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Sagicor acquires Hilton Rose Hall Resort and Spa

Published:Tuesday | October 7, 2014 | 9:31 AM

Janet Silvera, Senior Gleaner Writer



WESTERN BUREAU:

Sagicor has now made its way into the tourism capital, Montego Bay, with the acquisition of the Blackstone Group-owned, Hilton Rose Hall Resort and Spa.




The deal was reportedly sealed last weekend, while Hilton made the announcement to its staff Monday afternoon, telling them that the new owners are expected to take full control by January 7, 2015.



This would bring Sagicor-owned properties on the island to four.



The company already owns, Jewel Dunn's River, Jewel Runaway Bay and Jewel Paradise in the parish of St Ann.



The 489-room hotel is valued at USS$100 million, however, it is not clear how much it was sold for.



The Gleaner understands that the prospective buyers were narrowed down to two Jamaican and one Mexican-owned company.



The two local entities are the Hendrickson Group of Companies and Sagicor.



Sagicor properties are operated by Aimbridge Resorts and it remains unclear if the Hilton resort will continue to carry its name or become a Jewel Resort.



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