Sandals Confirms Responds to Sales Buzz

Sandals’ parent company Sandals Resorts International has confirmed it is “exploring options” amid reports it is seeking investment.

Reuters reported on May 10 that Sandals had hired investment bank Deutsche Bank AG to explore several options, including selling the business and selling a majority stake in the company.

A sale would mark the first change in ownership for the company since it was founded by Gordon "Butch" Stewart 36 years ago.

It has developed to become the largest non-governmental employer in Jamaica and has resorts across the Caribbean.

A Sandals Resorts International spokesperson said: “Sandals Resorts International is exploring options to accelerate the company’s long-term growth and development plans. This is not new. Meanwhile, it’s business as usual.”

In the UK, Sandals operates under the name Unique Caribbean Holidays Limited.

Source: TTG Media