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Sagicor X Fund Hotels Generate $5.5b Revenue

RohanMillerSagicor

Sagicor Real Estate X Fund’s hotel portfolio generated more than $5 billion of revenue for the company in 2015 amid signals that the out-turn will be even better this year when the business from its latest acquisition is fully factored into its accounts.

The DoubleTree convention hotel in Orlando, Florida, was purchased by Sagicor X Fund last September.

Overall, the company achieved revenue of $6.6 billion, split between the hotel portfolio at $5.56 billion and returns on its investments at over $1 billion.

The company offered no guidance on its revenue projections, but said FY 2016 would “reflect a full year’s performance for the DoubleTree, which we acquired in September 2015, as well as improved performance from the newly renovated properties – Jewel Runaway Bay, Jewel Paradise Cove, and Hilton Rose Hall”.

Published in the Gleaner
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