Sandals Resorts International “is exploring options to accelerate the company’s long-term growth and development plans,” the company said in a statement on Thursday.
The statement was issued in response to a Reuters report on May 10 that said Sandals was exploring strategic alternatives, including a potential sale of the company, and hired investment bank Deutsche Bank AG to explore its options.
Privately held Sandals was founded in 1981 by Butch Stewart and began as a single hotel — the current Sandals Montego Bay.
Today, the company has 15 Sandals resorts, three Beaches resorts, one Grand Pineapple resort, the Fowl Cay private island and four villas in Jamaica.
-Originally published in: Travel Weekly by Gay Nagle Myers May 11, 2017
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