Information for Fractional Members
This page is for people (or their pension schemes) who hold TRG Fractional Ownership through a Membership of a UK Company. These people are "Members". If you have received an e-mail providing instructions to log in, you will be able to access up to date statements of account by clicking the link below. This is being rolled out gradually so will only work once you have received an invite. Invites will ONLY be provided to those who appear on the Register of Member of each Company. This maybe a Trustee of a pension scheme, for example. If you hold your Membership through a SIPP - for example - you will need to speak to your SIPP administrator.
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This page provides some guidance notes for both Members who appear on the Register and also people who are beneficiaries of a pension but do not appear themselves on the Register of Members.
Guidance notes - please read carefully
Some general guidance for both Members and also beneficiaries with an interest in the UK Limited by Guarantee Companies that hold interests in TRG Properties as part of a "fractional" interest in resort property.
Am I a Member?
A Member is someone who appears on the Register of Members of a specific Company. This can be a person, a company, or a Trustee. Where people have bought a Membership directly (for example as a cash buyer) they will normally be the Member.
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Where people have made an investment through a SSAS they will normally also be recorded as a Member in the capacity as a Trustee of their own SSAS.
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Where an investment has been made via a SIPP, a QROPS, or a Fund, then the individual will NOT be a Member. The Member will be the Trustee or Custodian of the pension/scheme. In this situation, if you wish to have information on the account for the specific Membership you should contact your pension administrator who will have access to the password protected information.
How do I access a Statement?
In the past TRG would send out statements by e-mail or on paper.
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The system has now changed and Members will be able to access their Statements at any time, on-line through this website.
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As access is being rolled out, starting with Llana properties, Members will receive an e-mail inviting them to register. By clicking the link in the e-mail, they will be able to set up a password and then will have access at any time to the latest available statement ion the webpage. Statements will no longer be sent out by e-mail or post.
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Only Members who appear on the Register will receive this access.
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If you believe you are a Member but have not received an invite to Membership, please contact office@trgfmholdings.com to request access.
Explaining Statements
Each Statement provides the following information:
- Membership - a unique code number allocated to each Membership. Note - a Member can have more than one Membership, and where this is the case the Member will have multiple records.
- LBG Company Name - this is the name of the UK Company that holds the interest in the property and in which Memberships are issued.
- % Held - this represents the % of the Company the Membership holds, and therefore the % ownership of the assets, income and property held by the Company relevant to the Membership. All Memberships together aways add up to 100%
- Resort - the TRG Resort on which the property is based.
- Melia Number - the property is day-to-day operated on behalf of TRG by Melia - this number matches the Melia code allocated for reporting on the room occupancy and revenue.
- Room number - the Hotel Room/Suite/Villa number
The next section of the Statement deals with the performance of the WHOLE ROOM in the Statement period, rather than broken down by individual Membership
- Date of Opening Balance - the date of the last reported Statement
- Opening Balance LBG - the property is managed under a rental and management agreement. Once all costs and revenues are taken into account, this balance shows the total amount owed to the LBG Company by TRG based on the performance of the property up to the date of th Opening Balance where this has not been paid to the LBG Company. Note, it can be a negative figure where costs exceed revenues.
- Date of Latest Balance - the date that this Statement is accurate to.
- Revenue Earned - the total income paid by holiday-makers for the use of the room during the period.
- Costs from Property - the costs of servicing the guests in the room, including fees paid to the tour operator, cleaning, room maintenance, hotel management, etc. It includes Beach Resort Management fees which are a contribution by the property owner to the costs of managing pools, pathways, gardens and other shared facilities.
- Movement in LBG Balance - the profit (or loss) made by the from the operation of the room and due to the LBG Company as a whole by TRG.
- Cost to Operate the LBG - the cost of administering, accounting and filing corporate returns in the UK by the Directors of the LBG Company.
- Net Gain/Loss to LBG - the change in funds available to all Members of the LBG over the period.
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The remaining section applies specifically to the Membership - and is effectively a % split
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- Membership % split of net gain/loss - the value of the Net Gain/Loss allocated to the specific Membership
- Membership share of opening balance - the amount carried forward into this Statement relevant to the specific Membership
- Distribution made in period - the funds sent during this period to the Member
- Current balance - the cash available for future distributions to the Member. This will normally only be distributed where is is over a number that makes sense given the banking costs of sending funds, and where TRG have remitted the funds from the Resort.
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More Info
Members will also have access to a set of updates via this website.