not owned by Alvaneu Bad Golfinvest AG, is either secured by 30-year leases, which are automatically renewed for six years unless cancelled, or tied to long-term easement agreements until 2059. The company is on amicable terms with the lessors and where possible employs family members in the company. In this way, the company is securing a solid basis for future golf operations. Alvaneu Bad Golfinvest AG is also acquiring plots of land from owners willing to sell with the long-term aim of owning the whole of the golf course site. The golf course site has a total surface area of 339,819 m². This includes 23,613 m² owned by Alvaneu Bad Golfinvest AG. Alvaneu Bad Golfinvest AG pays easement compensation of around CHF 120,000 p.a. to the owners of the various plots. The construction costs for the golf course as a whole amounted to CHF 15.9 million and are still carried in the books at CHF 12.8 million. The course is in excellent condition – partly thanks to the topography of the site and partly thanks to course maintenance work, to which great importance has been attached throughout the years. The team of green keepers, and in particular the head green keeper, have an excellent prior knowledge of agriculture, which has been expanded through continuous ongoing training in the specific area of golf. In the green keepers currently on its staff, Alvaneu Bad Golfinvest AG has a team of highly trained employees for the maintenance of the golf course. Payroll costs for green keeping operations amount to just under CHF 400,000 per season.

2. Clubhouse
The clubhouse was built in 2006/07. It houses the infrastructure needed to run a golf club, as well as twelve holiday homes, all of which have been sold. The construction costs for the whole building amounted to around CHF 8.0 million. The investment cost after the sale of the apartments and the pro shop stands at CHF 4.5 million. Today, there is still a mortgage of CHF 2.8 million with the Graubündner Kantonalbank for the building. The club house also contains offices – five workstations and the meeting rooms, which are used by the company and the golf club. The building is in good structural condition.
There are no plans for any major repairs or investments. The building is recognized in the balance sheet and will be sold with the Business.

3. Club restaurant
The club restaurant attaches great importance to regional cuisine. Its family atmosphere and generous hospitality are factors that do not just inspire enthusiasm among golfers. The restaurant has about 100 seats indoors, which can be increased to 150 for larger events, and 140 seats on the terrace.

4. Spa centre
Bad Alvaneu AG invested a total of CHF 8.5 million in the realization of the spa centre. With a book value of CHF 6 million, the centre still has a real estate mortgage of CHF 3.48 million. The building is in sound
structural condition and is very well maintained, as is the golf course. There are no plans for any major investments or repairs. The spa centre is managed in accordance with the highest quality requirements of the supervisory authority. Water quality is checked twice a year by an external laboratory – in Addition to the daily checks carried out by the spa attendant. The spa business is designed to accommodate a maximum of 118 people. At peak times, the flow of visitors is controlled accordingly.

5. Spa centre restaurant
The restaurant, which has been kept simple, is intended to allow visitors to eat a meal before or after bathing. It has approximately 70 seats. The restaurant is open in winter and a bistro is organized in summer. This means that it is not in competition with the golf restaurant. Bathers can also dine in the club restaurant, which offers a broad range of culinary choices.

6. Sulphur spring!
The Alvaneu Bad sulphur spring which is considered one of the best in Europe with an output of 820 litres per minute, it pumps 457,272 m³ of water annually, of which only 7 percent is required
for the spa operation. The sale will include the spring as part of the package.

7. Other properties
In addition to the properties and moveable assets already referred to, another point to mention is the building land for the realization of the hotel business. With a plot ratio area of 30,253 m², it comes complete with an approved district masterplan and is currently owned by Christoffel Bautreuhand AG. The building land and project can be purchased as part of the takeover. In terms of further development, the available building land and the official approvals received in the context of the district masterplan procedure offer tremendous potential for business synergies between the companies.

Awards: The Alvaneu golf course has won multiple awards: - Swiss Golf Award 2007 - First place in 2008 ASG Awards - Golf Guide Award 2011, ranked 46th out of 6,794 European golf courses in 34 countries.

Helen Cabalzar
Cabalzar Projects
Gäuggelistrasse 6
CH-7002 Chur, Switzerland
+4179 423 02 01