Blue Horizon Hotel and Savannah Beach Club Hotel & Spa, both of which are located in Christ Church, are up for sale.
That was the announcement from Minister of Tourism, Ian Gooding-Edghill, who was speaking in Parliament during the Estimates Debate yesterday in the well of the House of Assembly. Negotiations are currently underway for the divestment of the Savannah Beach Club Hotel & Spa with the Minister aiming to conclude the deal by the first half of the financial year.
“What we have to do is ensure the valuations and all the other impending issues are dealt with,” Gooding Edghill said.
“The board is at an advanced stage (with negotiations) and we believe that the Human Resources will conclude that arrangement in the forthcoming financial year. The sale is also meant for [whoever the buyer shall be] to have the opportunity to further expand the hotel’s footprint, and more importantly, Barbados’ brand experience as a tourist destination.”
Chairman of Hotels and Resorts Limited, Peter Harris, said they are following the guidance of the shareholders to divest both hotels.
For the Savannah Beach Club Hotel and Spa, located in Hastings, this includes the process of swapping the lands of the old police station with the new one. It is a project complicated by the issues over the title of the land but it is believed that it should be concluded by next year. The matter is further complicated by the involvement of the Sun Group Inc.
“The hotel is now leased by the Sun Group Inc,” Harris said. “During COVID-19 Bernie Weatherhead had spent quite a bit of money on renovations, and as a result there was no lease payment, but since then we have started the lease payments. It is not currently at market rates yet but we are getting there. Hopefully we will reach a sale before then.”
However, the sale of the Blue Horizon Hotel, which is located opposite Rockley Beach, is not as far along in its development.
According to Harris, work was being done to end the previous agreement that was reached with the Freundel Stuart Administration and legal advice is being taken to see what options are available. Once completed, the hotel will be valued in order to get the best possible price for it.
Due to the need for its capacity, the hotel must remain in situ and as such the eventual buyer must be somebody who will keep it going and not convert it into something else. They are also in the process of trying to buy the
