New hotels could bring 5,000 jobs

New hotel development being planned for Cayman during 2011 could create up to 6,000 new jobs.

“We are in negotiations for five major new hotels who want to do business in Cayman,” revealed William Peguero, chairman at the National Investment Council of the Cayman Islands Department of Commerce and Investment, following comments by Premier McKeeva Bush on his Plan for Sustainable Economic Success.

Mr. Peguero told the Compass that the projects – all new build – could provide between 1,000 and 1,500 new rooms.

“We are in negotiation regarding a mega resort and agreed on one in East End and one in West Bay Road. We’re looking at two high-end boutique hotels in West Bay and also a business hotel.

“These products bring lots of jobs, which we prefer than just building condominiums. There are two to four service jobs needed per room,” he added.

At this stage, the names of the hotel partners are not being revealed, although the NIC chairman did note that they were ‘mega brands’ within the hotel industry.

“We are focusing on brand names, high quality groups, because they have a strong reservations system and marketing budgets bigger than our budget and that can ensure that we’re able to entice our clientele to come to our Islands.”

Sites considered

There are several sites being considered across Grand Cayman, continued Mr. Peguero.

“At East End there’s a substantial amount of land south of Morritt’s Tortuga Club, [development of] which will help the whole area; that’s what we’re looking at. The owner of the land [in question] is motivated but it’s at an early stage. We believe there are negotiations for the sale of some land in West Bay [believed to be north of Tiki Beach plus a derelict site], which is a viable deal. We are waiting for clearance and for a buyer to purchase the land going forward so that is also at an early stage.

“We have lost six hotels over the last 10 years, not for financial reasons but because of extraordinary situations, and we believe it will serve our interest well to be able to increase the room capabilities and also bring good quality brands, which will bring value and enhance the product we have,” he said, noting that the aim was to break ground during 2011.

There will also be a business hotel; a product that has different focus to a leisure-based facility, which would open up the possibility of utilising suitable land without necessarily requiring a beach front element.

“A business hotel is specifically for those who come in for one or two days, looking for a good, clean quality hotel. At a business hotel you’ve a good, clean room, with an average cost of $89 to $130; it’s not necessarily a lot of frills.

It doesn’t have to be full of restaurants, watersports, things that are leisure-[oriented], because they’re coming in for a short time and for business.”


  1. Mr. Peguero,

    Keeping it real,just how far into the future do Caymanians have to look for these jobs to become a reality? Is it Five Years from now after construction of these hotels is completed? Or the day after the key employee status and rollover policy not mention the plan FOR MORE STATUS GRANTS THAT WILL DEVASTATE OUR PEOPLE has been imposed upon us!? Just how is l500 rooms and 5,000 jobs going to help our people on today and during this Christmas Season where our people are left to suffer because of the heartless greed for money where our government rakes in millions of dollars in work permit fees selling them out for the almighty dollar! How does 1500 hotel rooms and 5,000 jobs fit into the equation of our present jobless situation in Cayman. Perhaps Mr.Rolston Anglin is ready to publicly apologize since he has escalated the problem set before us. After all he has told the world PUBLICLY that Caymanians are unemployable! and has not even attempted to retract his damaging insults to our intelligence! Mr. Peguero will these new hotel owners rely on work permits as well to line governments pockets and will they be allowed to cherry pick who they will and will not hire whether onshore or OFF SHORE?!

    Right now as we speak, people are hurting they are jobless, with no hope in sight.Our women are forced to take to the streets in demonstrations and protests of the injustices by this heartless government. Caymanians are not at all convinced that government is allowing investors to come into our country and develop for the benefit of our people as well. The question still remains JUST WHO ARE WE DEVELOPING FOR?What do our young people have to look forward to in the future?.

    The PRESENT SITUATION calls for urgent solutions and government regulations of the companies ALREADY allowed to do business in the Cayman Islands. Yes regulations that will ensure job placement for Caymanians as well as advancement up the corporate ladder.

    I recently responded to another article regarding the Passport2Success program that Mr. Anglin Minister for Education and the Premier has recently been supporting, this is not a favor done they are doing their civil duty. Its about time but its not too late to salvage what little we do have left in the face of much exploitation of our people. Please read my response and recommendations to The Premiers recent press release:-

    I commend the minister for launching this program but with the current job search situation for Caymanians, government must now put a Plan B in place to deal with unemployment and joblessness amongst its people preparing them to be more competitive in the work place on a much larger scale. As the Premier stated that The future of these islands depends on people recognizing that we cannot rely on others, but must seize advantages whenever they occur. Passport2Success means you should never lose the willingness to learn.

    I would suggest to the premier and the minister for education and labor that it wouldnt be a bad idea if they would add one more feature to the Passport2Success program that would serve our society well.

    I recommend that those individuals who cannot find employment be allowed to take advantage of this program as well. Government would create a budget to PAY A STIPEND to those individuals who in addition to the Passport2Success program and desire to stay in school or attend school, i.e. the Law School, the UWI, the UCCI, or other, then this will not only advance the academic level of our people but at the same time enable them to provide food and shelter for their families as well as help reduce the surge in crime in our society that is very much out of control.

  2. Maybe it is time for us to stop relying on new hotels (possibly) and other pie in the sky ideas to get Caymanians back to work. Maybe we should start thinking of longer, more sustainable employment for all Caymaniams which would require thinking outside the box for the powers that be.

  3. Its obvious that new development objectives will not have an immediate impact these things take time. Since one of Caymans biggest businesses is Tourism unfortunately we do have to rely on new hotel developments to produce revenue and well sustainable Employment for Caymanians, although it may not be the Bank Officer or CEO Job, it will still bring plenty of Jobs to the Island if Caymanians want them. While the 5000 Jobs mention will not help our present Jobless situation it will help to create more opportunities in the future. New Jobs cannot just be pulled out of the air.

    As far as companies Cherry Picking their employees, thats the advantage of owning your own businesses and it happens all over the world not just in Cayman. If you were a business owner you would want the right to hire who suited you best. If they have a job that pays 5.00 an hour they are not going to hire someone and pay them 10.00, weather they are Local or Expat. The answer to cheap Labor may be for the Government to establish a minimum wage so expat work is not cheaper.

    The more the Cayman Islands develops itself to compete with the rest of the world, the more brighter young Caymanians futures will be. It would be nice to get paid for and while going to school, but the fact is that the greater majority of the world has to pay for their educations. Not getting paid to go to school is no excuse for not having an education. The choices we make early in life dictate what type of future we have. Young Caymanians of school age should not have families to provide for, they should be focused on their education, and for older folks its called night school so you can work during the day. I know quite a few folks who worked as Janitors or flipped burgers while they were in school continuing their education, and now have great jobs that they love and work hard to keep.

    Its all about what youre willing to do to get ahead, not what someones willing to give you.

  4. I kind of agree with NJtoCay. We need to understand that this kind of stuff happens everywhere not just here in cayman. We all have to prepare ourselves with proper education to be able to compete for top jobs; however i truly believe we need to fix the education system on these islands. There are a LOT of jobs untapped simply for the fact that business degrees are the only ones parents and government pushes for. With these new hotels do not guarantee jobs i understand that and it is frustrating; however if you are not trying for a better education pretty soon those will be the only kind of jobs many people here will be able to apply for; and that in itself would be trajic

  5. Ok so we build this Hotel, the article suggest that short term visitors will occupy it, we will then rely on the investors marketing decisions(if there paying for it im sure they will have the most say).

    We are focusing on brand names, high quality groups, because they have a strong reservations system and marketing budgets bigger than our budget and that can ensure that were able to entice our clientele to come to our Islands.

    So what im computing is that we will continue to rely heavily on the financial sector in order to support our tourism industry….hmmmn and what happens if the economy as weak as it is at the moment heads even further south?

    We will have another expensive Hotel falling to bits having gobbled up more scarce and precious land.

    My point is yes I understand that we must pay our due diligence to the financial sector however cant we design our Tourism sector to rely on the beauty of the Island, it is and can be a sophisticated, eco-friendly, safe, friendly and relaxing place to vacation.

    Custom needs to tweak the import fees, Immigration needs to limit work permits granted and regulate based on a maximum in each work industry, and why are we paying so much for fuel? O and yeah get rid of the Rollover policy (expats eventual Caymanians with their unique flavors of life add much value to our Island and Job Market)

    Govt should put a small amount of effort in working with the private sector (especially small to mid size market whos companies make alot of contact with our visitors.)

    Do we collect data from cruise passengers when they leave the island after a day of browsing our MANY jewelry stores on the water front(Cmon these people want an island not a Bling Bling Metropolis—-reminds me of a small Mexican market they all selling the same thing) when they are standing in those long lines to get back on the ship cant we put together an efficient questionnaire asking about their stay on the island..should bring about some interesting point of views.

    Then we have our beaches and entertainment providers whos rates to use say a crappy waverunner can be as much as 75 for half and hour…Ouch! With the custom break they should be able to charge less, this may eventually lead to more crafts and perhaps wider options for our visitors.

    Now im not saying a few waverunners are going to turn us around however we will be conducting business with stronger long term goals and innovation in mind.

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