Below we start from the beginning and try to clarify what the property was, what it is now and what it�s going to be in the future. 

Originally opened in 1968 as the Jolly Beach Hotel, this 78-room property along with surrounding acreage was acquired in the mid-1970s by Dr. Alfred Erhart, a Swiss entrepreneur.  Upon acquisition, Dr. Erhart built a 384-room hotel facility adjacent to the existing hotel, creating the largest hotel in Antigua.  The two combined and operated together as a three-star European Plan property until 1993 when Caribbean Hotel Management Services (CHMS), operating under the umbrella name of Clubs International, leased and managed the property as a three-star all-inclusive renamed Club Antigua, the name it bore until late 1999.

In early 1999 Clubs International announced plans to invest millions of dollars to upgrade the property under the new names of Odyssey and Xanadu and convinced most major tour operators to include this new product in their year 2000 brochures.  However, none of the announced improvements were started and the hotel closed in May 1999.

On November 3, 1999, Tradewinds and ABI announced that they had entered
into an agreement to acquire the hotel property.  After renovations and upgrades the property re-opened on January 22, 2000 bearing the name Jolly Beach Resort and providing guests with a very good three-star, all-inclusive holiday experience. The resort is currently in operation and will remain open until August 12, 2000 when it will close to undergo ambitious new renovation plans.

�The response we�ve received from our guests and travel partners has been overwhelmingly positive,� says Randy Russell, Senior Vice-President, Sales and Marketing, Tradewinds Resorts.  �Most of the feedback mentions the excellent food quality, staff friendliness and general property cleanliness.�

�The new owners have already invested over US $4 million dollars in upgrades and improvements to many areas of the property,� says Mr. Russell.  �An additional US $12 million is budgeted for the renovations that will begin August 13, 2000.�

Construction plans include the addition of five new themed restaurants and new bar outlets, a new disco, Jazz & Blues bar, entertainment centre and an impressive fantasy pool complete with waterfalls and a swim-up bar. Also planned is the upgrading of the on-property Caribbean Cricket Centre, including training facilities, a gymnasium and �Sports Bar�.  All of the resort�s 462 rooms are scheduled to undergo enhancements and will benefit from new air conditioning, direct-dial telephones and televisions. 

Once all of these renovations are complete the property will undergo its last name change.  On December 15, 2000 the property will re-open as TIME OUT @ Jolly Beach, a resort designed for adults-only with an underlying theme of high energy and fun for the young and young-at-heart.  A holiday at TIME OUT will be like a week-long Saturday night out with friends with non-stop action and activities.  Two plans will be available at the resort; an all-inclusive (room, all meals, drinks, non-motorized water-sports and entertainment) and a European plan (room and entertainment only with a la carte dining options). 

�We�re very excited about the launch of TIME OUT @ Jolly Beach,� says Mr.  Russell.  �The TIME OUT brand is a unique holiday product that brings the sun and fun of the Caribbean to vacationers. The TIME OUT brand�s competitive advantage is that it goes far beyond economical accommodation to ensure that there is a wide variety of food, beverage, and entertainment options available in the surrounding area.  Guests will have the perfect backdrop for meeting new friends and enjoying a great Caribbean vacation.�

And so ends our tale of the property currently known as the Jolly Beach Resort but soon to re-open as TIME OUT @ Jolly Beach. We�re confident that this is one story that will have a very happy ending. 

About Tradewinds Resorts
Tradewinds Resorts is an international resort company founded by highly experienced hotel and resort executives and CDC (Commonwealth Development Corporation) of the United Kingdom.  Tradewinds Resorts� business is the ownership, management and franchising of resorts in the Eastern Caribbean.

About ABI Group
ABI Development Ltd. is part of the ABI Financial Group, which is a successful Antigua based consortium comprised of banking, trust, investment and real estate interests.  ABI Financial Group was formed in 1990 to provide a comprehensive range of domestic and offshore banking and other financial services.  Since 1990, it has expanded to include a trust company, a real estate development company, and an investment company.   The ABI Financial Group now consists of: Antigua Overseas Bank Ltd.; Antigua Barbuda Investment Bank Ltd.; ABI Trust Ltd.; ABI Development Company Ltd.; and AOB Investments Ltd.