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.
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.