by Brian Major
Last updated: 10:47 AM ET, Fri February 13, 2015
Photo: The Grand Cayman Marriott Beach Resort offers close proximity to Grand Cayman attractions. (Photo courtesy of Expedia).
One of the Cayman Islands' major hotels is up for sale. Hospitality and real estate firm CBRE has been engaged to market the Grand Cayman Marriott Beach Resort on Grand Cayman.
The 295-room property is located on a 4.7-acre site along 300 feet of beachfront on Grand Cayman's Seven Mile Beach. CBRE officials are marketing the property as "the most desirable resort in Grand Cayman" and Paul Weimer, CBRE's vice president, also notes, "There are also no more developable tracts of land on Seven Mile beach, making this a truly irreplaceable property."
Built in 1990, the hotel was "extensively renovated" in 2014 including $15.6 million in improvements to its guestrooms, lobby, restaurants, indoor and outdoor function spaces, fitness center, and beach bar, according to CBRE officials.
The resort features approximately 6,000 square feet of function space, including a 4,260-square-foot divisible ballroom and two meeting suites. The hotel also offers guest rooms ranging from ranging from 370 to 600 square feet, including 22 suites.
CBRE officials describe the property as the closest full-service hotel to Owen Roberts International Airport, with close proximity to island attractions including the Camana Bay retail and residential complex and the George Town tourist district. The hotel had an average occupancy of more than 72 percent in 2014, according to CBRE.
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