The Caribbean resort chain Sandals Resorts International has reportedly begun an effort to sell itself, according to Bloomberg. The company previously considered a sale in 2017. Sandals is based in Jamaica and operates all-inclusive resorts in the Caribbean region It is estimated that the firm could be worth as much as $4.5 billion if it does go on sale. The sale is under consideration as the company explores its options to benefit from the increasing international demand for the Sandals brand. The firm is working with an advisor concerning the sales process, which would be helpful in providing resolution to certain planning matters.
Sandals is responsible for the operation of 24 properties in the Caribbean area under its brand. These include Sandals, Beaches, Grand Pineapple, Fowl Cay Resort and Your Jamaican Villas. The properties are located in Jamaica, the Bahamas, Barbados, and four other nations. The resorts book over 400,000 guests and host 6,000 weddings every year, according to documents obtained by Bloomberg. At the all=inclusive venues, guests pay a single price that includes lodging, food, and other services. Big travel brands had remained out of the all-inclusive segment of the market for some years, but have started to respond to the demand for such accommodations. For example, Marriott International announced it would offer all-inclusive packages after Hyatt Hotels Corporation and Hlilton Worldwide Holdings Inc. also entered the market.