ST JOHN’S, Antigua (CMC) — The Government has entered into an agreement with chairman of Sandals Resorts International (SRI), Gordon ‘Butch’ Stewart, for the sale of the Halcyon Cove Hotel.

Tourism Minister Ascot Michael has confirmed that in order to facilitate this, the lease now held by Rex Resorts for the hotel will be terminated within the next two months.

Michael told the Observer in Antigua that “negotiations have reached an advanced stage with Mr Stewart and we hope to close an agreement within the next 60 days or so”.

Michael said the hotel, located in Dickenson Bay, will be demolished under the new deal.

“Butch Stewart is very interested in knocking down the entire hotel,” Michael said. “He’s building a 250- room Sandals hotel there with additional spas and amenities and restaurants similar to the Sandals Grande Resort down at Dickenson Bay.”

The new resort will be built in addition to the Beaches Resort that will be constructed at Long Bay, starting in 2016.

The Government plans to compensate Rex Resorts for the time lost on the lease. Yesterday, Stewart, who is also chairman of Jamaica Observer, confirmed the development and commended the Antigua Government for its help.

“The resort adjoins Sandals Grande Antigua.

The Government has done everything possible in order to make this project feasible,” he told Caribbean Business Report.

“We’ve been representing Jamaica in Antigua since 1991,” Stewart added, “and we are proud to have, mounted in the lobby, a photo of our prime minister, Portia Simpson Miller.”

He noted that SRI has spent huge sums of money on expanding and modernising the 11 hotels it operates in Jamaica and is “engaged in serious discussion” with the Government in relation to further expansion.

“We’re the largest employer in the hotel sector in Jamaica and earn more foreign exchange for Jamaica than any other group,” he said. Stewart pointed out that while his resort group travels the world bringing business to the Caribbean, his home, Jamaica, is very dear to his heart.

“We go to extraordinary places with fabulous people, and we want others to do the same, and any help we can give, we will,” he said, “but, of course, there’s no place like home.”