Wed | Dec 7, 2016

Hendrickson outbids nine for former Wyndham hotel

Published:Friday | August 15, 2014 | 12:00 AM
The former Wyndham hotel on Knutsford Boulevard in New Kingston. - File

Hotelier Kevin Hendrickson is slated to become the new owner of the former Wyndham hotel in Kingston, having outbid nine others during Wednesday's auction of the property by international marketing firm Colliers, through local firm Allison Pitter and Company Limited.

The acquisition will be the fifth property for Hendrickson, who is the already the owner of The Jamaica Pegasus hotel, Courtleigh Hotel and Suites and The Knutsford Court Hotel in New Kingston as well as the Holiday Inn SunSpree Resort in Montego Bay.

He reportedly bid US$17.6 million for the hotel.

Nicola Madden-Greig, group director of marketing and sales, and spokesperson for Hendrickson, said "he won the bid, but there is still a process to be pursued", noting that the sale is yet to close.

The hotel was placed in receivership in 2011 by RBC Royal Bank, which took it over from Ocean Chimo, allegedly for unpaid debt.

Receiver Kenneth Lewis, of the auditing and consulting firm Mair Russell Grant Thornton, subsequently placed the hotel on the market.

Connell Steer, of auctioneers Allison Pitter, confirmed on Thursday that the hotel was given to the highest bidder during the auction, and that there were 10 bids for the hotel.

Steer, however, declined to comment on the price. "Even though it was a public auction, I am not at liberty to disclose the price, as I think I need to leave that to the bank, the lawyers, the receiver and the bidder himself to disclose," he said.

Madden-Greig later confirmed the bid price as US$17.6 million.

Attempts to reach Hendrickson for comment on the latest acquisition were not successful.

avia.collinder@gleanerjm.com