Grand Cayman Marriott Beach Resort up for sale

CBRE Hotels has been tapped to market the Grand Cayman Marriott Beach Resort for sale, reports the Caribbean Journal. The 295-room, five-story property is located on 300 feet of beachfront on Seven Mile Beach in Grand Cayman. A possible sale price was not disclosed.

CBRE Hotels’ Christian Charre, Paul Weimer and Natalie Castillo are marketing the property, along with BluePoint’s Fleur Vagniez.

“The Cayman Islands are one of the most popular destinations in the Caribbean, renowned for its beautiful beaches, world-class diving and off-shore banking sector,” said Weimer, VP of CBRE Hotels. “This a fantastic opportunity for a value-add investor to capitalize on strong market fundamentals and acquire the most desirable resort in Grand Cayman at a significant discount to replacement cost. There are also no more developable tracts of land on Seven Mile beach, making this a truly irreplaceable property.”

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The property, first built in 1990, last underwent a $15.6-million renovation of rooms and public spaces that wrapped at the end of last year.