A private, U.S.-based investment group has bought the 132-room Sunshine Suites resort and is in the process of finalizing a deal to buy the 343-room Westin Grand Cayman resort on Seven Mile Beach.
The deals for the two properties, on opposite sides of West Bay Road, would immediately make the anonymous investors one of the biggest players in Cayman’s hotel industry. Morty Valldejuli, general manager of the Westin, said the takeover involves plans for renovations to guest rooms, corridors and lobby. A second phase of renovations will include upgrading the elevators, expanding the ballroom and potentially adding new rooms.
Sunshine Suites will be renovated at a later stage, said Mr. Valldejuli, who is also area managing director for Boston-based Pyramid Hotel Group, which runs the Westin and has now been retained to oversee Sunshine Suites.
He said Greg Wray would remain as general manager of Sunshine Suites, and Pyramid would work with his “stellar team” to ensure minimal disruption after the sale.
He said the investors wish to remain anonymous.
“The new owners are thrilled to have an opportunity to continue the success of Sunshine Suites and will work with existing property leadership to do so,” he said.
“The Cayman Islands have proven to be a resilient tourism destination and will continue with additional government investment in airport infrastructure and private investment island-wide.”
He said due diligence is still going on before the Westin sale is finalized.
The two takeover deals are the latest in a series of changes or planned changes of ownership of hotels on Cayman’s Seven Mile Beach strip.
Treasure Island has been on and off the market, with a mooted takeover involving a Canadian company still being finalized. The Marriott went on the market earlier this year and a sale is understood to be in the process of being finalized.