Four Seasons Resort Exuma Closing

The Four Seasons Resort Great Exuma is closing in two weeks, effective May 26. The Development company that owns the resort has been in receivership and a new owner could not be found.  

There are many lessons to be learned here about traveling in a weak economy:

1. Use a travel agent, preferably one who has a preferred relationship with the hotel company.

2. Don't assume that the hotel brand actually owns the property. Licensing agreements are the norm in the travel industry.

3. Buy travel insurance with financial default coverage (and check the list of suppliers included)

4. Use your credit card for all travel purchases (most cards offer some additional protection for travel purchases but check with your bank for details)

 

Here's an excerpt from the Press Release:

"PricewaterhouseCoopers (PWC), the receiver, has worked diligently to identify a new owner for the development, which includes the Hotel. PWC announced some important developments today regarding the status of the receivership and sale process. 

After much deliberation, and in the absence of being able to identify a new owner for the development, the receiver has reluctantly decided to close the development. This is a decision which was very difficult for the receivers to make, and they look forward to a point in the future when this development will reopen under new ownership and continue to contribute to the Exuma community. Four Seasons has agreed to an orderly closure of the Hotel to guests effective as of May 26, 2009. It is unlikely that the Hotel will reopen as a Four Seasons. 

Our sales teams both at the Hotel and in New York are actively working with our clients and guests to rearrange any bookings that have been confirmed for beyond May 26. "