Adam Aron Buys Anguilla’s Cap Juluca

Cap Juluca, a luxury resort on the Caribbean island of Anguilla, has been purchased for an undisclosed price by an investor syndicate headed by travel industry veteran Adam Aron. Aron is a former CEO of Vail Resorts and a former CEO of Norwegian Cruise Line.

Aron is a senior operating partner at Apollo Management, a private equity fund that owns all or part of Harrah’s Entertainment, Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises. He is also a Starwood Hotels and Resorts board member.

The 80-unit, 18-villa Cap Juluca had been on the market for more than a year. The new owners plan an $80 million renovation and expansion program, the addition of new guest amenities and the sale of a limited number of residential villas at the property.

Plans call for the addition of a new spa, retail shops and a resort pool; an upgrade of guest rooms, villas and the five restaurants; the development of nearby Cove Bay Beach; and the use of solar and wind power as well as hybrid vehicles.

Cap Juluca will remain open during the phased-in renovation program. Its 400 employees, 25 of whom have been at the resort since it opened in 1988, will remain during and after the renovation.