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Almond Beach going to Elite

Geralyn Edward, Business Editor

Almond Beach going to Elite

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It is one down – two more to go for Almond Resorts Inc (ARI).
On Wednesday, shareholders of ARI voted overwhelmingly to sell the Almond Beach Club at Vauxhall, St James, to Fairweather Holdings Inc., a St Kitts & Nevis-registered hotel outfit that owns and markets several hotels and resorts throughout the Caribbean under the Elite Hotels brand.
The vote, which took place at the now closed Almond Beach Village in St Peter, paved the way for the ARI’s ultimate parent company Neal & Massy to begin the process of ending its troubled foray into the tourism/accommodation when it acquired conglomerate Barbados Shipping & Trading (BS&T) in 2008.
The $33 million offer from Fairweather Holding means that ARI’s board of directors can turn its attention to finding buyers for its other two hotels in Barbados – Almond Beach Village and Almond Casuarina in Christ Church.