Recreational entrepreneur Op de Hoek sells beach hotel in Makkum to pay off debt mountain

These concerns came painfully to light at the end of last year when contractor Van Wijnen suddenly halted the construction of the hotel expansion. Op de Hoek wanted to build an extension with 32 luxury apartments and 25 hotel suites on the beach boulevard. He has owned Hotel Vigilante since 1997. He also owns the villa park Beach Resorts Makkum and the North Holland recreational park Ursemmerhof.

Last year, the recreational entrepreneur found himself in financial trouble when the sale of part of his companies failed. That situation was exacerbated by errors with a hastily introduced automation system. Op de Hoek does not want to say much about the canceled sale at the moment. “I made an incorrect assessment, which has cost me and our companies dearly.”

When he could no longer pay contractor Van Wijnen, the multi-million dollar project was stopped. At that time, ten apartments had already been sold to private individuals. Signs appeared on the fencing stating that the contractor is exercising a lien on the construction site. Op de Hoek’s bank assets were also seized.

Overdue rent payments

The problems were also noticeable at the Beach Resorts Makkum villa park. Invoices from the park’s suppliers were not paid for months, which is why a landscaping company decided to seize invoices here too.

A large number of Dutch and German homeowners, who rent their beach villas to holidaymakers via Beach Resorts Makkum, still have to be paid one or more quarters of rent arrears. These amounts run into the hundreds of thousands. Some owners have taken legal action or want to switch to another holiday home rental company.

Op de Hoek has now appointed a temporary financial director to put things in order. In a letter to the homeowners at the beginning of this month, the entrepreneur apologized. “Your patience and flexibility have already been greatly requested,” he wrote. ‘Financially, the solution is within reach through the use of our own real estate and refinancing.’

Young project developers

To resolve the financial impasse, Op de Hoek looked for a business party willing to take over beach hotel Vigilante, the adjacent restaurant and possibly other real estate components.

These were the young project developers Peter Bosmans and Philip Bakker from Groningen. They are assisted in the background by their father-in-law, real estate investor Pieter Bakker. Their company BB Vastgoedbeheer has grown strongly in recent years through property purchases in other parts of the country. They have been operating hotel apartments in Enschede, Deventer and Apeldoorn under the name The Residence for four years.

The deal for the Vigilante beach hotel was completed in a few weeks, says Op de Hoek. “Bosmans and Bakker gave me a good feeling that the future of the company is secured and they were able to act quickly. I wanted to get out of a difficult situation and this is the best solution.”

Create peace

The aim is for a transfer in August. The future owners want to continue the hotel on the IJsselmeer in its current form and retain the staff, says Peter Bosmans. “It is important to create peace again, to clarify uncertainties and to realize the new construction.”

Bosmans and Bakker had an initial discussion with contractor Van Wijnen. Discussions will also follow with the buyers of the apartments in the new building. It is currently unclear when construction of the hotel expansion will resume.

Van Wijnen states that Op de Hoek’s accounts are still being seized and that the right of retention is still being exercised. “But we are especially happy that we are now in constructive discussions with each other,” said spokesperson Mark Denslagen.

Ursemmerhof

When asked whether Op de Hoek wants to divest more parts, he remains vague. The 65-year-old entrepreneur does not seem to be retiring anytime soon. He still has his hands full with the Ursemmerhof recreation park, which he bought in 2016.

He wants to transform Ursemmerhof, roughly between Alkmaar and the Markermeer, into a luxury villa park, Beach Resorts Noorderduyn. That project has not yet gotten off the ground, but Op de Hoek says: “We are busy with the plans and hope to make a start this fall.”

The judge will first have to rule on this. The chalet owners who have to leave the field have filed an appeal against the termination of their rental agreements.