Mexico's Karisma Hotels and Resorts, has acquired controlling stake in the Sandy Bay Beach Resort in Negril.
The acquisition became effective two days ago, and marks the first expansion of Karisma outside of Mexico, where it began 12 years ago.
Karisma did not disclose the financial value of the transaction, but says, it will start operating the Negril hotel on December 1, after a 60 day transition period.
On reopening, Karisma says, it will operate the 130 room hotel, under the name, Seashore Bay Beach Resort.
Karisma says, it will then undertake a multimillion U.S. dollar renovation of the hotel and rebrand it again, as the all inclusive family Gourmet resort, Azul Hotel.
The property was previously operated as Beaches Sandy Bay, by the Gordon "Butch" Stewart led, Sandals Resorts International.
Sandals terminated its 12 year lease arrangement for the property, at the end of September.
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