There are reports emerging that Gordon "Butch" Stewart is exploring the possibility of selling his hotel chain Sandals Resorts International.
A reuters report released on Wednesday said Sandals is exploring strategic alternatives including a potential sale of the company.
It based its report on information supplied by people familiar with the matter.
A sale would mark the first change in ownership for the company since it was founded 36 years ago by Gordon "Butch" Stewart, who built it into the largest non-government employer in Jamaica and created resorts across the Caribbean.
Reuters sources said Sandals has hired investment bank Deutsche Bank to explore several options, including a sale of a majority stake in the company.
The valuation of the company was not revealed, but the sources said it could be worth well over US$1 billion, including debt.
Sources added there is no certainty the move will result in any deal.
Efforts to reach Sandals Resorts CEO Adam Stewart for a comment were futile.
The company owns 24 vacation properties in seven Caribbean countries, including Jamaica, the Bahamas, Grenada and Barbados.
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