Cay Clubs Strikes Again! Unannounced Layoffs! the End is Near!
This is what is happening, Cay Clubs are struggling to find a way to reorganize. With the growing number of law suits that will require some creativity. Personally, I do not think they have the where with all to accomplish that task.
Today they closed Latitudes Restaurant at Sombrero Resort, in Marathon and rumor has it Cabot's Restaurant as well. There was no prior notice, just "sorry guys we are closed." Forget that they have planned banquets (more law suits) and a reduced but formally loyal customer base. They just closed in a knee jerk corporate manner that means they are a corporation non grata in the Florida Keys. Strong statement? Yes, but I think the facts are there.
Any corporation that cannot schedule closures is in deep pooh. If you have deep pockets you need to take a whiff, this is a prime takeover opportunity. The value of their real estate holdings has dropped by over 30 per cent (an educated guess in my case, you check it out), in the last two years. Fifty percent off is a good sales price is it not? Cay Clubs is defaulting on one commitment after the other. A white knight can take over their budding empire for a song.
Locally, even the mid-management of Cay Clubs is running like rats to avoid the stigma of being associated with the main company. Lower management is stunned. This out of the blue action is evidence of an iceberg with much more below the surface.
If you were smart enough to be sitting on the real estate sidelines the past two years, it just might be time for you to get in the game. Most of the suits against Cay clubs can easily be resolved by someone that has some measure of integrity.
As I look into my crystal ball, I see Cay Clubs regrouping in the Las Vegas area were they may find just a bit more demanding investors.
As always this free advice is worth every penny. This article was submitted for not payment since AC takes forever to publish and I have to beat the local papers. AC does not endorse the views of this author.
Published by captdallas2
Florida Keys life inspires many to artistic endeavor. CaptDallas2 is no exception. Writing songs, music and articles fills his time off the water. From boating to how to wipe your butt, the politically in... View profile
- How to Get Your Pennsylvania Real Estate LicenseAlong with a license to sell real estate, you need to consider the commitment required to be successful. Real estate is not a nine to five job. It is a career commitment that can have you involved seven days a week f...
- The Advantages of Using a Newer Real Estate AgentDon't discount newer real estate agents. There may be many of them, but there are also many of them who bring a higher level of service to their clients.
- Beware Get Rich Quick Real Estate DealsReal estate seminars and get rich quick schemes work for one person at least, the one who sells the you the seminar or book. There are risks involved with real estate and seminars and books are not the way to learn ab...
- Examining the Real Estate MarketReal estate is know to be one of the best of investments but there are many factors that must be considered when investing in real estate
- Advertising Your Real Estate Business on TelevisionAdvertising your real estate business on television is much less expensive than you thought.
- Cay Clubs Losing in the Florida Keys
- Why You Should Visit the Bahamas; Royal Caribbean Style
- How to Become a Real Estate Appraiser: Part Time Work, Full Time Pay
- Acquiring a Texas Real Estate License
- How to Get a Real Estate License in Illinois
- Three Quality Real Estate Agencies in Cortland, New York Reviewed
- Finding a Real Estate Agency or Agent in Ithaca, New York
- Cay Clubs in trouble!
- The law suits are building as the cash dwindles.
- Middle management running for the hills.
12 Comments
Post a CommentAs an update, Cay Clubs is Kaput in the Keys. Latitudes is open under new management, Cabot's is not open but is up for a reasonable offer if someone is interested. There are some plumbing issues that need to be resolved that will cost a few grand.
GREAT BLOG STORY!!!
Ouch! Very bad.
That was the disturbing thing Jenn, they just walked in and gave the staff the option of closing now or waiting until the end of the shift. Off season closures are normal. Cay Clubs just closed the doors and have not mentioned when or if they will be re-opening.
So are they closed just for the season or for good? I hated closing services in Flamingo with short notice for customers (when I worked/lived there), but direction like that is looking at the bottom line and not customer relations.
Actually bullyhater, this isn't a blog, isn't a newspaper, it is your window to the real world. This little article said more than you may think.
Bullyhater, let's put it this way. Would you eat in a restaurant where the staff is told they can close down now or at the end of the day. The staff loses their vacation time, personal days and their job. You want a Pizza bubba? There is just something warped in the management style, like in breeding maybe.
This isn't a newspaper, it's a blog!! There's a big difference between a reporter/journalist and a blogger. It's abot 4 years of education. No one was told to get out while they were eating, brainiac- they just didn't open that day. Didn't you get fired, too? Aha!
Hey Bullyhater, it is normal to close off season. If you have a game plan you let people know ahead of time. If you are clueless and over extended you tell customers to get out we are closed, while they are eating. Cay Clubs is in deep pooh, the property is not! A change of ownership will not be a bad thing.
great reporting, capt. let us know how those lawsuits go