Jamaica’s SuperFun Beach Resort Placed in Receivership

Jamaica’s SuperFun Beach Resort Placed in Receivership

Runaway Bay Developments, owner of SuperFun Beach Resort and Spa in the Runaway Bay section of Jamaica’s north coast, has been placed into receivership by creditors led by four banks, which are seeking to recover $20 million in debt, according to local press reports. The property has been put up for sale by its receiver, PricewaterhouseCoopers.

The resort, which was re-branded from a Hedonism III resort to a SuperFun property in October 2010, is a government-owned property managed by SuperClubs under an operating lease. SuperClubs owns the Hedonism and SuperFun brand names. SuperFun Beach Resort and Spa creditors include the Caribbean Development Bank, Pan Caribbean and the Development Bank of Jamaica.

Earlier this month SuperClubs announced it had severed ties with another government-owned property, Breezes Rio Bueno. Zein Nakash, SuperClubs vice-president of marketing and environmental affairs, said the company would be interested in continuing to operate the Runaway Bay resort under a lease agreement following the sale. The resort opened in 1999 under the Hedonism brand.