Sandals Resorts International "is exploring options to
accelerate the company's long-term growth and development plans," the
company said in a statement on Thursday.
The statement was issued in response to a Reuters report on
May 10 that said Sandals was exploring strategic alternatives, including a
potential sale of the company, and hired investment bank Deutsche Bank AG to
explore its options.
Privately held Sandals was founded in 1981 by Butch Stewart
and began as a single hotel -- the current Sandals Montego Bay.
Today, the company
has 15 Sandals resorts, three Beaches resorts, one Grand Pineapple resort, the Fowl
Cay private island and four villas in Jamaica.