Island Outpost, the boutique hotel company owned by Island Records founder Chris Blackwell, announced it agreed to merge with Acacia Hotels and Resorts, a hotel development and management firm in Vero Beach, Fla. Financial terms were not disclosed.
The merged company will retain the Island Outpost name, and Acacia officials will relocate to Island Outpost`s headquarters in Miami Beach.
Acacia`s founder and chief executive officer, William Anderson, and its chief financial officer, Bruce Campbell, will retain their positions with the new company, while Jona Liebrecht, Island Outpost`s president, will become head of operations.
Officials said the new company will carry on with Acacia`s development plans under the Island Outpost brand, as well as focus on expanding Island Outpost`s core portfolio.
Acacia, which was founded in 1999, is a developer of resort, spa and residential projects in the Caribbean and the Americas, including Hacienda Cabo Velas in Guanacaste, Costa Rica.
The new company said it is poised to announce a major resort development project in the Bahamas.
Earlier this week, Island Outpost announced it added the Cuckoo`s Nest in Provo, Utah, and Kamalame Cay in the Bahamas to its portfolio.
Cuckoo`s Nest is a five-bedroom villa located in an exclusive private community in Provo. The 11-room Kamalame Cay is situated on a private island just off of Andros.
For details on the company`s hotels, call (800) OUTPOST or visit www.islandoutpost.com.