Allens to keep Wexford
A company representative for the 80-room Wexford Hotel in Montego Bay says the Allen family is no longer selling the property, which appears on various websites as available for sale.
The Allens purchased the Wexford from Godfrey Dyer in 2006 for an undisclosed price. Since then, they have pursued US$4 million in upgrades, including 20 rooms and seven suites, a parking lot, a new conference centre and the refurbishment of bar, dining, kitchen, laundry and other facilities.
The property was advertised within the last three years on various websites for prices ranging between US$9.5 million and US$12.5 million.
However, a company representative told Gleaner Business last Friday that the owner said he was no longer selling. No reason was given for the change of heart.
The Wexford Hotel is located on Gloucester Avenue, facing the sea.
One of the listings indicate that the property was appraised for US$16 million to US$18 million in 2013.
Occupancy at Wexford Hotel has been reported in the region of 80 per cent on average.