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         Adam Aron Leads Investment Group in Acquisition of Cap Juluca Resort,
Anguilla, British West Indies; $80 million Renovation Envisioned
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Anguilla, British West Indies (April 21, 2008)  --  An investor syndicate led by noted travel industry executive Adam M. Aron has formed Cap Juluca Properties Ltd., an Anguillian company, and on April 9th acquired the Cap Juluca resort located on the island of Anguilla in the Leeward Islands of the British West Indies. Cap Juluca was developed in the 1980’s, and has been open to guests for some 20 years. Since 1997, it has been owned continuously by Dion Friedland, a private investor and entrepreneur. Terms of the purchase were not disclosed.

The new ownership’s plans include a massive investment of monies to fully renovate the much heralded resort including the addition of new guest amenities, as well as the sale of a limited number of residential villas at the property. The hotel’s existing employee force will remain in position before, during and after the renovation. The hotel renovation will be performed in phases allowing the resort to remain open throughout.

The Cap Juluca resort is a private self-contained enclave along two miles of the best pristine white-sand beaches in the Caribbean. It is insulated from the outside world, yet is only minutes by air or motor launch from St. Maarten, and is the crown of the luxury tourism industry on the island of Anguilla, a British dependent territory. Cap Juluca is highlighted by its 18 Moorish guest villas, five-star restaurants, exotic landscaped tropical gardens, and dedicated and experienced service professionals who provide an unparalleled level of friendly and gracious service in a setting of sheer luxury.

Cap Juluca has received one prestigious designation after another. A member of Leading Hotels of the World, it has been designated over the years by Travel + Leisure magazine as the #1, #2 or #3 resort hotel in the Caribbean, Bermuda and the Bahamas. Similarly, it has been repeatedly included in Conde Nast Traveler’s Gold List, Reader’s Choice Poll and World’s Best Places to Stay. Among many other publications praising Cap Juluca, Andrew Harper’s Hideaway Report ranks it the #1 resort in the Caribbean.

Aron, 53, is widely known in U.S. travel and tourism circles. He formerly served as Chairman and CEO of Vail Resorts, including its RockResorts luxury hotel company; President and CEO of Norwegian Cruise Line Ltd.; Senior Vice President of Marketing of United Airlines and Senior Vice President of Hyatt Hotels and Resorts. He currently serves on the Board of Directors of Starwood Hotels and Resorts, Norwegian Cruise Line and Prestige Cruise Holdings, owner and operator of Regent Seven Seas Cruises and Oceania Cruises. In 2007, he was named by Travel Weekly Magazine to its “Club 33” – the 33 most influential individuals in travel and tourism worldwide.

Major investors in Cap Juluca Properties Ltd. also carry enormous success and prestige in the realm of global travel. Prominent among them is Silversea Investments and Participations Ltd., a Bahamian company, whose Chairman Manfredi Lefebvre is also the Chairman of Silversea Cruises.  Lefebvre, whose commitment to service excellence on the ships of Silversea is much praised, is also a European connection for Cap Juluca, many of whose guests come from throughout the world.

Plans for Cap Juluca include a total renovation of the property, most notably a complete upgrade to the interiors of Cap Juluca’s 18 guest villas. In addition, an all-new spa, retail shops and resort pool will be created on property. Restaurants will be enhanced; and new landscaping and lighting and other new guest amenities will be added including the development of Cove Bay Beach, Cap Juluca’s second currently undeveloped beach.  Back of house utilities, systems, and facilities will also be upgraded, including enhanced facilities for the employees of the resort.  The renovation will be environmentally sensitive throughout, including a commitment to enhancing the natural landscape of Cap Juluca and its surrounding waters, the exploration of using solar and wind power, as well as hybrid vehicles. The renovation is expected to cost as much as $80 million.

As part of the renovation, a select number of guest room villas will be built or converted for residential ownership.

The Government of Anguilla is expected to have significant ownership in the future of Cap Juluca, as Aron expects to offer the Government of Anguilla a 20% ownership stake in Cap Juluca Properties Ltd. This public ownership will mean the people of Anguilla will fully share in the economic progress and financial returns of the Cap Juluca renovation and residential development.

Commenting on the acquisition, Aron said, “Cap Juluca is without question one of the finest and most beautiful resorts in the world. With our extensive planned renovation, and with the help of Cap Juluca’s extraordinary employees, I have every confidence Cap Juluca will find itself in an even more special place in the hearts of its guests and residential owners.”

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Contact:

Adam Aron
Tel: 305-807-5077
capjuluca1@aol.com
www.capjuluca.com
 

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Also See: Eustace Guishard Named Anguilla's Hotelier of the Year / Dec 2002
The 27-suite Kú Scheduled to Open this Fall on Anguilla / June 2005
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