One of the world's best-known resort companies is said to be exploring a sale.
Quoting people it said are familiar with the issue, the Wall Street Journal reports Sandals Resorts International is working with bankers on a sale that could bring in USD$6billion or even $7billion. The Journal emphasized that the company still might not sell.
"Sandals Resorts International ...is restarting efforts to sell itself after years of family infighting following its founder’s death," the Journal said.
Sandals reportedly hired Deutsche Bank to explore sale options in 2017.
Sandals, which operates 20 all-inclusive resorts in the Caribbean under the Sandals and Beaches names, was founded in 1981 by Gordon "Butch" Stewart. He died in 2021, and his son, Adam, took over as executive chairman.
Skift reports the potential move for the Jamaica-based company "comes as the brand makes a multi-million dollar marketing push."
As noted by Open Jaw, the company recently announced a USD$1billion expansion plan for Beaches resorts that will see it double its footprint in five years and add its first-ever properties in Barbados and The Bahamas.
"As a matter of company policy, Sandals Resorts does not comment on market speculation," the company told Open Jaw in an email.
