Caretaker Minister of Finance Lautimuia Uelese Va’ai has confirmed that the Samoa National Provident Fund (SNPF) is looking at options for the possible sale of the Sheraton Mulifanua Beach Resort.
He told the Samoa Observer newspaper that no final decision has been made yet, and discussions remain ongoing.
The minister said there hasn’t been a definitive response from the hotel’s board, where SNPF is the major shareholder.
“If the price is right, then the board may decide to proceed,” the Minister said.
Lautimuia explained that any offer would need to ensure a solid return on investment (ROI) for the Fund and its contributors.
The SNPF acquired the Sheraton Mulifanua resort property in April 2020, purchasing the land and operations for approximately $34 million tālā.
Formerly known as Aggie Grey’s Lagoon Resort, the property spans 224 acres and is located near Faleolo International Airport.
By late 2024, the resort had accumulated nearly $40 million tālā in debt, with SNPF providing an additional $26 million tālā in commercial loans. The resort reopened in October 2024 after renovations.
