Kanoa Lodge — Hôtel Moorea — Polynésie Française

Les Entreprêteurs Commercial real estate Financé

Ce projet est clôturé. L'analyse ci-dessous reflète les informations disponibles au moment de la souscription et n'a pas été mise à jour.

Kanoa Lodge — Hôtel Moorea — Polynésie Française

Fragile

score / 100

Yield

10.0%/yr

Duration

90 months

Min. ticket

100 €

Amount raised

380 k€

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À propos

Construction of a 2-star tourism hotel with 18 bungalows in Moorea (Haapiti), French Polynesia, carried by Jérôme FERNANDEZ via SARL Kanoa Lodge. Project in financing phase, operation scheduled from July 2027. Monthly amortising loan over 90 months at 10% per annum.

Plateforme · 18.5/25

A1 · Statut réglementaire 8.0/8✓ max

Licence agrément AMF AMF fonds propres-2023-28 valid and in force since November 2023
Status verified via live data

A2 · Track Record 3.5/6

Score adjusted based on live data: default rate 0.79% (6/6×0.5=3.0), delay >90 days 7.47% (4.5/6×0.3=0.45), actual versus announced return data not communicated (0/6×0.2=0)
126 mentions on CrowdRevolt document investor complaints regarding delays and guarantee execution

A3 · Rigueur de sélection 2.0/4

Mention of a selection process without published selection rate or complete details
Established platform (2014) and recognised with >850 projects funded

A4 · Santé financière 3.0/4bon

Independent profitable platform, >10 years of existence (since 2014), documented capitalisation €200K, active institutional partnerships
No PLATFORM distress signal identified despite portfolio concerns

A5 · Protection investisseurs 2.0/3

Mandatory 4-day reflection period (licenced agrément AMF) plus legally required business continuity plan (1/3)
Segregated accounts probable but not explicitly documented in provided data (0/3)
No secondary market mentioned (0/3)

Projet · 30.0/75 (35.0 brut, red flags −5)

B1 · Instrument & Structure 8.0/10bon

B1.1: 5/5 - Fixed-rate loan 10%, French law/agrément AMF, clear instrument

B1.2: 2/3 - Direct borrowing SARL Kanoa Lodge, no société dédiée (SPV), local law French Polynesia (overseas collectivity, civil law applicable)

B1.3: 1/2 - No known senior debt; simple unsecured bond ranking de facto first, not registered

B2 · Opérateur & Track record 6.0/15faible

B2.1: 4/4 - Jérôme Fernandez appointed manager, email provided, LinkedIn profile found

B2.2: 1/5 - Property conversion, 0 hotels delivered; adjacent experience (restaurant, self-employed nurse)

B2.3: 1/3 - First operation on this platform; no verifiable crowdfunding history

B2.4: 0/3 - Legal status not confirmed (SARL PF, register not verifiable in live data); internal scoring C by platform credit analyst

B3 · Garanties & Sûretés 7.0/15faible

B3.1: 4/9 - Notarised personal guarantee absent (private deed only); mortgage 4th rank on operation land and 2nd rank on Papeete warehouse (weak ranks). Non-notarised personal guarantee = 2 pts + mortgage degraded by rank = max 4 pts retained

B3.2: 2/4 - Declared assets: PR 800K€/liabilities 385K€, warehouse 600K€/liabilities 120K€, land 860K€/liabilities 125K€; net assets ~1.63M€, but weak-rank guarantees reduce actual solidity

B3.3: 1/2 - No identified named banking partner; amount <€2M, no RF2

B4 · Structure financière 8.0/15

B4.1: 2/5 - Crowd 13% of financing plan; Loan-to-Value (ratio prêt/valeur actif)/Loan-to-Cost (ratio prêt/coût total) on hotel asset not precisely calculable; RE-COM position, limited EP debt but hotel IRR not explicitly documented

B4.2: 2/4 - fonds propres committed 118K€ out of estimated total ~2.9M€ (crowd 380K+remainder), i.e. ~4%; very low operator contribution

B4.3: 2/4 - taux de couverture de la dette ~2x announced from year 1; but stress test −30% not documented; low Loan-to-Cost (ratio prêt/coût total) partially compensates

B4.4: 2/2 - EBITDA >20% turnover announced, cash flow covering EP annuity, solid operating profitability per forecast

B5 · Pré-commercialisation 2.0/10faible

RE-COM: No lease or LOI signed for hotel; greenfield hotel project without signed distribution contract
Positive market study (underserved mid-market niche Moorea) but no firm commitment
French Polynesia tax incentives approved (April 2026) = minor favourable signal
Score 2/10

B6 · Permis & Maturité 2.0/5faible

RE-COM: Moorea land asset declared in patrimony (860K€), suggests acquisition completed; but no confirmation of authentic deed in file
Building permit not mentioned as obtained or registered
Score 2/5 (acquisition likely under promise + DP hypothetically in progress)

B7 · Marché & Localisation 2.0/3

Score adjusted via live data: Paris office market declining (live data) not applicable here - hotel project Moorea PF
French Polynesia tourism strong, mid-market niche underrepresented in Moorea, French Polynesia tax incentives 2026
Established and favourable market for this specific segment
Score 2/3

⚠ Alertes détectées · −5 pts déduits

Aucune garantie réelle sur ce projet −5 pts

No first-rank guarantee registered - 4th rank mortgage (land) and 2nd rank (warehouse) without first-rank real guarantee; non-notarised private deed guarantee; on 380K€ loan.

Points forts

✓Mid-market hotel niche in Moorea identified as underserved per market study.

✓Forecast EBITDA >20% of turnover with DSCR ~2x from first year of operation.

✓Crowd represents only 13% of overall financing plan, limited exposure.

✓Polynesian tax incentives approved April 2026, local institutional support.

✓Competent technical team: DPLG architect, 15-year Pacific project management, hotel consultant PAC.

Risques identifiés

!Operator without documented hotel experience; recent conversion from medical sector.

!Guarantees of very weak rank (4th rank mortgage, non-notarised guarantee); uncertain recovery.

!Exceptionally long 90-month duration for crowdfunding; exploitation risk over 7.5 years.

!No building permit confirmed obtained or registered in file; construction not started.

!Internal scoring C (Les Entreprêteurs) indicates high credit risk profile per platform own criteria.

⚠ Avertissement sur les risques

Investir en crowdfunding comporte un risque de perte partielle ou totale du capital, ainsi qu'un risque d'illiquidité. Selon le baromètre France FinTech / Forvis Mazars 2025, 25 à 30 % des projets accusent un retard de plus de 6 mois et 4 à 6 % entraînent une perte définitive. Ne placez jamais plus de 5 à 10 % de votre patrimoine en crowdfunding et diversifiez sur au moins 10 projets. CrowdPickr est un service d'information indépendant, non agréé en tant que conseiller en investissement. Les analyses présentées ne constituent pas un conseil en investissement personnalisé.