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HOTEL PROPERTY UP FOR SALE. The Jamaican hotel chain Sandals is trying to sell its long-closed Paradise Beach Hotel property for Bds$54 million (US$27 million), reports The Sunday Sun newspaper (August 8, 1999). Sandals, which purchased the Black Rock, St. Michael hotel eight years ago, has retained the services of Alleyne Aguilar and Altman Ltd., a major real estate agency, to sell the property. "Industry sources said this latest development followed a recent breakdown in sell-off negotiations between Sandals and a prospective European buyer, reportedly from Italy," the newspaper said.