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Former Hedonism III on Block

By: Caribbean Journal Staff - March 11, 2011

Following the announcement that SuperClubs had terminated its lease at the Breezes Rio Bueno, Jamaica, a separate SuperClubs-managed property has been placed in receivership. Runaway Bay Developments, which owns the SuperClubs-managed SuperFun Beach Resort and Spa in Runaway Bay, Jamaica, is in receivership as four banks seek to recover on a $20 million debt. SuperFun Beach Resort and Spa is the former site of the Hedonism III resort. The first lenders in the line of priority on the debt are Caribbean DevelopmentBank, PanCaribbean and Development Bank of Jamaica. As part of the receivership, the 225-room hotel is now for sale. According to Zein Nakash, SuperClubs vice president of marketing and environmental affairs, the company would be interested in maintaining the operational lease once the property is sold to a new buyer.

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