"As we all know, the business model under Kildare/Caravanserai was unsustainable"
No it was not sustainable the way he did it, if Royal Islander was run that way it would not be sustainable either. Where did the money go? How many stories have you heard about what he promised vs what he delivered. It is my belief that at the amount that was paid for this place, it will be a cash cow for the new owner. It took somebody with some deep pockets to do it, and some risk and hassle but he will do well off of the place.
I also add, do you think that Scotia Bank told the new owner what he wanted to hear or what they thought the truth was?