Jamaica’s Urban Development Corp. Sells Bloody Bay Hotel Stake to SuperClubs

Jamaica’s Urban Development Corporation sold its 50 percent share in Negril’s Bloody Bay Hotel, formerly the Grand Lido resort, to all-inclusive operator SuperClubs, confirmed Zein Issa Nakash, a SuperClubs principal. SuperClubs partnered with the UDC to purchase the resort for $9 million from FINSAC Limited in 2000.

The UDC expects to earn “between $5 million and $6 million” from the sale, said a UDC official quoted in the Jamaica Observer. SuperClubs is preparing to sell the 22-acre property to Blue Diamond Resorts, a subsidiary of Canada’s Sunwing Travel Group, said Jamaican government officials quoted in the Observer report. Nakash declined to comment on the reported sale of the Bloody Bay Hotel to Blue Diamond Resorts.

Blue Diamond is expanding its Jamaican presence. The company purchased another former SuperClubs property, the 350-room Breezes Trelawny Resort & Spa, in March 2012, spending $40 million to refurbish the property, now re-branded as Memories White Sands Beach Resort & Spa.

Source: Travel Pulse, http://www.travelpulse.com/jamaicas-urban-development-corporation-sells-bloody-bay-hotel-stake-to-superclubs.html