Sunwing buys half of Rex Resorts

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The Sunwing Travel Group, owners of the Royal Antiguan Hotel and operators of the Jolly Beach Hotel, have purchased 50% of the ownership of Rex Resorts and Spa, the government has announced.

The Halcyon Cove Resort, owned by the Government of Antigua and Barbuda, is leased to Rex Resorts for 99 years in 1989.

However, the Government moved to end the lease before its conclusion, since it was certain that Rex Resorts failed to abide by the lease terms.

The matter was litigated and the Government emerged victorious at the High Court level; Rex Resorts has entered an appeal.

According to the government, Sunwing has proposed to develop the Halcyon Cove Resort to a 3½ Star Hotel, to build 200 additional rooms and invest $80 million dollars.

“Sunwing will increase its flights to Antigua by two flights weekly in order to ensure more than 80% occupancy of the Halcyon Resort,” a statement from Cabinet said.

Sunwing has agreed to collaborate with the Government in setting-aside 5 to 8 acres of the 25 acres held by Halcyon, for entry of 100 nationals into the rental luxury-house industry.

Sunwing will end the appeal process but the Cabinet has made a few alternative proposals which will be presented to Sunwing on Thursday, November 29, 2018.

6 COMMENTS

  1. this is such a poorly written article. if the government ended lease arrangements with rex resort, how can sunwing buy 50% from rex resort. ANR where is your editor!!!

    • Sad that you are not educated enough to understand that one has nothing to do with the other. Rex Resort is a Private company. They operate hotels not only in Antigua. But even if it was only in Antigua. The company could lease another property if they wish. Sun Wing looked at the best way to get the property. And they know the present owners are just broke and need money, so they offer them money for 50% of their shares. I trust within a year or so they will buy the other 50% and buy them out completely. What they will do them with the company is what I am not sure of.

  2. WHO IS MAKING THESE DECISIONS? WHY SELL? WHY NOT LEASE?

    ARE YOU SAYING THAT EVERY SQUARE INCH OF THIS ROCK WILL BE SOLD BACK TO THE FORMER COLONIAL MASTER?

    SQUARE INCH BY SQUARE INCH THE PRIDE OF THE NATION IS BEING SOLD TO BUY THE LATEST CELL PHONE. (hope that was over stand)

    Might Arrow HOLD UNTO YOUR PROPERTY AND WILL IT TO YOUR CHILDREN.

    AFTER 50 YEARS IN TOURISM THE GOVERNMENT HAS ANNOUNCED THAT THERE ARE NO EXPERTIES IN 268 TO MANAGE A HOTEL.

    ITS TIME TO CLOSE THE SLAVE FACTORY THAT PRODUCE MAIDS, WAITERS, COOKS, BARTENDERS, RECEPTIONISTS, BELLMAN at Dutchman Bay.

    Huge Insult to a people

    • You also do not understand what is going on here. They bought the shares in the company. They didn’t buy the hotel. The hotel remains the property from the government.

  3. @ Sideline Thanks much

    Actually I did not bother to read the article since transactions of the government usually ends with sale of property and promises of 100s of jobs and millions 100s of million in investments.

    But thanks allot still, nuff respect.

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