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<span style="font-weight: bold">News Source: OTGNR - </span>
<span style="font-weight: bold"> Unconfirmed but Corroborated : San...rty ( RJR )...</span>
The Sandals Resorts chain has reportedly pulled out of a deal to purchase a property in the Bahamas. The Bahamian Tribune newspaper reports that the acquisition of the $110 million Grand Isle Villas Resort fell through when the all-inclusive resort chain unexpectedly withdrew from negotiations.According to the newspaper, the turn of events, was considered a big surprise as the sale of the 78 unit property was on the verge of being concluded.However, there is still some expectation that Sandals may at a later date again bid on the Exuma-based property, which remains in receivership.It is reported that Sandals was considered an obvious purchaser considering that the property sits adjacent to Sandals Emerald Bay Resort in Exuma.Adam Stewart, Chief Executive Officer of Sandals Resorts, reportedly said the company would have to expand the Emerald Bay resort if it was to generate a return on its investment.Sandals Resorts acquired that property in 2009.
<span style="font-weight: bold"> Unconfirmed but Corroborated : San...rty ( RJR )...</span>
The Sandals Resorts chain has reportedly pulled out of a deal to purchase a property in the Bahamas. The Bahamian Tribune newspaper reports that the acquisition of the $110 million Grand Isle Villas Resort fell through when the all-inclusive resort chain unexpectedly withdrew from negotiations.According to the newspaper, the turn of events, was considered a big surprise as the sale of the 78 unit property was on the verge of being concluded.However, there is still some expectation that Sandals may at a later date again bid on the Exuma-based property, which remains in receivership.It is reported that Sandals was considered an obvious purchaser considering that the property sits adjacent to Sandals Emerald Bay Resort in Exuma.Adam Stewart, Chief Executive Officer of Sandals Resorts, reportedly said the company would have to expand the Emerald Bay resort if it was to generate a return on its investment.Sandals Resorts acquired that property in 2009.