THE VALLEY, Anguilla, Wednesday May 24, 2017 – Cap Juluca, a multiple award-winning luxury resort on Anguilla, is being sold for US$84.6 million to hotel and leisure company Belmond Ltd.
The company says it has entered into agreements with the principal owner and three other owners of the 96-room hotel, and the acquisition is expected to be completed by early next month.
When the transaction closes, Belmond will assume management of the resort, which has historically been independently managed, and will rebrand the resort as Belmond Cap Juluca.
“We believe this one-of-a-kind resort presents a compelling opportunity to build on our experience of restoring iconic status to properties with exceptional heritage and stories to tell,” said Belmond’s president and chief executive officer Roeland Vos. “As one of the most recognized resorts in the Caribbean, Cap Juluca is a natural fit for the Belmond portfolio.”
After planning and obtaining all necessary permits in 2017, Belmond expects to carry out a top to toe renovation and develop a further 25 new beachfront villas or suites, bringing the resort’s total inventory to 121 rooms.
The refurbishments, starting after the end of the 2017/18 festive season, are expected to include interior furnishings of all suites and villas; the introduction of new culinary concepts that celebrate the local food culture; enhancements to the spa; and new and renovated public areas.
After refurbishment, which it expects to complete by the end of 2018, Belmond will have invested a total of approximately US$121 million in the acquisition and subsequent renovation and expansion of the resort.