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Cap Juluca Sold to New Investor SyndicateApril 16, 2008 By: Joe Pike
It was announced last week that the popular luxury resort Cap Juluca in Anguilla was sold to an investor syndicate led by noted travel industry executive Adam M. Aron.
Cap Juluca was developed in the 1980s, and has been open to guests for approximately 20 years. Since 1997, it has been owned continuously by Dion Friedland, a private investor and entrepreneur. Terms of the purchase were not disclosed. The new ownership’s plans include a massive investment of about $80 million to fully renovate the resort, including the addition of new guest amenities, as well as the sale of a limited number of residential villas at the property. The hotel’s existing employee force will remain in position before, during and after the renovation. The hotel renovation will be performed in phases, allowing the resort to remain open throughout. In addition, an all-new spa, retail shops and resort pool will be created on property. Utilities, systems, and facilities will also be upgraded, including enhanced facilities for the employees of the resort. No timetable on when the project will begin or when it will reach completion was released.