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TOPIC: Hedo_has_been_sold_
Created by: owcangrace
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SuperClubs said Tuesday that it was finalizing the sale of Hedonism II resort in Negril, but that the Issas would retain a stake in the property.

The sale is its second for the year, but the hotel group said the disposals ought not to be read as a disinvestment strategy for Jamaica.

"We remain invested in Hedonism II, however, the transaction today brings in serious and substantial foreign investors who will guide the expansion of the Hedonism brand internationally," said SuperClubs vice-president of marketing and environmental affairs, Zein Issa-Nakash.

On Wednesday, SuperClubs Chairman John Issa announced negotiations to sell Hedonism II to Marshmallow Limited.

Marshmallow is headed by majority shareholder Harry Williams. Partners in the company include Jon Gross of UnWind Travel (Fluffernutters); the Issa family; and Kevin Levee, the current general manager who has worked with the hotel for 28 years.

The shareholdings were not disclosed. The group said in a release that upon conclusion of a deal, there will be a smooth transition of ownership with no service interruption.

"All reservations and tour operator contracts will be honored and the property will not be rebranded and will continue to deliver and enhance the Hedonism holiday," the statement said.

Earlier in the year, SuperClubs also sold Breezes Trelawny to integrated Canadian tour company Sunwing.

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Looking forward to our second home getting even better. Cop..

Philadelphia PA
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Upon completion of the negotiations, Marshmallow Ltd. will execute a $10 million renovation plan at the resort, including room upgrades. In addition, all reservations and tour operator contracts will be honored, the adults-only property will not be rebranded, and the resort “will continue to deliver and enhance the Hedonism holiday,” said Issa.

“Hedonism II is John Issa’s legacy, the concept, formation and operation has so much of him in it,” said Williams in the statement. “It has been a long-term goal of mine to own the resort and to invest the funds needed to enhance its facilities to even higher standards. We are proud that he has chosen to consider us to continue to innovate, modernize and maintain Hedonism II as the leading resort in our industry.”

“This ownership group is ideal and should calm any fears that Hedonists have had about their beloved resort falling into hands that have no understanding or experience in this market,” said Gross, Marshmallow Ltd.’s CEO. Added Issa, “Hedonism II is an important part of my contribution to tourism and I am happy to be in discussions for it to be preserved for many years to come by people that hold it as dear to their hearts as I do.”

Morganton NC
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SuperClubs said Tuesday that it was finalizing the sale of Hedonism II resort in Negril, but that the Issas would retain a stake in the property.

The sale is its second for the year, but the hotel group said the disposals ought not to be read as a disinvestment strategy for Jamaica.

"We remain invested in Hedonism II, however, the transaction today brings in serious and substantial foreign investors who will guide the expansion of the Hedonism brand internationally," said SuperClubs vice-president of marketing and environmental affairs, Zein Issa-Nakash.

On Wednesday, SuperClubs Chairman John Issa announced negotiations to sell Hedonism II to Marshmallow Limited.

Marshmallow is headed by majority shareholder Harry Williams. Partners in the company include Jon Gross of UnWind Travel (Fluffernutters); the Issa family; and Kevin Levee, the current general manager who has worked with the hotel for 28 years.

The shareholdings were not disclosed. The group said in a release that upon conclusion of a deal, there will be a smooth transition of ownership with no service interruption.

"All reservations and tour operator contracts will be honored and the property will not be rebranded and will continue to deliver and enhance the Hedonism holiday," the statement said.

Earlier in the year, SuperClubs also sold Breezes Trelawny to integrated Canadian tour company Sunwing.

Morganton NC
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(155 posts)
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TOPIC: Hedo has been sold
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