Grand Cayman Marriott sold; to remain a Marriott

The Grand Cayman Marriott, which has been on the market since February, has been acquired by UK investment group London & Regional for an undisclosed amount. The seller was the Genbar Cayman Company. Post-sale, the hotel will remain flagged as a Marriott. 

CBRE Hotels arranged the sale of the oceanfront resort located on 4.74 acres at Seven Mile Beach. “The hotel will continue to operate as it has in the past,” CBRE confirmed.

FREE DAILY NEWSLETTER

Like this story? Subscribe to IHIF!

The hospitality industry turns to IHIF International Hotel Investment News as the must-read source for investment and development coverage worldwide. Sign up today to get inside the deal with the latest transactions, openings, financing, and more delivered to your inbox and read on the go.

Paul Weimer, VP of CBRE Hotels, noted the strong demand of Grand Cayman due to its beaches and strong airlift.  

“Ownership did an excellent job shepherding this property through the downturn and positioning it for sale. Our buyer jumped on the opportunity to acquire a top property in a very supply constrained market,” he said.

London & Regional reportedly owns some 15 hotels from Europe to the Caribbean. Its holdings include the London Hilton on Park Lane and the Fairmont Royal Pavillion Barbados.

Suggested Articles

The real estate investment trust plans sell the InterContinental Buckhead Atlanta and Sofitel Washington DC Lafayette Square.

If the Barclay brothers sell the Ritz Hotel for the rumoured £800m to a consortium of Saudi Arabian families it will have increased in value 150 times

Principal has acquired the Ona Hotel Terra in Barcelona for €40.50m from a local real estate developer.