en portefeuille

10:04 Nov 21, 2012 

Your help is always appreciated :-)

10:01 Nov 21, 2012 

I think it is some way beyond the investment stage, you might perhaps say "2 under construction and one on the drawing board"

'underway' is perhaps not the ideal term to use here; it fits well for soemthing abstrcat like a project or process, but less well for something physical like an hotel; unless it is a ship, of course, in which case 'underway' takes on a quite different meaning!

09:57 Nov 21, 2012 

I think I'll get around the problem by saying the hotels are "underway", with two in construction at XXX and XXX and a third still at the investment stage. If you have any more elegant suggestions, I am open.

09:55 Nov 21, 2012 

Make that "discrepancy"!

09:54 Nov 21, 2012 

As you say, Tony, it is the discrepency that is troubling here. At least I know I am on the right track. Thank you both.

09:51 Nov 21, 2012 

That was what first went through my mind too, Veronica! However, it would rather suggest the company is stretching the truth a bit, since one can hardly say 'currently under construction' for something that is still at such an early stage!

I suspect it possibly means that we have a 'hotel package' all ready and waiting to build on the site of your choice — though this can still hardly really be described as 'under construction'.

In view of this apparent discrepancy, I'd be inclined to check with your customer, just to make sure.

09:50 Nov 21, 2012 

That's what it seems like to me too, although I'm unsure of the best way to translate it. "Portfolio stage" seems too literal a translation.

09:39 Nov 21, 2012 

I first interpreted this as meaning "still at the investment stage". That is to say, the developers are still gathering investments.

08:34 Nov 21, 2012 

They indeed are!

08:33 Nov 21, 2012 

presumably XXX are place names?