A Caribbean hotelier is offering investors stressed out by the financial meltdown a chance to swap their sinking stocks for sun-drenched beach vacations.
Between now and Jan. 31, Elite Island Resorts is accepting reservations for high-end resorts on six islands payable in up to $5,000 worth of stock transactions — with the shares' value rolled back to July 1 pre-meltdown levels. The deal is good for travel through Dec. 20, 2009.
Elite president Steven Heydt said Monday the promotion aims to give jarred investors a break from the bad news on 24-hour cable channels, and to help the company get its slice of dwindling tourism to the Caribbean.
"Traditional methods of doing business are obviously not taking us where we need to go as an economy," Heydt said by phone from company headquarters in Deerfield Beach, Florida. "So I decided that instead of selling travel at a cash price, I would sell travel by changing the currency."