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Sandals Dunn's River, Sagicor in amicable parting of the ways
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Sunday, November 29, 2009
SANDALS Resorts International (SRI) has advised Sagicor Pooled Investment Fund Limited, the owners of the property at which Sandals Dunn's River Villaggio Golf Resort and Spa is operated, that it will not renew the lease which expires on May 31 next year.
The Luxury Included Resort chain has operated a Sandals resort at that Mammee Bay, St Ann location for the past 15 years and has enjoyed "an excellent partnership and fantastic relationship with the owner which has worked to each party's benefit", a statement from SRI said yesterday.
Sandals said the marketplace for the product had changed significantly and as a result it no longer fitted in the Sandals luxury product range.
"Reluctantly, the decision was made to hand back the property, and the requisite notice was given to the owners. By agreement Sandals will continue operations there until July 30, 2010," the statement said.
"Always concerned about the well-being of members of the Sandals family, SRI leadership have given assurances that every effort will be made to accommodate displaced team members within the chain, whether in Jamaica or across the Caribbean.
"SRI leadership have also indicated that they wish the owners every continued success and will co-operate fully with them to ensure a smooth transition," it added.
http://www.jamaicaobserver.com/news/html...F_THE_WAYS_.asp
Sandals Dunn's River, Sagicor in amicable parting of the ways
</span></span>
Sunday, November 29, 2009
SANDALS Resorts International (SRI) has advised Sagicor Pooled Investment Fund Limited, the owners of the property at which Sandals Dunn's River Villaggio Golf Resort and Spa is operated, that it will not renew the lease which expires on May 31 next year.
The Luxury Included Resort chain has operated a Sandals resort at that Mammee Bay, St Ann location for the past 15 years and has enjoyed "an excellent partnership and fantastic relationship with the owner which has worked to each party's benefit", a statement from SRI said yesterday.
Sandals said the marketplace for the product had changed significantly and as a result it no longer fitted in the Sandals luxury product range.
"Reluctantly, the decision was made to hand back the property, and the requisite notice was given to the owners. By agreement Sandals will continue operations there until July 30, 2010," the statement said.
"Always concerned about the well-being of members of the Sandals family, SRI leadership have given assurances that every effort will be made to accommodate displaced team members within the chain, whether in Jamaica or across the Caribbean.
"SRI leadership have also indicated that they wish the owners every continued success and will co-operate fully with them to ensure a smooth transition," it added.
http://www.jamaicaobserver.com/news/html...F_THE_WAYS_.asp
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