The 16-acre oceanfront hotel is in the Rose Hall area, and closeto the Sangster International Airport. The resort has about 4,500sf of meeting space, four restaurants, six lounges, three outdoorpools, a fitness center, lighted tennis courts and retail shops.The property will be operated by a team led by KevinHendrickson.

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Octagon plans a complete renovation of the property, accordingto a statement by Bill Stadler, managing director with MolinaroKoger's Dallas office. He marketed the asset and structured thetransaction. "The profound strength of the Jamaican hotel market,combined with the resort's facilities and Holiday Inn brandaffiliation helped facilitate the transaction," he said in thestatement. Stadler could not be reached for comment.

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