CAP JULUCA ACQUIRED APRIL 9 BY NEW INVESTOR SYNDICATE
LED BY ADAM M. ARON
Former Vail Resorts and RockResorts Chairman leads acquisition of Cap Juluca
FOR IMMEDIATE RELEASE
- Complete property renovation of up to $80 million envisioned
- Sale of limited number of residential villas contemplated
- Government of Anguilla expected to be a partner in new venture
- Silversea Chairman Manfredi Lefebvre to devote his expertise to Cap Juluca as
well
Anguilla, British West Indies (April 21, 2008) -- An investor syndicate led by
noted travel industry executive Adam M. Aron has formed Cap Juluca Properties
Ltd., an Anguillian company, and on April 9th acquired the Cap Juluca resort
located on the island of Anguilla in the Leeward Islands of the British West
Indies. Cap Juluca was developed in the 1980’s, and has been open to guests for
some 20 years. Since 1997, it has been owned continuously by Dion Friedland, a
private investor and entrepreneur. Terms of the purchase were not disclosed.
The new ownership’s plans include a massive investment of monies to fully
renovate the much heralded resort including the addition of new guest amenities,
as well as the sale of a limited number of residential villas at the property.
The hotel’s existing employee force will remain in position before, during and
after the renovation. The hotel renovation will be performed in phases allowing
the resort to remain open throughout.
The Cap Juluca resort is a private self-contained enclave along two miles of the
best pristine white-sand beaches in the Caribbean. It is insulated from the
outside world, yet is only minutes by air or motor launch from St. Maarten, and
is the crown of the luxury tourism industry on the island of Anguilla, a British
dependent territory. Cap Juluca is highlighted by its 18 Moorish guest villas,
five-star restaurants, exotic landscaped tropical gardens, and dedicated and
experienced service professionals who provide an unparalleled level of friendly
and gracious service in a setting of sheer luxury.
Cap Juluca has received one prestigious designation after another. A member of
Leading Hotels of the World, it has been designated over the years by Travel +
Leisure magazine as the #1, #2 or #3 resort hotel in the Caribbean, Bermuda and
the Bahamas. Similarly, it has been repeatedly included in Conde Nast Traveler’s
Gold List, Reader’s Choice Poll and World’s Best Places to Stay. Among many
other publications praising Cap Juluca, Andrew Harper’s Hideaway Report ranks it
the #1 resort in the Caribbean.
Aron, 53, is widely known in U.S. travel and tourism circles. He formerly served
as Chairman and CEO of Vail Resorts, including its RockResorts luxury hotel
company; President and CEO of Norwegian Cruise Line Ltd.; Senior Vice President
of Marketing of United Airlines and Senior Vice President of Hyatt Hotels and
Resorts. He currently serves on the Board of Directors of Starwood Hotels and
Resorts, Norwegian Cruise Line and Prestige Cruise Holdings, owner and operator
of Regent Seven Seas Cruises and Oceania Cruises. In 2007, he was named by
Travel Weekly Magazine to its “Club 33” – the 33 most influential individuals in
travel and tourism worldwide.
Major investors in Cap Juluca Properties Ltd. also carry enormous success and
prestige in the realm of global travel. Prominent among them is Silversea
Investments and Participations Ltd., a Bahamian company, whose Chairman Manfredi
Lefebvre is also the Chairman of Silversea Cruises. Lefebvre, whose commitment
to service excellence on the ships of Silversea is much praised, is also a
European connection for Cap Juluca, many of whose guests come from throughout
the world.
Plans for Cap Juluca include a total renovation of the property, most notably a
complete upgrade to the interiors of Cap Juluca’s 18 guest villas. In addition,
an all-new spa, retail shops and resort pool will be created on property.
Restaurants will be enhanced; and new landscaping and lighting and other new
guest amenities will be added including the development of Cove Bay Beach, Cap
Juluca’s second currently undeveloped beach. Back of house utilities, systems,
and facilities will also be upgraded, including enhanced facilities for the
employees of the resort. The renovation will be environmentally sensitive
throughout, including a commitment to enhancing the natural landscape of Cap
Juluca and its surrounding waters, the exploration of using solar and wind
power, as well as hybrid vehicles. The renovation is expected to cost as much as
$80 million.
As part of the renovation, a select number of guest room villas will be built or
converted for residential ownership.
The Government of Anguilla, , is expected to have significant ownership in the
future of Cap Juluca, as Aron expects to offer the Government of Anguilla a 20%
ownership stake in Cap Juluca Properties Ltd. This public ownership will mean
the people of Anguilla will fully share in the economic progress and financial
returns of the Cap Juluca renovation and residential development.
Commenting on the acquisition, Aron said, “Cap Juluca is without question one of
the finest and most beautiful resorts in the world. With our extensive planned
renovation, and with the help of Cap Juluca’s extraordinary employees, I have
every confidence Cap Juluca will find itself in an even more special place in
the hearts of its guests and residential owners.”
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