Luxury hotel brand Four Seasons is
actively pursuing its interest in building a new hotel on Grand Cayman.
“Cayman is a place that is of high
interest to us. It’s one of our target markets in the Caribbean,” said Alinio
Azevedo, the hotel’s director of development.
He said that the chain is keen to
partner with a developer to create what would be a new build hotel geared
toward the upper end of the market.
“We are very much interested in
this market and remain open to exploring opportunities with local partners and
developers to do a Four Seasons project in Cayman.
“We have been tracking the island;
we know a few players and have been on an exploratory/market visit, rather than
a project-specific one. It further enhanced our interest in Cayman,” said Mr.
The way the Four Seasons business
is structured, said the hotel professional, is that the company is an operator
and management body but does not own its properties around the world. Rather,
it operates the properties under long-term management contracts.
“For that reason we would need a
partner in local or international developers who would then build the property
that we would ultimately operate,” he said.
From a cost standpoint, added Mr.
Azevedo, it would most likely make more sense to build a new hotel rather than
refurbish an existing property on-island, although Four Seasons remains open to
proposals from hotels based at various locations.
“If it’s the right site with the
right partner and sponsor, most parts of the island have good access to and
from the airport, which at the end of the day, is what’s most important to us –
we are open to different locations,” he said.
A typical Four Seasons hotel is
between 150 and 200 rooms, which he said was around the correct range for
Cayman. Although the Cayman Islands are a priority market in the region, he
said it is difficult to identify a specific deadline in which a deal could be
“The message is that we are highly
interested and open to exploring opportunities with local developers,” he said.