Sandals Resorts is adding three new hotels to its Jamaican roster
Sandals is a luxury all-inclusive resort company in the Caribbean
They will transform under the Sandals and Beaches brands the following properties
Two all-inclusive resorts in Jamaica acquired last year
1. The former Jewel Dunn's River Beach Resort & Spa in Ocho Rios and
2. Jewel Runaway Bay Beach Resort & Waterpark
Plus
3. A prime parcel of beachfront land adjacent to the Ocho Rios resort
Playa Hotels & Resorts sold the Jewel properties last year May for US$60 million in cash
... at the time speculation was high that Sandals was the acquirer of the properties
One of the bigger points, is how much renovation will be done
1. The Ocho Rios property will receive a top-to-bottom renovation 2. The adjacent ocean-front land transformed into an additional brand-new resort 3. Runaway Bay resort will also undergo extensive redevelopment
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The 'pandemic stocks' - those battered by the sell-off last year... some of them advanced today...
Including - Main Event 🎸🎤, KLE🍸🍹, Everything Fresh 🥩 & Express Catering🍩
• Main Event had one of its best days ever jumping 36% today, but only 7k units traded. The stock closed at $4.74
Apart from those stocks though
FOSRICH is on fire 🔥
• Up 37% since Jan
• Advancing 6 MONTHS straight!
• This is the 2nd best year for the stock... best year being 2017 when it was listed
Ciboney has released their results for Dec to Feb 2021
Between Dec to Feb, when we were busy pushing up they stock, they were busy paying money out, with no money coming in🤷♂️
They've spent J$1.9m over the last 3 months and made a loss of the same amount as they have no income
They now have $4.2m in cash 💰 vs $11.9m this time last year. So just think of it as their bank balance being depleted slowly
Over the last 9 months they have spent $4.3m on expenses without any income
They are spending on things like
• Registrar fees (to remain as a listed company) - over $1m per year
• Salaries - over $1m per year (cheap don't?)
• Utilities, paying board members, GCT, bank charges, Accountants & Auditors, Consultants, Printing and other office charges