Popular Caribbean hotel Sandals Resorts International could go up for sale as the company is exploring options for a move that would net it a huge profit.
The resort operates several all-inclusive accommodations across the Caribbean and could get as much as $4.5 billion from a sale.
That the heads are considering selling was revealed to Bloomberg via email from an insider who did not wish to be identified.
Per the email, Sandals “is exploring options to take advantage of the growing global demand for the brand." The source claimed that the company had attempted to sell two years ago but Sandals has declined to comment.
The Jamaica-based company was started up by chairman Gordon "Butch" Stewart in 1981 and has been one of the most popular destinations for honeymooners in the Caribbean. Their website offers luxury vacations for "two people in love."
Sandals runs 24 properties in the Caribbean under the brands Sandals, Beaches, Grand Pineapple, Fowl Cay Resort and Your Jamaican Villas. Properties in Jamaica, the Bahamas, Barbados and four other countries open their doors to over 400,000 guests every year and hosts 6,000 weddings a year.
The island of St. Lucia, which attracts many persons looking to tie the knot or celebrate honeymoons, is home to three Sandals resorts - Sandals Grande St. Lucian, Sandals Halcyon, and Sandals Regency La Toc.
The all-inclusive deals on offer are quite appealing as guests pay one fee for accommodation, food and drink, as well as various other services.
Other large hotel chains had stayed away from such packages for many years but they're now moving towards the model as returning guests have been pushing for all-inclusive deals. Marriot International Inc. is one such company that recently announced plans to offer the packages after Hyatt Hotels Corp. and Hilton Worldwide Holdings Inc. did the same.