Shakti Cove Cottages

Shakti Cove Cottages is an up-and-running, solvent business that has an excellent reputation with our guests and the local community. It has been self-sustaining for the entire time we have owned it (with the exception of some initial capital contribution upon acquisition to upgrade the entire electrical system). That initial output has been more than made up over the years. The Cove has provided us with a comfortable lifestyle and we have not had to work outside of the business to make it. Throughout 2003, The Cove also sustained buying out my former business partner when we dissolved that union. All major repairs, remodels and upgrades have been performed with Shakti revenues. And speaking of revenues, they have increased and more than doubled since we took ownership in 1995. We usually run at an average of 40% occupancy for the year. This is comparable to many of the more successful Peninsula lodging establishments in the area. Shakti Cove is very definitely a destination kind of place. We also have a loyal return clientele that come annually, and some of these great guests come a number of times throughout each year. Most of our guests come with reservations as we are off the beaten path. This is in our favor! In the 12 years that I was on site, I can count on just two hands the amount of rowdy guests that we have had. I continue to find it fascinating how just the right type of people find The Cove. Yet, there is room for more marketing, more growth and more revenue. I might also add that Shakti has sustained itself throughout the worst of our country’s recent recession. Business did take a bit of a hit, but the uniqueness of the place, AND our reasonable rates, continued to draw a steady stream of guests seeking respite from the stress of city life. I will, of course, be happy to go into more detail on the financials with serious, pre-approved interested parties.