Is O like a timeshare?
No. O has no relationship to that industry. An O Residence owner purchases their property and they can hold, sell or transfer their interest and ownership at any time. Nobody else has any rights to their property and an owner can elect either to have it managed and rented by O when available or leave it exclusively for their own use.
What is the difference between members and owners / residents?
Members have acquired a membership interest to one of O Lifestyle Clubs which gives them the rights to use the on-site facilities at each club location and grants them certain access to off site facilities such as the “Flight Share” System. Members typically live locally to one of O Membership Clubs and visit regularly for their social, leisure or wellness (health and fitness) needs. Owners/residents actually own a residential unit at an O Residences location. This gives them ownership over their unit together with all associated owners’ benefits (aviation package, boating facilities, concierge etc). However every owner also becomes an automatic member with full membership privileges at all O Lifestyle Club locations.
Where can I buy an O Condo or Villa?
O will be developing villa and condominium resort communities throughout Europe, with several inaugural locations currently being developed in Greece.
When can I buy an O Condo or Villa?
O Residences will be available for purchase from early 2022
How can I buy an O Residence with its amenity package?
Due to a limited number of positions, O Residences with their associated private aviation and other amenities are currently only being made available on an exclusive basis to invited applicants.
Invited applicants may currently “reserve’ a potential O Residence. A reservation is not an obligation to buy, but secures a buyer’s position on a reservation list from which they will have the ability to choose a preferred format and style of residence from all available O locations which is then purchased.
Early reservations have a wider selection of residence formats and locations from which to choose their purchase. O Residences can be reserved from December 2021 and purchase contracts will be available from early 2022.
Applicants without an invitation code may enquire about receiving an invitation code by clicking here.
How much will an O Condo and Villa cost to purchase?
Condos will range from 900,000€ to 1,900,000€ and villas will range from 1,500,000€ - 3,000,000€ depending on size, location and positioning.
Will the value of my condo or villa appreciate?
All O Residences will be located in prime and prestigious locations which typically appreciate considerably over time and even with adverse volatility due to recessions or seasonal downturns should eventually appreciate.
How can I guarantee I won’t lose money on the purchase of an O Residence?
Buyers of O Residences are given the option of acquiring a guaranteed buy-back policy at the time of purchase. In exchange for a premium, buyers can acquire a guaranteed buy-back option for five to fifty years which guarantees they can sell their property at some point in the future, for the full amount of their purchase price plus any premiums paid. This system creates a secure basis by which an O owner removes any financial risk from their purchase and allows their long term aviation facilities to achieve a true “no cost” pinnacle. This buy-back policy is issued by www.safeguardloyalty.com and is underwritten by Lloyd’s of London and Swiss RE insurance underwriters.
How can I organize furniture and management of my condo or villa?
All O Residences are sold ”turnkey” to buyers with full furnishing, finishes and equipment. Each buyer will be able to choose from a variety of premium packages including furniture, equipment, décor details, soft furnishings, towels, bedsheets etc. All Residences are fully managed in every way by O, so owners are never burdened with any aspect of their property management.
Can I live full time at O?
Yes. Residence owners of an O Villa and Condo can choose to live permanently or semi-permanently or visit their property as frequently as they like. It is their property to use as desired without limitation.
What if I only want to use my O Villa or Condo for holidays and frequent visits throughout the year and not use the Residence for most of the time?
O Residences have been designed to give optimal benefits to those owners who live elsewhere and wish to benefit from having a luxurious resort property to use as a second home for holidays, short breaks or frequent escapes. When your residence is not being used, it will be managed by O, converted into premium hotel suites and rented as part of O Hotel inventory. Income generated through the rental of your unit is credited towards your O Aviation and amenity package.
Do I get any of the rental income?
No. O will endeavor to maximize the rental of your unit within the hotel platform and will then convert that income into credit hours on your aviation allocation. This income will also be used to cover all your property ownership expenses so you have no financial burden to own or maintain your property or to access all the facilities and amenities available to you.
What services will be available to my condo or villa?
Every O Residence has free servicing to include butler, maid/housekeeping, 24hr room service, 24hr concierge, local car with driver and other “white glove” hotel style services.
What happens to my personal belongings if my residence is being rented?
Upon your departure from your O Villa or Condo, your personal butler will video inventory your unit to mark out specific location of personal items including pictures, décor, decorations, towels, bedsheets and other items. All clothing and soft items are deposited into the units’ personal storage closets which are then sealed and removed in one piece from the unit. These are then safely stored away while the butler replaces generic five-star hotel style bedsheets, towels, wall paintings and décor in the unit for incoming guests. When you give notice of your intended return, the butler reverses this process to ensure you find everything exactly as you left it.
What if I am too busy to use my O Residence and do not use it at all?
That’s the beauty of O. Our owners are busy people with successful careers and demanding schedules, and if this means they are unable to find the time to enjoy their residence for personal benefit, the advantage and value of O can be felt in their professional lives. If an owner is unable to use their residence, it will be rented out as much as possible within the O Hotel platform, thereby generating a maximum credit for the owner, for additional aviation “free” flight hours which can be used in the same year or rolled over to the following year.
What amenities are available to me as an O Residence owner?
An O Residence owner has full “premium“ membership access to all O Clubs and locations internationally, plus exclusive access to the full O Private Aviation Package. The membership amenities will give O Residence owners full access to all the on-site facilities but also free access to O Boats and yachts located at each location as well as O Private Aircraft and Flight Share System.
Can I use any residences at other O Locations?
Yes. An O owner whose residence is managed within the O Hotel Management Program, can use any suite, condo or villa at any O location internationally, at no cost, for up to 40 nights a year. Use of other O locations is treated as an owner using their own residence.
What is O Aviation ?
O Aviation is the private aviation division of O Lifestyle, administering the proprietary fleet of super-mid, mid and light categories of private aircraft, exclusively available to owners of O Residences and O Club members.
O Residences owners are given access to the O Aviation fleet, to use “as if they own them”, at Direct Operating Cost (DOC) only. However, residence owners whose units are part of the O Hotel Management Program are granted O Credits for each night their residence is rented, providing them with up to 40 “occupied” hours per year of zero cost/free use of the aircraft.
All aircraft can be used to fly from/to anywhere in Europe (including UK, Egypt, Israel and Turkey) and other locations by individual itinerary agreement. USA and Caribbean flight arenas will be added in 2022/2023.
What aircraft does O use?
O Aviation fleet is comprised of Gulfstream G200/280, Bombardier Challenger 350 and Cessna Citation Latitude Super-Mid size aircraft, Cessna Citation XLS+ Mid size and Cessna Citation CJ3 Light aircraft. Other aircraft models and classes may be added to the fleet from time to time.
Are there any other benefits to the O Aviation facility?
Yes. O Flight Share System will be operated on the O Phone App and allow every owner and club member to share their respective itineraries on all flights. This will allow owners and members to share the cost/hourly debits, of any flights and minimize empty leg charges.
How can an owner or member use the Flight Share System?
An owner can use the Flight Share System to find users for empty legs of their itineraries or alternatively even allow other owners or members to share their main itinerary leg on a “per seat” basis. If an owner is travelling by themselves or with a small party and takes another member group with them on their flight, for every hour, they will only be debited a portion of that hour depending on how many seats are shared.
Is an owner charged for empty legs?
Owner's free/no cost flight hours are calculated as “occupied” hours with no surcharges for empty legs, positioning or repositioning.
How do I access O Aviation fleet or other amenities?
All owners have access to their personal O Concierge for any facility needs and they can also book flightsor other amenities and services or services directly through the O Phone App.
How quickly can an aviation reservation be satisfied?
Potentially immediately, depending on itinerary. O does not “guarantee” availability within a certain time frame. The aviation facilities have been calculated and will be managed to provide maximum availability to members. However, there may be peak seasons where usage rates are higher and so owners are encouraged to plan itineraries in advance when possible. Most aircraft in the fleet are based in central European locations to accommodate easy and quick positioning.
What happens if a pandemic or other extraordinary circumstances affect O's ability to generate income from my unit?
In the event of any government ordered shut down or other enforced closure of businesses, international borders or other extraordinary factors affecting O's ability to generate rental income from its hotel operation and rental system, O may temporarily suspend the provision of “free” aircraft service, until the extraordinary circumstances have passed. In such an event, owners may still use the aircraft but will during such suspension period be responsible for DOC.
What happens if I don’t use all my free hours in one year?
Unused free hours can roll over “once” into the following year but must be used within 24 months of their initial engagement.
What is O Boat and Yacht amenity?
At every O location, a selection of watercraft will be available between 1st April and 31st October. These will include 30-35ft center console and bowrider speed boats and 45-85 ft sports cruisers and yachts with sleeping facilities of up to six people. The boats and yachts will be provided with qualified captains, however any owners with documented qualifications, may also use the boats and yachts without captains (subject to insurance indemnities). Owners may use any of the boat or yacht facilities free of charge, but will be responsible for the cost of fuel, catering and dockage while in their use. Center console and bowriders can be used for daytime excursions, fishing expeditions and local exploration, while cruisers and yachts can accommodate owners and members for overnight trips to nearby islands and destinations.