The 180-room resort will continue to accept bookings and will remain open as it transitions to its new name and brand, Pineapple Beach Club, on June 1.
Under the new ownership all resort staff members will remain in place.
“We are very satisfied that our staff and loyal customers will be properly taken care of under the stewardship of Elite’s chairman, Rob Barrett,” said chairman Gordon “Butch” Stewart.
Sandals’ only other Grand Pineapple resort Grand Pineapple Negril will remain part of the collection and will not be impacted by the sale.
The company still has a presence on the island with Sandals Grande Antigua and is in “high-level discussions” to introduce the first Beaches Resorts.