Holiday Inn sold to Spanish group

The sale of the Holiday Inn hotel in Montego Bay to Catalonia Hotels & Resorts marks the Spanish company’s entry to Jamaica.

Catalonia already operates elsewhere in the region in the Dominican Republic and Mexico, amid the two dozen markets across which its 75 hotels are spread globally.

Kevin Hendrickson’s company, East Bay Management, announced at midweek that it has entered into a binding agreement with Catalonia to sell the Montego Bay property. The new management will take control on July 1, 2024.

The sale price was not disclosed.

Hendrickson acquired the hotel property in 2008 from IHG for US$30 million. At the time the hotel had 524 rooms.

“When we were approached by Catalonia to consider this sale, we thought long and hard about giving up one of our prime hotel properties, but based on our new strategic direction for the group we felt the timing was right to sell the property,” said Hendrickson in a release regarding the deal with Catalonia.

He described the sale as a difficult decision.

The hotel will continue to operate as a Holiday Inn-branded hotel until June 30.

Hendrickson, under The Courtleigh Hospitality Group, also owns and operates Courtleigh Hotel & Suites and Jamaica Pegasus Hotel. He is also in the process of redeveloping the former Wyndham Hotel. All three hotels sit in a row at the lower end of Knutsford Boulevard in the business and financial district of New Kingston.

Additionally, Courtleigh Hospitality Group holds investments beyond tourism, including property such as the Courtleigh Corporate Centre, also located in New Kingston.

“We have put in place a joint transition team. We will be working with the Catalonia transition team to ensure a smooth handover,” East Bay Management said.

Catalonia didn’t immediately respond to requests for comment on the deal.

business@gleanerjm.com