Hotel Four Seasons relisted at US$13.5m

Hotel Four Seasons, the 114-room hospitality property on Ruthven Road in New Kingston, has returned to the market at US$13.5 million, reflecting a discount from its listing five years earlier.

The property is currently listed through Coldwell Banker Jamaica Realty, with realtor Nicola Melhado as the listing agent. Marketing materials describe the three-acre property as a “ready-to-operate” asset featuring landscaped gardens, a pool courtyard, restaurant, bar, meeting facilities and parking.

Located in New Kingston’s commercial district, Hotel Four Seasons has long catered to corporate and government travellers and operates conference and meeting facilities alongside its hotel operations. According to the listing, the hotel has a loyal corporate and government client base and benefits from “stable, year-round occupancy”. The marketing package states that the property offers potential for increased operating income under new ownership and management and may appeal to a hotel brand or operator seeking a presence in Kingston.

The listing also describes the property as having a “conversion-ready layout”, positioning it as a potential redevelopment or repositioning opportunity within Kingston’s business accommodation market.

Information on occupancy levels, revenue and other operating metrics was not disclosed in the public listing. Efforts to obtain additional details on the current sale process were unsuccessful. Melhado declined an interview request, citing the owners’ desire for privacy.

The property was first publicly marketed in 2021 at US$16 million through Richard James & Associates, during a period when the COVID-19 pandemic had driven several hospitality properties onto the market. The 2021 listing pitched the hotel not only as a going concern, but as a potential conversion opportunity, noting that it could be repurposed as a treatment and recovery centre or hospital.

The hotel has operated for decades with Toyco Limited, a company with multiple shareholders and no majority owner, taking operational control in 2008.

Companies Office of Jamaica records at the time showed 12 shareholders in Toyco, with the top six — Daniela Stephanie Lundh, Christopher Miehle, Mike Peter Bauer, Kyna Wismer, Matthieu Genoud and Alexandra Genoud — each holding equal stakes. The hotel had received a significant upgrade roughly a decade earlier, with a new wing unveiled in July 2012.

carolyn.guniss@rjrgleaner.com