TOP RESORT IN SEYCHELLES TO CHANGE HANDS – SUBJECT TO GOVERNMENT APPROVALS
(Posted 27th July 2018)
It was learned overnight from a regular source in Victoria / Seychelles that Banyan Tree Seychelles was to be sold at 70 million US Dollars to an unnamed investor from the Middle East. It was pointed out that the management of the resort would however remain in the hands of Banyan Tree – no change there – but that the company was seeking to cash in on an asset to invest the proceeds elsewhere.
Government approval will be required before the transaction can be legally completed as Seychelles law and regulations require when the sale of land is involved.
Added information also suggests that the new investor, once the transaction has been completed, is intent to invest additional resources in the resort to upgrade and modernize it to retain its five star rating.
For more information about Destination Seychelles check out www.seychelles.travel