Yes, you read that right. Sandals Resorts, the all inclusive giant is reportedly exploring selling the company. Sandals has been a privately held family business since it’s founding 36 years ago. First to break the news was Reuters. As we find out more information on what, if anything this will mean for current and future guests we’ll be sure to update you here. Sandals has yet to make an official statement on the topic.
Sandals Resorts Sale: Breaking News from Reuters:
Sandals Resorts International, a privately held Caribbean resort operator that caters to couples, is exploring strategic alternatives including a potential sale of the company, according to people familiar with the matter.
A sale would mark the first change in ownership for the company since it was founded 36 years ago by Gordon “Butch” Stewart, who built it into the largest non-government employer in Jamaica and created resorts across the Caribbean.
Sandals has hired investment bank Deutsche Bank AG to explore several options, including a sale of a majority stake in the company, the people said, asking not to be identified because the deliberations are confidential.
The valuation of the company could not be learned, but the sources said it could be worth well over $1 billion, including debt. There is no certainty the move will result in any deal, the sources added. <Read More>