After long-running issues surrounding what has been Anguilla’s tourism flagship, negotiations are in progress on new ownership arrangements for Cap Juluca Resort.
Anguilla’s Chief Minister and Minister of Tourism and Economic Development, Mr. Victor Banks, spoke to media representatives on the matter at the Government’s press conference on Tuesday.
“The Government of Anguilla signed off a head of terms agreement with the owners which has the effect of putting them in a position to negotiate the sale of Cap Juluca,” he disclosed. “The proposition is that this sale will be a final matter regarding the dispute and ownership. It means that the negotiations are intended to bring Cap Juluca under one ownership roof, and that we would be able to move forward with the development plan which we are now negotiating on the basis of an MOU with the prospective buyer. It is something which is on-going.”
Mr. Banks went on: “The Tourism Investment Committee (TIC) met on the MOU yesterday (Monday, March 7). I met with them (the Committee) as well, and Mr. Foster Rogers also attended the meeting. This is because we have been involved in the negotiation process – and in the middle of it – as the TIC makes its decisions/recommendations. Those recommendations will come to Executive Council and we will be able to sign off one way or another with regards to the support that we are prepared to give to effect the final sale of Cap Juluca; to facilitate the investment that will need to be made in the future; to ensure that there are considerations for the staff; considerations for the development, and the surroundings, of Cap Juluca; provision for a national park development; provisions for Anguillian entrepreneurs who will be affected by the development in that area; and a whole range of issues which we hope, at the end of the day, will be a clear indication that the Government of Anguilla is serious in fulfilling its commitment to fix the Cap Juluca problem by the second year of our term.”
