Grey Investment Group is a private Samoan tourism company that has assets throughout the Pacific Region. Grey is a dominant company in the Samoan investment market. Some assets are jointly-held with the Government of Samoa; for example, the investments in Virgin Samoa were jointly held with the Government as co-shareholders.
History
Early history
Grey Investment Group dates back to 1919 when Aggie Grey opened the Cosmopolitan Club in Apia. In 1933 Aggie Grey purchased The British Club using a £200 loan she had received from a close friend. After the purchase 'Aggie's' ; as her businesses were known to be called, ventured into illegal alcohol trading during the Samoan Prohibition on Alcohol by purchasing alcohol from ships passing through Samoa and selling it on to those who enquired. It is commonly believed that Aggie's was not a proper business until the American Forces entered into Apia in 1943 for use as a naval port, when Aggie and the Grey family started selling burgers and coffee for the American soldiers. During this time she also operated sandwich carts throughout Apia. It was said that Marlon Brando was a regular at the hotel when in Samoa.
Aggie's was the set and accommodation for cast and crew for the film "Return to Paradise." Aggie was personally behind the scenes and personally supervised the production of the film. Her hotel was the accommodation and management base for the entire film crew; and day by day, she led the catering unit on location in Lefaga.
Aggie's after Cyclone Evan
When Cyclone Evan hit Samoa between 11 December and 15 December in 2012, Aggie Greys Hotel was badly damaged and closed for more than 3 years. During the closure, all 300 staff members were employed within other parts of the company, such as, the Apia Bottling, the countless acres of Farmland, Scenic Tours, or the Resort. The family used insurance money as well as money granted by the Central Bank of Samoa and Developmental Bank of Samoa to re-build the hotel.
In August 2013, it was reported that upon re-opening, Sheraton Hotels and Resorts would assume the management role for the hotels. The hotels however would remain under the ownership of the Grey Investment Group.
The hotel was ready to open in April 2016, with the Grand Re-Opening occurring on 30 April. Distinguished guests including President of French Polynesia Edouard Fritch, Head of State of Samoa Tufuga Efi, Prime Minister of Samoa Tuilaepa Aiono Sailele Malielegaoi, and Former Minister of Finance of Samoa Faumuina Tiatia Liuga attended the re-opening.
The total cost of renovations are estimated to be roughly $40 million.
It was reported by Radio New Zealand in May 2017 that Grey Investment Group planned to acquire Manava Beach Resort and Spa, located in French Polynesia; however, the company was passed over, with China's HNA Group eventually acquiring the resort.
Receivership
The company entered receivership in August 2023. Grant Thornton New Zealand were appointed as receivers.
Investments
Aggie Grey's Hotel Limited
The Grey Investment Group directly hold 4,039,375 shares, and indirectly hold a further 192,500 shares in Aggie Grey's Hotel Limited, the holding company of both Sheraton-managed Aggie Grey hotels as well as the Le Panina Golf Course & Functions Centre, and the Whitesands Samoa Casino. The shareholding gives the company an 88.53% shareholding in Aggie Grey's Hotel Limited.
Aggie Grey's Hotel Limited owns, Sheraton Samoa Aggie Grey's Resort Sheraton Samoa Aggie Grey's Hotel & Bungalows Whitesands Samoa LE Panina Golf Course & Functions Centre
Le Méridien
In July 2011, General Manager of Grey Investment Group, Fredrick Alan Grey started travelling to Tahiti to meet with then-President of French Polynesia Oscar Temaru, Fidupac Tahiti Representative Jose Chanlin, and the Vice President of GDF Suez France, Frederic Martin, to negotiate the purchase of Le Méridian Tahiti Resort. In December 2011, it was reported that the Grey Family had completed the purchase of Le Méridien for an undisclosed amount. The Grey Family reportedly acquired the resort from French multinational GDF Suez. The transaction was handled by accounting firm Fidupac Tahiti. The Grey Investment Group's website states that the resort was purchased for $15 million.