Business Hotel Investment Group Seeks To Purchase The Foster Indigenous Sovereign Hotel, In Its Incomplete stage.

August 2, 2021, 12:56 PM HST
Reporter: Antonio Mancini.
Independent Journalist forum

Accompong Maroon Multi-Millionaire Mr. Dennis Foster, the wealthiest Jamaican Maroon Hotel is drawing European competition for purchase at around US $75,000,000.00.

The Foster Indigenous Sovereign Hotel in the serene hills of the Cockpit Country is located in the historic town of Accompong in the food basket parish of Saint Elizabeth, Jamaica.

The European hotel financial sector says that a group of European businessmen have been looking at the Foster Indigenous Sovereign Hotel for over a year now, the problem is that the owner,  Mr. Dennis Foster is very well known to the European Hotel banking industry, a spokesman for the group told the European media outlets that he got information from Santander Bank group that the Multimillionaire is not in any hurry to sell, he wants the residents and citizens of Accompong Maroon town to enjoy the fruits of his investment, because the Foster Indigenous Sovereign Hotel will attract tourists from all over the World, his hotel will become the Mecca of European and North American tourists looking for a unique experience in the eco tourism sphere, According to Santander banker and interested investors, the hotel is ninety percent completed, if we can purchase it from Mr. Dennis Foster in this stage we would substantially save millions of dollars, when it is  completed you are looking somewhere around one hundred million US dollars ($100,000,000.)That would be in the equivalent at around eleven billion plus ($15,500,000,000.00) Jamaican dollars. So it would be advantageous for us as investors if Mr. Foster will give consideration for the US$ 75,000,000.00 purchase price.

The Foster Indigenous Sovereign Hotel

The Foster Indigenous Sovereign Hotel will boast an international five star resort vacation experience, international style night club, a five star fine dining restaurant, a Las Vegas style casino, conference room, swimming pool, a special medical cannabis dispensary, loads of entertainment and much more.

Mr. Jacque Lamont goes on to say he knows even though Mr. Dennis Foster is Jamaica’s wealthiest maroon multi-millionaire with multi-asset holdings, including being the Chairman of the Jamaican Indigenous Sovereign Investment Group USA. Mr. Foster will be in no rush to sell, the investment group goes on to say, this will be a hotel like no other, the group will be waiting patiently on an answer by the end of the year.

News media tried to reach Mr. Foster who currently resides in North America, to ask him about the deal in selling his hotel, many attempts were made to reach Mr. Foster, unfortunately we were told he is not interested in doing any interviews at this present time, we were told when he gets to Jamaica very soon, he might be available then on the Island to talk, which he calls his home.

The group other investment partners, the Hilton Grand Vacations has completed the previously announced acquisition of Diamond Resorts International, creating the largest upper upscale and luxury timeshare operator in a stock-based transaction with an equity value of approximately US $1.4 billion, according to a press release from Hilton Grand Vacations.

“The acquisition of Diamond Resorts further strengthens HGV’s position as an industry leader, and we are excited to welcome more than 380,000 new owners into our family,” said Mark Wang, president and CEO of Hilton Grand Vacations. “Our combined 154 resorts and luxury properties will create the premier timeshare network for our members and guests, while positioning us to drive long-term shareholder value.”

This strategic combination creates the most expansive industry offering, leveraging HGV’s brand and net owner growth along with Diamond’s diverse network of locations and strength in experiential offerings. Hilton Grand Vacations now will have 710,000 owners, 48 sales centers and more than 20 new markets.

The acquisition used funds managed by affiliates of Apollo Global Management, funds managed by affiliates of Reverence Capital Partners and other Diamond stockholders, the release said.

As previously announced, the Company’s Board of Directors is expanding from seven to nine members, with the addition of two directors designated by Apollo: David Sambur and Alex van Hoek, who both were previously board members of Diamond prior to its acquisition by HGV.

Hilton Grand Vacations’ portfolio currently includes Maui Bay Villas in Kihei,” according to the company’s website. 

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Accompong News is geared at informing the public on Accompong current affairs, Maroon affairs and News from Jamaica & around the Globe. Stay tuned.
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