By the Caribbean Journal staff

Canada-based leisure carrier WestJet Airlines is being sold.

The company has entered into an agreement that provides for its acquisition by the Onex Corporation, a private equity firm.

The transaction value is approximately $5 billion, including assumed debt.

“Since our first flight in 1996, WestJet has been singularly focused on providing better options for the Canadian travelling public and this transaction retains that commitment,” said Clive Beddoe, WestJet’s Founder and Chairman. “I am particularly pleased that WestJet will remain headquartered in Calgary and will continue to build on the success that our 14,000 WestJetters have created. Onex’ aerospace experience, history of positive employee relations and long-term orientation makes it an ideal partner for WestJetters, and I am excited about our future.”

WestJet has long had a strong presence in the Caribbean. Last year, it launched a new low-cost carrier called Swoop that also launched operations in the Caribbean.

“We are delighted to continue the journey of building an airline based on a growing network, providing competitive airfares and more choice to, from and within Canada, for communities large and small. Integral to this relationship is a commitment to our employees, and our unique ownership-driven culture.”

The investment will be led by Onex Partners, the company’s private-equity arm.

— CJ

The post WestJet Airlines Is Being Sold appeared first on Caribbean Journal.

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By Alexander Britell

In what is one of the biggest Caribbean resort transactions of 2019, one of the region’s leading hotels has been sold.

Sugar Beach, a Viceroy Resort in Saint Lucia has been sold, Caribbean Journal has learned.

The 96-room resort is set right at the base of the Pitons in southwestern Saint Lucia, one of the more iconic settings in the Caribbean.

The buyer was Misland Capital, held by the Greene family from Bermuda, which owns that island’s renowned Hamilton Princess resort.

It’s located on 100 acres, most of which are rainforest, on a former sugar plantation that dates back to the 18th century.

Amenities range from plunge pools in every room to Natura Bisse toiletries to 24-hour room service, among others.

The Rainforest Spa.

That’s along with six dining concepts including the Great Room restaurant and Cane Bar, a top rum bar.

And then there’s the Rainforest Spa, one of the most stunning wellness centers in the region.

The beach at Viceroy Sugar Beach.

Sugar Beach was sold by a partnership led by Roger Myers, the British entrepreneur who developed the property more than a decade ago on the Jalousie Plantation and founded the United Kingdom’s popular Cafe Rouge chain of restaurants.

The luxury resort’s sale was handled by global real estate firm CBRE, whose Miami-based office has reportedly sold more than $1 billion of Caribbean hotels and resorts in the last 18 months.

CBRE Hotels’ Christian Charre and Paul Weimer handled the transaction.

Terms of the sale were not disclosed.

It’s not yet clear if the Viceroy brand will be retained.

Viceroy currently has three hotels in the wider Caribbean-Mexico region, along with another planned in Panama.

— CJ

The post Saint Lucia’s Sugar Beach, a Viceroy Resort Sold appeared first on Caribbean Journal.

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By the Caribbean Journal staff

The US Virgin Islands is looking to boost its airlift network in a big way.

USVI Governor Albert Bryan, Jr says a strong “aerial highway” was critically important to the territory’s future.

Bryan met this week with Delta Air Lines’ leadership team in Atlanta, joined by Tourism Commissioner Nominee Joseph Boschulte.

“We have been meeting and talking with airline officials since we took office, and this session here in Atlanta was no different – getting important feedback on the performance of routes into St. Croix and St. Thomas and giving our partners at Delta an update on our tourism rebound and recovery,” Bryan said.

He also pointed to the importance of growing airlift to St Croix.

“The St. Croix airport has been underutilized for years, so we are looking forward to exploring new ways to put people into seats to St. Croix,” he said.

St Croix has seen a strong uptick in air traffic so far this year, according to the Governor.

Of course, adding seats means ensuring the hotel room capacity to fill those seats, and Bryan said legislation would soon be introduced to attract investors to “new hotel and resort projects across the territory.”

— CJ

The post USVI Looking to Boost Airlift to St Croix, St Thomas appeared first on Caribbean Journal.

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