An outside view of Wyndham Rose Hall.
Janet Silvera, Gleaner Writer
WESTERN BUREAU:
AS EARLY as Wednesday this week, Wyndham Rose Hall may know its fate, as new owners Blackstone close a US$3.24 billion (nearly J$200.6 billion ) merger deal with the company, taking control of some 34 properties owned by the international brand.
Under the terms of the merger agreement, Blackstone, the largest hotel real estate owner in the United States will acquire all of the outstanding common stock of Wyndham for US$1.15 and preferred stock for US$72.17 cent per share in cash.
The 488-room convention style, family-friendly resort located in Montego Bay has not changed hands in 16 years and although uncertainty surrounds the plans Blackstone has for the property, highly-placed sources have said Rose Hall may join the company's new Boca Collection.
"I think that Blackstone shares Wyndham's vision for upscale properties with outstanding customer service and the plans they have for Wyndham they will announce after the close of the transaction," Darcie Brossart, vice-president of communications, Dallas Texas, told The Sunday Gleaner.
Ms. Brossart said she was not at liberty to disclose much to The Sunday Gleaner until after the closure.
DISTINCTIVE DESTINATION RESORTS
Research shows that The Boca Collection are distinctive destination resorts located in Florida, offering conference facilities, golf courses, spas, marinas and private clubs. The brand was purchased by Blackstone last year at a cost of US$1.25 billion (J$77.38 billion).
The Wyndham portfolio adds to lodging acquisitions totalling more than $5 billion (J$309.5 billion), now owned by Blackstone.
Rose Hall, home to Air Jamaica Jazz and Blues Festival, is a large revenue producer for the company.
The Sunday Gleaner has learnt that Blackstone plans to commence major refurbishing of all the rooms at the Montego Bay resort. One of the most important things about this merger is the fact that the 800 employees based in Jamaica will remain with the property, the employees were told at a general meeting recently.
Based in Dallas, Texas, Wyndham International, Inc. offers upscale and luxury hotel and resort accommodations. Wyndham owns, leases, manages and franchises 150 hotels and resorts in the U.S., Canada, Mexico, the Caribbean and Europe.
Wyndham is the largest hotel operator in the Caribbean.
