Blue Cave Castle that is - for a cool $1 million US by the owner.
http://www.viviun.com/AD-167907/
I'll have to check my moneytree when I get home to see how it's doing.

You could buy Xtabi for 2.9.........Been listed for years

I think this ad is suspect. The blurb at the top says the castle was built by the owners father. Susan, the owner, was Steve's "wife" and business partner and I believe the ownership dispute between her and his daughters was settled in her favor several years ago after years spent in court.

Lost Beach Resort has been for sale for about a year. I think they have it listed at $1.4 mil but based on some conversations, I know they would sell it for $900k. I've considered buying it on several occasions, but the thought of investing everything I've ever worked for plus having the stress of running the place and paying the outrageous loan payment each month has always kept me from pulling the trigger. I would definitely lease the restaurant though if they would allow me...

The word is or unspoken word I should say is that everything is for sale in Negril for a price. Things are for sale that are not listed-lots really. Lost Beach is a really tough sell or even lease. I would not touch it. Utilities alone kill any entrepreneur in the market the way it is now.

Successful places or business, well often it is often not the owners' only business

It is ashame how things have changed.

Not that I would want to stay but one can get a room at Palmyra in Montego Bay(correction-2br suite) for CHEAP on various dicsount sites.

It is sad Van, the place has fallen into such bad shape over the last few years. However it stole my heart and you know how that goes.

I hear ya jajewel! It was and still is definitely a possibility financially, but like I said, I wouldn't want the stress of taking on such a large project. Truthfully, I only want a small restaurant/bar by the sea. That's why I said I'd lease it. Send a few touts into Negril to recruit tourists to this awesome hidden beach bar on a secluded beach only 25 minutes away. It needs a draw though, I feel I put out food with the same quality of Jake's so that would be one major draw. Clean up the beach, some pretty people and Bob on the speakers... I've been over their books several times, and you'd be surprised the amount of profit that place can make even at 60% capacity. I don't want to put specific #'s out there, but this summer they had a large group (60%) for 1 week and it covered the overhead for the month plus a few $100 profit. Even with the shape that it's in, a few bandages and the place can make money, the owners just have no interest in running it like a business anymore. The TA rating alone is worth preserving.

I've done some club/bar promoting here in the US and I'm confident that a place like Lost Beach could be really great again with about $50k in renovations and another $10k in aggressive target advertising. Some people don't like to hear it, but ganja tourism is a BIG business and I think Lost Beach has all the logistics for becoming a profitable boutique hotel for that target traveler. Possibly even the world's first Michelin Star gourmet ganja restaurant! Well probably not but you get the idea. Again, all the logistics are there, it just takes the right business plan, a Chef with a dream and one hell of a marketing campaign!

Those were all just little ideas of mine, nothing that I would work on anytime soon. Right now I'm happy being an International Man of Leisure :-)

LBB-trust me if it is too good to be true it probably is. Ask them to show you a JPS bill, a water bill in a slow month..I think you would be astonished what small let alone larger place pay. If you don't pay it the day it is due, yes they will come out and cut the current. THAT DAY. I would not even know if the books were real (not speaking them specifically but anyone)...Look around Negril for example, there is nothing really going on. LB is not an anchor place. What businesses make in the 'busy time' (is it really?) often has to suffice and spread out for the whole year. Throw in insurance or a bad storm and clean up-your riding down the creek without a paddle.

Sure perhaps there was a function, but also perhaps that was the only function in 9 months or more. I am just being very honest to what happens.

My advice would be to make your money in a different way and enjoy Jamaica not working and living frugally (did not say cheap). Enjoy it. My other advice would be to spend ALOT OF TIME living in Jamaica before you make that investment. Of course you can dream but I see it all the time.

I also just read the comment about TA-don't get me started on that. Sadly TA is completely skewed, people/business write their own comments or have friends do it, offer discounts/incentives for good reports, etc etc and often is not true and accurate. I am not saying in their case (LB) that is what happens, but I KNOW of other places that do it all the time.... but I can tell you have enough sense not to base it all on that.

Years back they had a game plan, even had planned to use seaplanes-upscale market to get people there. That all went out the window. Mind you I have not driven over there in a long time-perhaps they have really upscaled it...

Any price can be put on a property, but the real market value can only be determined by the sold price. From what I have read on the board, people write about property for sale from time to time, but I don't recall mention of any being sold. If someone had 1 M$ US, why would they tie it up in a struggling industry, with no shortage of competition, and such high operating cost. The electricity cost alone is staggering. And what I always would want to understand is why a property is for sale, someone may have a good reason to sell a viable business, or it may be the business just is not profitable. Many of us on the board would love to have something-something going on in Jamaica, but need to have "eyes wide open"

Ray-I also think though that some places are just for sale for legit reasons and not just because it is disasterous. As I said many places (successful) have other businesses and perhaps they just don't have the time for the hotel; others I believe get tired or burned out; some have made good money over the years and are getting older and just want to relax or do something less intensive.

There are others who have put ZERO back into their business, diminishing returns, as you said staggering costs (Food and utilities,etc) and maybve have to sell.
But you hit the nail on the head for the most part -but not all are distressed.