The way the town may away be washing $1.4 billion in park redesign
A bid to market the Caribbean’s biggest resort string is operating into headwinds — and hurricanes are the culprit, The Post has discovered.
Sandals — whose all-inclusive resorts take over the Caribbean resort scene — is wooing suitors because of its two-dozen getaway properties spread across seven tropical-island nations.
The franchise that is family-owned launched by previous appliance salesman Gordon “Butch” Stewart in Jamaica in 1981, is angling for a $4.5 billion bid, insiders state.
But while the due-diligence procedure winds straight straight down, some suitors are growing skittish within the money they might need to spend to safeguard the properties against violent storms, a source near to the auction stated.
“It appears like people are getting weak-kneed about making bids,” the origin told The Post. “The concern is: just what will function as the regards to the insurance coverage.”
Sandals reps have described to suitors that its resorts have escaped a bout that is unprecedented of damage reasonably unscathed, a supply stated.