Island Global Yachting acquires Sun Resorts International
FORT LAUDERDALE, Fla. – Island Global Yachting (IGY), an owner, developer and manager of luxury marinas and yachting lifestyle destinations, has closed on its acquisition of Sun Resorts International (SRI) and its subsidiary Sun Resorts Management (SRM), the company reported in a recent statement.
Through its acquisition of SRM, IGY has now assumed management of an additional 11 marinas – seven in Texas and four in the Caribbean. The Caribbean facilities are: American Yacht Harbor, St. Thomas, USVI; Simpson Bay Yacht Club, St. Maarten, NA; Virgin Gorda Yacht Harbor, Virgin Gorda, BVI; and Village Cay Marina, Tortola, BVI. As a part of the transaction, IGY acquired American Yacht Harbor in St. Thomas outright and all of SRI’s interest in the three other Caribbean facilities. The Sun Resorts acquisition adds 442 more berths to IGY’s Caribbean offerings alone.
“We are pleased to bring the marinas of Sun Resorts International into the global collection of IGY,” said Andrew L. Farkas, CEO of Island Global Yachting. “The strategic positioning of these properties in the Caribbean definitely complements our existing assets and affords us even greater opportunities to serve our yachting clientele. With this addition, boaters can travel throughout the region from St. Lucia, through the Dutch Antilles, into the British Virgin Islands, and on to St. Thomas and always have the premier experience of an IGY marina.”
Charles Garner, president of IGY, said, “Bringing the Sun Resorts’ team and its portfolio of properties into the IGY family not only gives us the leading position throughout the Caribbean, but also adds dynamic leadership across the company. With now over 5,000 slips, existing or in development, and another 36,000 being planned, we are one of the largest managers and developers of berths in the world.”
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