Closed for almost four years, the Alexander Hotel on Cayman Brac had fallen into a state of disrepair.

Now it has been spruced up and put on the market in the hope that an investor will see potential in the 31-room hotel.

“There’s a couple of people showing interest,” said owner Cleveland Dilbert, who acknowledged he had given up hope of being granted permission from officials to transform a neighboring pond into a marina for visiting yachts.

Mr. Dilbert closed the hotel in summer 2014 amid a dispute with government over his application to dredge the pond and cut a channel through to the open water to create a safe harbor.

He had complained that the smell from the pond was impacting the hotel. Government agreed to pump the pond to deal with the smell but indicated an environmental impact assessment would be required for the marina.

Mr. Dilbert said he had given up hope of realizing his vision for the property.

“It is definitely disappointing and the truth is I’m sorry I did it,” he said of the opening the hotel in 2009. “I invested money into Cayman Brac, it didn’t work out and I am hoping to recoup some of it.”

He believes there is still a market for someone to make a success of the hotel, particularly with arrivals into the Cayman Islands increasing year on year. But he said too much water had passed under the bridge for him to reopen and revive the hotel himself.

“I am 74, my boys are doing their own thing, I decided the better thing to do was to move on,” Mr. Dilbert said.

Tourism Minister Moses Kirkconnell said tourism arrivals into the Brac were at record levels and insisted he was working to help increase the number of rooms available on the island.

“Cayman Brac continues to enjoy the highest arrivals ever. From 2014, stayover arrivals have increased by approximately 20 percent due to increased airlift coupled with the expanded Cayman Brac Beach Resort and Private Villas which added more rooms to the market,” he said.

There are currently a total of 258 rooms available to tourists on Cayman Brac, including hotels, villas and tourism rentals.

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