Intention to Acquire Hotel

Grenadian by Rex resorts

by Linda Straker

One of Grenada’s largest properties may soon have new owners, and may be demolished to become the location for a new property. The Government has indicated its intention to acquire the hotel which is located on Magazine Beach.

Member of Government’s new economy investment committee, Hon. Nickolas Steele, has confirmed that Government is presently in discussion with the owners of the Grenadian by Rex Resorts to have an amicable solution to acquire the property.

Steele admitted that Government placed a notice in the Gazette of 5 February 2016, expressing its intention to acquire the 172 room property, which is located at the south of the island a couple minutes from the Maurice Bishop International Airport.

Without confirming or sharing details about the ongoing negotiations for the resort which opened in the early 1990s, Steele said that the intention is for the property to serve in the best interest of the people of Grenada. The land on which property is located is owned by Government and leased to the owners.

He was tight-lipped about whether the property is indebted to Government in its payment of taxes, but indicated that when a tenant is owing a landlord there are different options to settle the outstanding.

Steele who is presently the Minister for Health, once held the portfolio of International Trade, and said that Government is serious about collecting its taxes and it is the opinion of Government that the property is presently not operated in the best interest of the people.

Since the publication of the notice in the Gazette, there has been much speculation regarding the Government’s plans for the property, which is also located a short distance from the Sandals LaSource Resort.

When questioned about the possible new owners, Steele refused to disclose on the grounds that the negotiations are ongoing and details will be made public at the right time. However, many are of the views that another well-known Caribbean brand for families is eyeing the property.

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