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SUPERCLUBS CHAIN NOT FOR SALE, SAYS ISSA.

John Issa, chairman of the Superclubs hotel chain, has denied a newspaper report that he is selling out, says CANA (October 7, 1998). Issa said that the company was not for sale but he was looking for investment capital to complete the chain's expansion program. The report also stated that the Jamaican hotel magnate would also be prepared to give up majority ownership of the company to raise cash. The paper said the Superclubs group has a turnover of US$200 million and a net profit margin of between 6% and 7%, providing a return of between US$12 million and US$18 million annually;
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Publication:Caribbean Update
Date:Nov 1, 1998
Words:105
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