Playa Hotel and Resorts, which operates hotels in Jamaica and the region, booked a $700,000 loss on the sale of Jewel Paradise Cove and Park Hotel in Runaway Bay, St. Ann.
Overall, the hotel management company recorded a dip in quarterly earnings across its hotels in Mexico, the Dominican Republic and Jamaica.
Its operations are still slightly subdued by the travel advisory issued on Jamaica by the United States government some 15 months ago.
Playa said the Jewel Paradise Cove property was valued at US$28.5 million while the sale was completed for $27.6 million in February, net of closing costs.
The name of the buyer was not disclosed.
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