Former Wyndham hotel back on the auction block
Rudolph Thomas, the senior negotiating officer for the Bustamante Trade Industrial Trade Union (BITU), said on Thursday that former workers of the previous Wyndham hotel in New Kingston should receive payments amounting to 33.3 per cent of the total redundancy obligation owed.
The BITU represents 170 of approximately 300 workers.
Thomas also said he was advised by receiver Kenneth Lewis that the hotel is back on the market for sale.
A spokesperson at Mair Russell Grant Thornton, where the receiver has his offices, confirmed that the hotel will be auctioned on August 13 by Colliers, which is also handling the international marketing of the property.
An attempt at auction last year was cancelled after a fire damaged sections of the hotel.
The former Wyndham hotel was placed in receivership in August 2011. The 303-room hotel, which sits in the prime business district of New Kingston, was acquired by Ocean Chimo in 2008, but was taken over by RBC Royal Bank on claims that Ocean Chimo had not kept up with payments on loans totalling more than US$30m, according to court documents.
Ocean Chimo shareholder Delroy Howell is fighting the bank in court.
BITU's Thomas says the workers it represents will be paid today, June 27.
The payment is expected to be made today, Friday June 27. He did not disclose the amount owed, but said other payments are expected once the property is sold.
Thomas did not disclose the total payment involved, but noted that the remainder was slated for payment when the hotel is sold.