Sagicor Life Jamaica bought the 266-room Breezes Runaway Bay resort, located in Runaway Bay, Jamaica, from SuperClubs.
The property will be rebranded to The Jewel Runaway Bay Resort effective June 1, 2012. The purchase price has not been disclosed. Employees will receive redundancy packages and will be able to apply to be rehired.
“This acquisition increases our investment in the hospitality sector and specifically on the north coast. It is our intention to renovate and expand the hotel,” said Richard Byles, Sagicor Life Jamaica president and CEO.
Sagicor sold the property to SuperClubs in 2003. “We know Sagicor well as we leased the property from them many years ago and purchased it from them. Now we’ve sold it back to them,” said John Issa, chairman of SuperClubs.
