CHARLESTOWN, Nevis – THE Nevis Island Administration (NIA) is optimistic that the Four Seasons Resort will reopen by year-end although, if it does, it won’t be under the same ownership.
Premier of Nevis, the Hon. Joseph Parry confirmed at a press conference held in his office yesterday (Apr. 6) that the resort is now in the hands of its receivers - headed by Wachovia Bank – after owner Miles Wolfe walked away.
According to the Premier, the receivers are proceeding with the foreclosure which is anticipated to be completed by August.
He explained that banks don’t usually seek to own hotels; so, naturally they would want someone to purchase it.
“My understanding is that there are a number of potential buyers but I’m not told of anybody who is committed to buying at this time.”
In response to rumours that the NIA is actively involved in the process of finding a buyer, Premier Parry said “that is a matter for the people who own the Four Seasons”.
Parry however declared that, from a government point of view, the resort needs to be reopened as soon as possible for a number of reasons.
“It is the flag ship hotel of the country and the region. It gives hope and optimism; it will create employment for some 600 persons again; it brings revenue to the treasury; and it will take the economy to a higher level of equilibrium than it is at the moment.”
The Premier revealed that even as they seek a buyer, the receivers are proceeding with restoration of the resort with an aim to reopening at the end of the year.
Honorable Parry said he is briefed regularly on developments and understands that so far “things are proceeding very well”.
The Four Seasons’ Resort laid off 620 workers at the beginning of March after months of struggling to recover from the damage caused by Hurricane Omar in October 2008.
