Grand Cayman Marriott Beach Resort Offered for Sale

Grand Cayman, British West Indies å- Jones Lang LaSalle Hotels has been chosen to market the sale of the Grand Cayman Marriott Beach Resort on Grand Cayman Island in the British West Indies. This 4-diamond Caribbean resort with 309 rooms and 3600 square feet of meeting space is located on the famous Seven Mile Beach.
“The Caymans have terrific airlift compared to other Caribbean destinations and are a well established offshore banking destination,” said Gregory Rumpel, Senior Vice President of Jones Lang LaSalle Hotels. “This resort is a great opportunity for an investor to enter one of the strongest Caribbean markets.”
The Cayman Islands sit 150 miles south of Cuba on the Caribbean Sea. Coral reefs make it a paradise for divers. Grand Cayman is the largest and most developed of the three main islands and has a population of close to 35,000. It is 76 square miles or 22 miles long and 8 miles at its widest point. Its capital, George Town, is the offshore banking center of the Caribbean with more than 500 banks.
“In 2003, tourist arrivals to Grand Cayman have remained steady compared with 2002, averaging more than 27,000 visitors per month,” said Thomas Fisher, Senior Vice President of Jones Lang LaSalle Hotels. “The proximity to the United States and the availability of management will be attractive to many U.S.-based owner/operators.”
Jones Lang LaSalle Hotels, the world’s leading hotel investment services group, provides clients with value-added investment opportunities and advice. In 2002, its success story includes the sale of 6,747 hotel rooms to the value of US$862 million in 36 cities and advisory expertise on 116,877 rooms to the value of US$17.8 billion across 170 cities.
Jones Lang LaSalle Hotels’ services include transactions, mergers and acquisitions, financial advice and capital raising, valuation and appraisal, asset management, strategic planning, operator assessment and selection and industry research.
Jones Lang LaSalle is the world’s leading real estate services and investment management firm, operating across more than 100 key markets on five continents.