Iconic Hotel Aggie Grey’s sale talks
A source close to the process said there are issues that need to be finalised and when this is done, the family will issue a public statement in due course…
Negotiations are underway about the sale of one of Samoa’s most iconic hotels, Sheraton Samoa Aggie Grey’s Hotel and Bungalows on Beach Rd, to a foreign investment group.
The Samoa Observer understands the Grey Family has been in negotiations with a New Zealand-based Asian investment group to purchase the hotel.
Representatives of the Group have been in and out of the country to meet with the family and they are working to finalise the deal.
A source close to the process said there are issues that need to be finalised and when this is done, the family will issue a public statement in due course.
“We are not sure when the process will be completed, but certain government approvals have to be sought first which we are working on such as Foreign Investment approvals,” the source said.
Sheraton Samoa Aggie Grey’s General Manager, Mark Francis, said the hotel will “always be Samoa’s Hotel” regardless of the ownership.
According to the “Particulars of Form 10 Notice of change of directors” available on the government website, the other party involved includes “Leornard Cheng of New Zealand; Wanying He of New Zealand; Xuzheng Liu of China and Qing Tian of New Zealand.”
Mr. Francis said there will be no changes in terms of the management and operating of the Hotel.
He also made it clear there are no changes in terms of policies, employment and management.
“The Sheraton has a 20 year contract with Aggie Grey’s Hotel Limited and currently that contract is only into one year and another 19 years to go.”
To date there are more than 200 employees working at the Sheraton Samoa Aggie Grey’s Hotel and Bungalows.
Aggie Grey’s Hotel was founded by Aggie Grey in 1933. It remains one of the most iconic 5 star luxury properties in the South Pacific.
After it was damaged by Cyclone Evan in 2012, it returned last year as the Sheraton Samoa Aggie Grey’s Hotel, after a multi-million refurbishment project.
The Grey family is also growing its profile in French Polynesia with the acquisition of six hotels, including some in Tahiti, and the islands of Moorea, Bora Bora and Raiatea as well as the recent acquisition in 2016 of Tahiti Nui Travel making it one of the biggest tourism players in the French territory and South Pacific.