Kimpton plans new resort through Grenada’s Citizenship by Investment plan

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. 

Virtual Event

HOTEL OPTIMIZATION PART 2 | Now Available On-Demand

Survival in these times is highly dependent on a hotel's ability to quickly adapt and pivot their business to meet the current needs of travelers and the surrounding community. Join us for Optimization Part 2 – a FREE virtual event – as we bring together top players in the industry to discuss alternative uses when occupancy is down, ways to boost F&B revenue, how to help your staff adjust to new challenges and more, in a series of panels focused on how you can regain profitability during this crisis.

“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.”

Suggested Articles

Lodging owners who have the appropriate resources and capital have an opportunity to renovate at an accelerated rate and at more competitive prices.

The £18.4 million fine stems from a data breach discovered after the company purchased Starwood Hotels & Resorts Worldwide.

There are both positive and negative aspects to utilizing preferred equity capital, but it is often the best way to maintain ownership of the asset.