Sandals acquires more property in Barbados
The Jamaican-based Sandals group has confirmed its acquisition of land adjacent to its ten acre St Lawrence Gap, Christ Church property.
A press release from the company today noted that this latest move comes at a time when Barbados and its Caribbean neighbours are hard pressed to attract investments to their shores.
“It can also be seen as a display of confidence in Barbados by the company,” the statement said.
In April, the luxury hotel chain began a US$65 million renovation of the 280-room Christ Church property, which currently provides employment for some 600 workmen.
With the latest acquisition of land, Sandals said it intends to further expand its St Lawrence property in the not too distant future.
“This will not only add to the existing Barbados tourism product but could propel further strength in the economy of Barbados and its people,” the statement added.
Sandals, which had earlier entered into a leasing arrangement with the Barbados Government for the Almond Beach Village property in St. Peter, has already confirmed plans to switch to an outright purchase of that property. Today’s release said that many observers believe this move will be “a positive overall for the economy as it enables the Government to reallocate the $600 million Chinese loan to the development of other struggling resorts locally”.
It also said the Group’s unprecedented investments in Barbados continue to be viewed “as a catalyst for the emergence of additional airlift into the destination and stimulating robust marketing efforts, especially on the important United States market”.