The operators of financially-troubled Tranquility Bay, a timeshare property located at Jolly Beach, are exploring their options after closing for almost a year with no re-opening date scheduled.
Jolly Beach Vacations Limited, which operates the timeshare, advised owners last week that they were in negotiations with two overseas companies that have expressed an interest in taking over the hotel.
In the letter dated April 12, William Cooper, chairman of Jolly Beach Vacations limited, said that they are in talks with a U.S. timeshare company interested in leasing the hotel and signing a management contract.
In addition, the local company said that it was also negotiating the sale of the hotel with a Canadian hotel management company and a U.S. marketing company.
Cooper said that the negotiations were ongoing at the moment with both companies completing their due diligence.
Whether the hotel is leased or sold, the timeshare owners will be protected and their investment secured, according to Cooper.
The owners were also advised that the hotel will remain closed until further notice, and no reservations for the timeshare units can be made and no maintenance fees will be due.
OBSERVER media first reported on the troubles plaguing Tranquility Bay in December 2017, when a timeshare owner reached out to us saying that he was getting little or no information from the owners, and he had hoped to get some answers by coming to the media.
Fifty-plus former workers were trying to get what is due to them, including vacation pay with help of the bargaining agent, the Antigua Barbuda Workers Union (ABWU).
David Massiah, general secretary of the ABWU, said he will provide an update on the progress of the matter of outstanding monies due at a later date.