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November 13, 2019 | 6:21pm
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A bid to offer the Caribbean’s biggest resort string is operating into headwinds — and hurricanes are at fault, The Post has discovered.
Sandals — whose hotels that are all-inclusive the Caribbean resort scene — was wooing suitors for the two-dozen holiday properties spread across seven tropical-island nations.
The franchise that is family-owned established by previous appliance salesman Gordon “Butch” Stewart in Jamaica in 1981, is angling for the $4.5 billion bid, insiders state.
But once the due-diligence procedure winds down, some suitors are growing skittish on the money they might need to fork out to guard the properties against violent storms, a source near to the auction said.
“It may seem like folks are getting weak-kneed about making bids, ” the source told The Post. “The concern is: what is going to function as the regards to the insurance coverage. ”
Sandals reps have actually pointed off to suitors that its resorts have actually escaped a bout that is unprecedented of damage fairly unscathed, a supply said.
However their happy background won’t help reduced expenses by much, professionals said.
Hurricane insurance fees throughout the Caribbean are 50 per cent greater than couple of years ago — and 100 % greater if the insured has recently experienced significant damages, in accordance with Ryan Barber, a handling director of insurance coverage giant Marsh. “Caribbean hurricanes sandals that are scaring bidders” の続きを読む