The St. Thomas business community is abuzz with reports that the world's largest luxury resort chain, Four Seasons Hotels and Resorts, is interested in buying a 300-plus acre site in Botany Bay that belongs to the old Corning Estate.
St. Thomas Realtor April Newland, the local representative for the property, would make no comment on the reports Monday.
Roger Minkoff of Minkoff & Associates Realtors said only "we represent the buyers and have a fiduciary responsibility to maintain confidentiality." He would not confirm the name of the prospective buyer.
One industry source, however, said the deal is close and the price for about 320 acres of raw land is $12 million. The site is on St. Thomas' sparsely developed west end.
Four Seasons operates 48 properties in 20 countries, according to its website. Most of them bear the Four Seasons, or the Regent name. Founded in 1960, the company is Toronto-based but since 1994, 25 percent of it is owned by a Saudi Arabian prince.
Among a long list of "future developments" it lists a 235-room resort and golf course on 470 acres in Emerald Bay, Bahamas and a 350-room resort on the northeast coast of Puerto Rico.
The closest property now to St. Thomas is a resort in Nevis that is undergoing hurricane repairs and is scheduled to reopen in November.