Sagicor Life Jamaica Acquires Third All-Inclusive Resort

Sagicor Life Jamaica, the island's leading life insurance company, has acquired the former Royal Decameron Club Caribbean in St Ann and has appointed an international hospitality company to rebrand it as Jewel Paradise Cove and Spa in line with its other properties.

The purchase price was not disclosed, although Sagicor indicated that it represented a multimillion-dollar capital investment.

Aimbridge Hospitality, a hotel investment and management firm based in Dallas, Texas, and with offices in Chicago, Dallas and Puerto Rico, has been appointed to manage and rebrand the property, said a statement issued on behalf of Jewel.

Sagicor acquired the secluded 225-key oceanfront property in February 2013, but it is just now being made public.

It joins the insurance company's flagship Jewel Dunn's River Beach Resort and Spa in Ocho Rios and the Jewel Runaway Bay Beach and Golf Resort, both also in St Ann, as the third Sagicor-owned resort property in Jamaica, the statement said. The three properties have a combined total of 741 rooms and suites.

Sagicor Life Jamaica President and Chief Executive Officer Richard Byles confirmed the appointment of Aimbridge Hospitality as the management firm for the newly-acquired property, the statement said.

Jewel Resorts branded gourmet and specialty-dining concepts, such as Jade Samurai, Moonstone Italian and the beachfront candlelit dinner under the stars will be developed and enhanced at the new resort.

Source: The Jamaica Gleaner