This rather intriguing deal from Elite Island Resorts caught our eye (as flagged up by the Evening Standard Wednesday).
Elite Island Resorts Rolls Back Time and Value for depressed U.S. Financial Stocks with a deal of a lifetime
Award-winning Elite Island Resorts — the second-largest independently owned luxury Caribbean hospitality group — announces what could be for many the deal of a lifetime: the opportunity to roll back to the higher value of their currently depressed stocks in this recessionary time! Elite Island Resorts will accept up to a maximum of $5,000 per room transaction in stock, utilizing the stock’s higher value from July 1, 2008!
The stock will be accepted as payment upon transfer to Elite Island Resorts from December 5, 2008, to January 31, 2009, and will be valid for payment of Caribbean vacations now through December 20, 2009. The “Roll Back Your Stock’s Value” promotion is subject to space availability and does not include air transportation. Elite Island Resorts has set aside $10 million in resort accommodations toward this program.
And there are no blackout dates. As an example of what your moribund shares can get you:
The all-inclusive rate for a family of four starts at $635 per night this December holiday season at The Verandah Resort & Spa, Antigua. If one transferred American Express stock, which closed at approximately $20 on December 1, 2008, toward the purchase of their vacation, Elite Island Resorts will value the stock at $40 per share in resort credit. So a seven-night vacation worth $4,445 can be “purchased” with only 111 shares. Approximately 100 stocks are featured in this one-of-a-kind promotion and include;
For a complete list of eligible stocks click here.
We wonder if a few Goldman or Morgan Stanley employees might be inclined to take up the offer? Goldman stock is being valued by the group at $175 (its last closing price was $71) and MS at $37 (last closing price $14.60).
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