RockResorts to terminate agreement with Half Moon
BROOMFIELD — Vail Resorts has announced that its subsidiary, RockResorts, will no longer manage Half Moon in Montego Bay, Jamaica. The owners of the property (Half Moon Bay Ltd.) and RockResorts have mutually agreed that based on ownership’s goals for the property and RockResorts’ focus on its mountain lodging properties, this is the right direction for both parties.
In connection with this agreement, Half Moon will repay Vail Resorts the amortized key money investment of approximately $4.5 million and will pay Vail Resorts a termination fee of approximately $3.5 million. Vail Resorts owns or manages a collection of casually elegant hotels under the RockResort brand, as well as the Grand Teton Lodge Company in Jackson Hole, Wyoming.