Belmond Inks Deal to Buy Cap Juluca in Anguilla

Photo courtesy of Cap Juluca

There were some serious rumors floating around last year of a possible sale of the popular luxury resort, Cap Juluca, in AnguillaTravel Agent can now confirm that the property has, in fact, been sold to Belmond, Ltd.

Charles and Linda Hickox recently announced the sale of the popular and longstanding Greco-Moorish-styled Anguilla luxury resort they developed and have owned for nearly 30 years. 

Known for its architecture and beachfront setting overlooking Maundays Bay, the 95-room luxury property is under contract for sale to Belmond, a luxury hotel and leisure company based in London, and is expected to close by the end of the month. Belmond will operate the hotel.

Cap Juluca is set on 179 acres on the Caribbean island of Anguilla. The Hickox family initially acquired the property in 1984 tapping noted Los Angeles architect Oscar Farmer to design their resort. 

In July of last year, the owners of Cap Juluca, however, issued a written statement informing travel media that they were exploring the idea of selling the resort.

In November of 2011, it was reported that Cap Juluca was facing auction of some of its assets. According to that report, the owner of the property, Adam Aron, had reportedly failed on his payment to the previous owner Charles Hickox at the end of July and still owed some $67 million.

After shutting down briefly, Cap Juluca reopened under the original ownership of the Hickox family on November 15, 2012. Since taking the property back over, the Hickox family has invested more than $12 million into the property, as of July of last year. 

“If and when a sales transaction is determined,” according to last year’s statement, “we will be happy to let you know what the future holds for our iconic property.”

It looks like that time is now. 

Upon completing the acquisition towards the end of May, the company will immediately operate Belmond Cap Juluca and will be ready to welcome guests, according to a Belmond news release.

Belmond expects to carry out a top-top bottom renovation at the end of the 2017/2018 festive season, including the development of 25 new beachfront villas or suites, bringing the resort’s total inventory to 121 rooms. 

The renovation, which will be respectful of the authentic charm of the iconic resort, will also include interior furnishings of all suites and villas; the introduction of new culinary concepts that celebrate the local food culture; enhancements to the spa; and new and renovated public areas. 

After the refurbishment, which is expected to be completed by the end of 2018, Belmond will have invested a total of approximately $121 million in the acquisition and subsequent renovation and expansion of the resort.

Belmond was established 40 years ago with the acquisition of Belmond Hotel Cipriani in Venice and now owns and operates 48 hotel, rail and river cruise experiences in many of the world’s most popular luxury destinations. 

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