It looks like Occidental Hotels and Resorts, a company with 19 properties across eight countries in the Caribbean, Central America, and Europe, has attracted the interest of some high-profile bidders.
According to this report from Bloomberg Businessweek early interest came from both AMResorts and Playa Hotels and Resorts.
Occidental is owned by billionaire Amancio Ortega and Banco Bilbao Vizcaya Argentaria (BBVA), Spain’s second-largest bank. Ortega and BBVA acquired the hotel company in 2007 for approximately $595 million. With a dominant footprint in Latin America and the Caribbean, Occidental is attractive to hotel companies that want to expand their operations in key countries.
The sale price for the company could fetch up to $700 million.