One of Barbados’ prime south coast properties is up for sale.
The 93-room Savannah Hotel is being sold “via a structured offer process”, according to Terra Caribbean, the real estate company advertising the sale of the property.
“All intended parties are invited to submit their offer on or before October 23, 2019,” the company said in one of its updates.
The Savannah Hotel, which experienced several leased arrangements over the years, was one of three properties under the GEMS of Barbados portfolio, which was managed by Hotels and Resorts Limited (HRL), a government entity.
The sale of the multiple building beachfront property, which sits on approximately 3.32 acres of land, comes several years after it was reportedly leased to the Sun Group.
The other GEMS properties were Time Out at the Gap, which was sold to the Bernie Weatherhead led Sun Group for some $7.5 million a couple years ago; and the Blue Horizon hotel, which then Minister of Tourism Richard Sealy had said he was in discussions with “private sector interest” to get sold.
It was in 2010 that it was revealed that the GEMS project had gone bankrupt after accumulating debts of about $229 million, after its parent company HRL had benefited from government loans of about $145 million.
The Savannah Hotel, which sits on a part of the UNESCO World Heritage Site, consists of 84 standard rooms, eight suits and one junior suit, a kids club, two restaurants, a spa, beach bar and fitness centre and several conference rooms.
According to a brochure, the property was being sold with furniture, fixtures and equipment and “there is no guide price as the property is being sold via structured offer process which commenced on July 31, 2019 and will end on October 23, 2019”. (MM)
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So Savannah is being sold, was advertised by the Terra group since July, and only now revealed to the media.
This said BLP under Arthur conceptualized GEMS, pumped millions of tax payers money into the company, never made a profit, one property previously sold for for seven million, while this BLP was so critical of the selling price for Blue Horizon that they are unable to place a value on the Savannah.
Questions for the government.
1. What loans, Grants, Tax breaks were given to the GEMS group and in which years?
2.How much of the money was actually repaid?
3.Which hotels were part of the GEMS group and who were the original owners / operators?
My concern is we the people were made to endure austerity after Sandiford’s blunders.
The repair work was done with much pain. Arthur had a wash of money, but much of it was wasted with no returns on much of the investment.
It got worst under the next government because they failed to go the austerity route in 2008 when it would have been less painful. Here we are now in painful austerity little less than three decades on with a cabinet constantly in reverse, secretly conducting some critical business, often placing the cart before the horse, after over promising because their focus was solely on, “winning the election at all cost”.
All that I’ve written here, and if the questions are investigated by Barbados Today, revealing the answers. We all would see that both BLP, and DLP makes the same blunders. The timing is all that separates them, makes them look different, and Mia looking whiter than Stuart.
We the people of Barbados need the facts about the GEMS, we need accountability from those particularly who served in the last BLP cabinet and are currently elected members of the house. It can’t be business as usual Barbados Today. It simply can’t be, I am depending on you, as the ladies in Fontabelle have been asleep for years now.
Is this open? Because I am planning to visit Savannah and I want to stay in the southern part because it’s quiet in that part as I read from https://www.visitsavannah.com. They also have a list of the best hotels in Savannah GA and a travel guide to the place.
motorists slain in Williamsport filming
WILLIAMSPORT, pennsylvania. A take shots Friday overnight flew the relationship of 16 thai beauty year old Riley McDowell. his bereavement has left bloodline ravaged, special the 14 yr old aunty, Aslynn Guthrie.
“because i’m just irritable, i am loony merely. he still was just, want, now crazy and additionally capable of taking everything that as a faiytale, Guthrie outlined. “thus, I thought about being more of that ranking because, for example, and thus set on all kinds of things,
McDowell’s clan speaks he was formerly position to leave for a task Corps workout solely three days marriage and energy. as they thing to consider he was probably giving away a basic Friday evening hours along with boyfriend in addition,yet your darling household; they discovered the sad news bulletin. cops encountered any physique all along country Avenue roughly 3rd plus 4th places.
“these are brilliant small, these types of come surrounding. in which respite curfew, They imagine these companies got. afterwards in the course of, clearly girls, supposed Sandra Guthrie, McDowell’s cousin. “they are not produced for stuff like this. in no way thought in a thousand lengthy thought we would be burying one of their own,
“as well as instructed once or twice should this be a purposful rrncident, is bunch associated and even a whole lot that adheres to that, Williamsport arrest leading Damon Hagan stated. “as soon as possible, We haven’t any evidence of that right now. we will exactly proper through to leads,
never,no arrests have occurred regarding the the shooting, and yet public admit they get some business leads and the ones useful. i would say the teen’s child expectation rights likely be dished, for now, might talk about having Riley a complete farewell.
we’re trying to book to go back to the savannah beach hotel but cant get anything on any website not even virgin
funny thing…to date no word from the present government as to weather the Savannah hotel was in fact sold or not..
Does anyone have an update on the Savannah Beach Hotel, like when is it reopening?
Any update on the Savannah Beach Hotel?