The new owners of the Grand Caymanian Resort on the North Sound have announced a partnership with Interval International for the time-share properties at the resort.
Chicago-based Singerman Real Estate bought the property, which includes 117 hotel rooms and 56 fractional ownership units, last month.
The hotel element of the property will remain branded as a Holiday Inn.
The deal with Interval relates to the shared ownership component of the resort.
Seth Singerman, president of Singerman Real Estate, said the group would be making upgrades to the property.
“We are truly excited to be investing in the Grand Caymanian Resort and thrilled to be a part of this community,” he said. “We envision improving the owner experience by providing great service and making capital improvements to the asset.
“Our team is also very pleased to be working with Interval, whose executives have been invaluable in helping us to evaluate the industry and will be a key resource in the future.”
Interval operates an international time-share exchange program which allows owners to exchange time-share weeks at their home resort for another time-share elsewhere.
David Gilbert, the company’s president, said in a press release, “Opportunities in shared ownership continue to be compelling as resorts operating in the region enjoy high occupancy levels and strong demand among prospective buyers and current owners. We welcome this well-established firm [Singerman] to the industry and look forward to supporting their business as they expand operations at the resort.”