IHG's Kimpton Hotels has signed a deal to open the company's second property in the Caribbean. The Kimpton Kawana Bay Grenada Resort is slated to open in early 2019.
Owned and developed by True Blue Development, a division of the Tau Capital Group of Companies, the 146-room Kimpton Kawana Bay Resort will be developed as a partial adaptive reuse with a new-build expansion.
True Blue Development is offering interested investors an opportunity to participate in Grenada’s Citizenship by Investment (CBI) program. CBI prices start at $350,000 per ownership unit. Investors will receive a share of hotel revenue per year and citizenship in Grenada, which features numerous benefits such as access to visa-free travel to more than 115 countries.
“Grenada offers us the opportunity to further make our mark and introduce Kimpton to an even wider international audience," Mike DeFrino, Kimpton Hotels & Restaurants’ CEO, said in a statement.
“Choosing Kimpton as our operating partner was an easy decision for us," Warren Newfield, Principal of True Blue Development, said. "We were extremely impressed with Kimpton’s business philosophy and approach, and we share the same vision for the resort and its operating style. We are thrilled to have Kimpton as our operating partner and brand, and welcome them to the team.”