Island Outpost is in negotiations to sell its Love Beach-based Compass Point resort for an undisclosed sum, sources have revealed to The Tribune.
The company, which has 11 small resorts in its chain, and its founder, Chris Blackwell, said by sources to be in advanced talks to sell the resort to Bryan and Jennifer Hew, the designers and property managers of Andros-based Kamalame Cay. Island Outpost executives could not be contacted for comment.
Kamalame Cay, a 96-acre private island with a three-mile sand beach, already uses Island Outpost to provide marketing and reservation services, sources told The Tribune. The resort is advertised to potential clients on the Island Outpost website.
The Tribune understands that Island Outpost has had difficulty in earning the expected returns from Compass Point, which features 19 units and is targeted at high net worth individuals seeking exclusivity and a relatively quiet retreat, combined with water-based activities.
Compass Point has gained world renown through the Compass Point Recording Studios located across the street from the resort. the studios have hosted top recording artists such as Lenny Kravitz, Bob Marley, the Rolling Stones, Jimmy Buffet and Celene Dion. However, it is not clear whether the studios will be included in any deal.
Source: The Tribune
