Russell Real Estate Development Limited ( RRED) has recently invested US$5 million to acquire the Gloucestershire Hotel on the Hip Strip in Montego Bay, which is now operated under the new name – Deja Resort.

RRED, a group of Montego Bay group family members, partnered with two financial institutions, Sagicor and China EX-IM, to secure the 93-room property which is situated across the street from Doctor’s Cave Beach.

“The acquisition of the property ended up costing us US$5 million. We got the support of both Sagicor and (China) EX-IM to put the funds up for us to purchase the property, because they saw us as a good partner and the potential to do well with the hotel,” Robin Russell, general manager of Deja Resort, told the Jamaica Observer.

His sister, Shari Russell Edwards – the resort’s rooms division manager – expressed confidence that the business will be a success.

“We are very enthusiastic about it; it is something that we always wanted to do. This property is an ideally placed location, the clientele that’s already established here is one that we are building on already. We are very excited and we have no doubt that it will be a good venture,” Russell Edwards argued.

Meanwhile, she revealed that, in addition to locals, they will be focusing mainly on the US market, but have also “approached the Canadian market” and are “expecting a good flow from there and also from Europe as well”.

The pair are the children of well-known Montego Bay businessman Robert Russell, chairman of Pier One and former chairman of Summerfest Promotions, promoters of Reggae Sumfest.

After taking over control of the property on April 29, the new owners began operating right away while adding elements of their unique style to the facility, which was reportedly in good condition.

“…So you could say we just continued the operation and are doing daily renovations to bring the property up to a standard that we see fit. We will say, though, that the property was in good condition, but we are just putting our own touches on it as we are the new owners,” Russell remarked.

“We have changed the colours of the outside already… just put on a little brighter colour; we have done the lobby…just splashes of colour to make the property more attractive to locals and foreigners.”

Another change from the original operation is the change from EP to all-inclusive. Russell noted, however, that Deja Resort offers one of the lowest all-inclusive rates in the destination.

“We have changed the concept of the hotel from an EP to an all-inclusive, but what we have done is that we have kept our all-inclusive rate at a level that’s probably the cheapest in Jamaica. So that people are getting all-inclusive for what you would normally pay an EP price,” said the Deja Resort general manager.

“We think there is a market for a three-star. Everybody is going five-star. So we have decided to keep it affordable and I think that’s the market we will do well in.”