Fri | Aug 18, 2017

Shaw Park not for sale despite listing - Smatt

Published:Sunday | February 19, 2017 | 2:00 AM

Director of Shaw Park Hotel, Ernest Smatt, says the property is not for sale despite a recent listing on Meldam Realty's website, which noted a price of US$35 million.

Smatt said he had not approved the listing of the hotel, though he had been in discussions with the realtor.

A description of the hotel, along with photographs, was posted advertising the property, but have since been removed by the realtor.

"I don't know who authorised them to do that. At no time did I ever tell anybody that Shaw Park is for sale," Smatt said in a telephone interview. "If anybody looks at any of our properties and they have any interest, [they should] put an offer in writing to me and we'll get back to them, but we have nothing for sale," he declared.

Smatt said the directors have other holdings that they may consider selling, naming 'Club Ambiance in Runaway Bay', but he also amplified that this was only an idea under consideration at this point. Club Ambiance is an 88-room property.

Marlene Williams of Meldam Realty, while noting the initial listing of Shaw Park, told Gleaner Business that the hotelier requested the listing be pulled.

"He said he's taking it off the market. I don't think he wants it marketed to locals; he wants it marketed to overseas," Williams said.

Shaw Park is about 50 per cent occupied now, Smatt said.