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Sagicor’s third hotel a vote of confidence in Jamaica

Monday, December 23, 2013    

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RUNAWAY BAY, St Ann -- President and chief executive officer of Sagicor Life Jamaica Limited Richard Byles said investment in the newly opened Paradise Cove Beach Resort in St Ann and the other Jewel resorts is a vote of confidence in Jamaica.

"It's a vote of confidence

in Jamaica; it's a vote of confidence in tourism, and it is a vote of confidence,

very importantly, in the team that we have here at the Jewel," Byles said during the official opening of Sagicor's third property.

Byles explained that, in

only three years, the

Jewel Resort has built a brand highly recognised both locally and internationally.

In addition, Byles said through the X-Fund, which is listed on the stock exchange, some 1,300 Jamaicans have been allowed to have ownership in tourism business in Jamaica.

"It is our objective to grow that number. In Jamaica, where tourism is so important to our economy, more Jamaicans should be investing in this industry in one way or another, not just working for it, but owning it also," Byles added.

Minister of Tourism Dr Wykeham McNeill has described the opening of the 225-room Jewel resort as a welcome addition to the tourism product.

Recognising that Sagicor has become a major player in the sustainable development of the hotel sector -- opening three hotels in St Ann in three years -- the minister lauded Byles and his team.

According to McNeill, Jamaica has made steady inroads into new markets over the past 12 months, and there is a need to continue increasing rooms to serve the tourism sector.

Dr McNeill informed the audience at the official opening ceremony that Sagicor's investment in Jamaica's economy shows that Jamaica has a welcoming climate for investors.

"This and other investments are proof that Jamaica still offers a welcoming climate for enterprising investors

and that our confidence

of a bright future for

tourism is well founded," the minister said.

The resort is said be everything its name suggests -- a true paradise in St Ann. It's only a few weeks since it opened and already guests at the property have been lauding hotel staff for the quality service.

Scores of people attended the opening of the third

hotel in the Jewel Resort chain owned by the Sagicor X-Fund and managed by Aimbridge Hospitality.

-- Renae Dixon

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