Sandals Resorts International issued a one-paragraph statement that neither confirms nor denies whether its founder and chairman Gordon ‘Butch’ Stewart is exploring a potential sale of the company.
On Wednesday, Reuters reported exclusively, citing sources, that Sandals Resorts International has hired an investment bank to explore several options, including selling a majority stake in the more than three-decade-old resort group. Sandals has since issued a statement saying: “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.” Sandals Resorts comprises 24 properties spread across several Caribbean islands, including Antigua, St Lucia, Barbados, The Bahamas, and its home market of Jamaica.