Nov 2014 Financial News

Sandals takes control of Almond Resorts

Nov 04, 2014

Almond Resorts Incorporated, a hotel property located on St, Peter, Barbados has been renamed ABV Investments, according to the Barbados Stock Exchange (BSE).

The hotel, formerly owned by the Massy Group has been acquired by Jamaican hotelier Gordon “Butch” Stewart of Sandals Resorts International, as he expands into Barbados’ tourism sector. With two properties in Barbados, a Sandals hotel in St Lawrence Gap, the old Almond Hotel in St Peter is expected to be converted into a family beach resort.

The Almond hotel has suffered continued losses in recent years and Stewart hopes to turn around its fortunes, Loop Jamaica said.

Source:
Trinidad Guardian, A13
Tuesday November 4, 2014