by Brian Major
Last updated: 5:00 PM ET, Fri December 12, 2014
Photo: A rendering of the Caye Chapel development. (Photo courtesy of BELTRAIDE).
Already experiencing a tourist arrivals boom in 2014, the government of Belize is continuing initiatives aimed at expanding travel to the Central American nation. Government officials on Thursday confirmed the Dec. 8 sale of Caye Chapel, a 265-acre island in the Belize archipelago, to "a leading Mexican hotel development group."
The sale price was not announced, but the property has been listed for as much as $45 million, according to media reports.
Belize government officials did not name the buyer, whom they identified as "owners and operators of luxury tourism developments in Mexico City, Cancun, and Acapulco." In a statement, officials at BELTRAIDE, a Belize agency created to support and develop "micro, small and medium" businesses, say the purchasers will partner with "a renown (sic) global luxury hotel brand" in a development that will include "high-end residencies and other amenities."
Caye Chapel, one of numerous off shore islands surrounding Belize, is described in local media reports as a "golf resort island" featuring 165 acres of beach front property and facilities including eight beachfront villas and 11 marina-based accommodations, with an 18-hole golf course and private airstrip. The resort has reportedly hosted golf royalty including Tiger Woods and entertainment stars including Beyonce.
But Caye Chapel and its facilities have sat "semi-deserted" since 2012, according to San Pedro Sunarticle. Larry Addington, an Ashland, Ky.-based billionaire, reportedly owned the property for more than 25 years before filing bankruptcy in 2012.
In 2013 Belize's government sold another offshore island, Harvest Caye, two adjoining islands in southern Belize, to Norwegian Cruise Line for $50 million. The cruise company plans a port development which will reportedly include a floating pier, an island village, a lagoon for water sports and a beach area.
For the latest travel news, updates and deals, subscribe to the daily TravelPulse newsletter.
Topics From This Article to Explore
