Business

Rewards programme to push Margaritaville sales

BY DENNISE WILLIAMS
Contributor

Friday, February 09, 2018

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Margaritaville (Turks) Limited (MTL) is one of only seven US dollar-denominated stocks on the Jamaica Stock Exchange (JSE), and investors appear to be holding on to the stock.

While there are 67.5 million units available to trade, year to date the highest volume of trades was 8,034 shares. That has resulted in the share price remaining steady at $0.22.

That said, there are sellers who have indicated that they would sell the stock at US$0.30. And so the bid/ask spread of US$0.22 and US$0.30 means that until the buyers and sellers come to a meeting of the minds, the stock's trading volumes will remain low.

However, progress waits for no one, and the directors of MTL have announced a new initiative to boost sales volumes at the tourist destination.

In an effort to drive local business and build passionate fans for the brand, Margaritaville Caribbean Group has launched the Margaritaville Rewards Programme, which is exclusively available to residents of Jamaica.

Under this programme, local patrons can enjoy daytime benefits between 10am and 10pm every day of the week, with discounts up to 30 per cent on select food and beverages. This includes discounts on menu favourites including appetisers, sandwich and burger selections, and local menu items like escoveitched fish, jerk pork, curry chicken, and conch.

Patrons are able to take advantage of these offers at Margaritaville Montego Bay, Negril and Ocho Rios.

Additionally, members can use their rewards card to receive discounts ranging from 30 per cent to 60 per cent off a variety of beverages during club nights.

“The support we have received from our local community over the years has helped to elevate Margaritaville to where we are today, and we are positive that our local customers will enjoy these fantastic rewards,” says Michael Patrick, marketing project manager at MCG. “We are very excited to share this opportunity with our friends, family and peers.”

Currently the market capitalisation of MTL is US$14.85 million.

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