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Will The Viceroy Anguilla No Longer Be a Viceroy Hotel?

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  Site Where: Barnes Bay, West End, Anguilla
July 28, 2010 at 12:32 PM | by | Comments (0)

On the heels of celebrity newlywed guests, Orlando Bloom and Miranda Kerr, comes stunning news that The Viceroy Anguilla has been sold. Even worse, it may no longer be a Viceroy Hotel.

The Daily Herald, a small island publication, reports that the hotel, which only opened last December, has been sold to Starwood Capital, ole' Barry Sternlicht's company. (Remember, Starwood Capital is different from Starwood Hotels.)

As it turns out the previous owners of Viceroy Anguilla (that would be Viceroy and their partner, the Mubadala Development Company) had not completed its loan payments, forcing Citibank to come in and take over the property. It was Citibank who completed the sale of $500 million to Starwood Capital.

The sale is awaiting some finalization from the Anguilla government but already Starwood Capital has detailed their plans for the hotel:

Starwood which is planning to put US $16 million into the project this year is also planning to build a conference centre as well as volleyball and a basketball courts on the property.

Since there are also residential villas for sale on site, Starwood Cap hopes to fold them into the rental pool to generate some cash flow there.

Currently, nothing's changed on the hotel website. It's still a Viceroy Hotel Group hotel and they've even brought the GM down from Viceroy Snowmass to take the reins over there.

Plus, room rates are still "healthy." Even with the hotel's special offer of one complimentary night for every night that is booked at the standard rate, rooms still work out to be about $595 a night. As for the fate of the Viceroy name, that remains to be seen at this time. Viceroy Hotels are largely a management group so despite different owners, the experience can remain the same. But when that new owner is Barry Sternlicht's company, things could change. We'll keep you updated.

Got the goss on what's happening with Viceroy Anguilla? Slip it to us!

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