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Business News
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Saturday, 17 November 2012 02:30
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By caribarena news
Antigua St. john's - Gordon “Butch” Stewart recently backed away from a planned major new hotel development in Antigua due to local political wrangling.
But the Chairman of the Sandals resort chain is definitely keeping to his word that the US$100 million formerly earmarked for construction of a new Beaches brand property at Long Bay would be reassigned to other Caribbean islands that are more welcoming of his proposed investments.
Following confirmation that Sandals was expanding in St. Lucia (where it already owns three major properties) as a direct consequence of the Long Bay pullout, Grenada appears to be the other territory benefitting from Stewart’s rethink of his Antigua investment plans.
Sandals Resorts International (SRI) parent company of Sandals Resorts, Beaches Resorts and Grand Pineapple Beach Resorts – announced a few days ago that it has purchased the LaSource Resort in Grenada for an undisclosed sum.
A press release from Sandals said “The agreement to acquire the resort was successfully reached after ongoing discussions with the Government of Grenada, and represents the brand’s first property in this Eastern Caribbean country.
The statement quotes Butch Stewart saying that “After looking to expand (in Grenada) for more than a decade, we are delighted to confirm the acquisition of our first ever resort in Grenada and are incredibly proud to have found the perfect location to add to our brand. We are confident that guests will continue to be impressed by our tradition of exceeding expectations through innovation and unwavering service, which has become our standard across the Sandals Resorts brand. We are eager to make our debut and share with guests not only the beauty of our new resort, but to share the beauty of Grenada, its culture and its people.”
Said the release: “The property, which is located on the exclusive Pink Gin Beach . . . will become Sandals LaSource Grenada Resort & Spa, and will open following certain enhancements customary to the Sandals Resorts brand. Once complete, the resort will have added nearly 100 rooms to offer a selection of 200 guestrooms, private cottages and bungalows . . .”
The newly acquired Grenada property is the 14th Sandals Resort in the Jamaica-based company’s portfolio, according to the press release, which adds that “Further details regarding investment, expected launch date, and other confirmed information, will be released in the coming days.”
6 Comments In This Article
How many projects this Govt chased away??
Did they not picket against Jolly Harbor and Carlias Bay?
Even reportedly pulling Gxxs against his own local investors!!!!!!
Wonder which crazy investor going to buy there ''investment Passports''...
Garrat.
@ Tenman - Buccaneer's Business Model!
Have you heard of the Sandaled Buccaneer building from the Ground Up? Try the Turks & Caicos. Research the US investigations on the Money Transfers. Research the importation of Jamaican workers to build the Hotel.
Were workers brought to **enson Bay? Were diseased Palms imported?
You know the decision to leave A&B was not political but based on a Business Model. Grenada is a Mess!
The "Bewildered & Bemused Electorate" should note the addition of two highlights to GoAB's website on November 9, 2012 viz: Citizens by Investment Resources & Long Bay Public Park Presentation. Don't be fooled! This is Not a Dead Issue. If the people are not vigilant given the disarray by the Gang Of Four, this will come like a Thief in the Night.
In Business Never Get Angry, Get Even! Oh gad! Pray Wid Mi!
John French II
we aren't this bad
Quote:..
tenman
Congrats
Only in Antigua
Go In Peace And All The Best! PT2
Here is the State Dept to Investors: St. Lucia: Quote:
http://www.state.gov/e/eb/rls/othr/ics/2012/191226.htm A&B:Quote:Read St. Lucia's PM on Crisis in Caribbean News Now. Failed States.
John French II
Go In Peace And All The Best!
Do you know this Buccaneer killed the minimum wage incresse on Helen 5 yrs ago. Still has not changed From $5.50EC. Helen is waking up this kith & kin of Buccaneer & Governor of Jamaica Sir Henry Captain Morgan. www.caribbeannewsnow.com/topstory-Concern-expressed-over-resort-eConcern expressed over resort expansion in St. Lucia xpansion-in-St- Lucia-13357.htm l
Quote:Buccaneers adhere to Colonial Model. It is only Business!
John French II
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