November 13, 2019 | 6:21pm
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A bid to market the Caribbean’s biggest resort string is operating into headwinds — and hurricanes are the culprit, The Post has discovered.
Sandals — whose all-inclusive resort hotels take over the Caribbean resort scene — has been wooing suitors for the two-dozen getaway properties spread across seven tropical-island nations.
The franchise that is family-owned created by previous appliance salesman Gordon “Butch” Stewart in Jamaica in 1981, is angling for a $4.5 billion bid, insiders state.
But due to the fact due-diligence procedure winds straight down, some suitors are growing skittish throughout the cash they may need certainly to fork out to safeguard the properties against violent storms, a source near the auction stated.
“It may seem like folks are getting weak-kneed about making bids, ” the origin told The Post. “The concern is: what is going to function as regards to the insurance coverage. ”
Sandals reps have actually pointed away to suitors that its resorts have actually escaped an unprecedented episode of hurricane harm reasonably unscathed, a source stated. Continue reading Caribbean hurricanes sandals that are scaring bidders