In the first two months of sales, Grand Hyatt Grand Cayman Residences reached $45 million in property sales, according to the developer.
Pageant Beach Hotel Ltd. is the development company of the collection of planned beachfront residences and Aimbridge Hospitality is the property manager. Florida-based Waypoint Resort Real Estate has joined with RE/MAX Cayman Islands for sales and marketing of the residences.
“Considering the pent-up demand for a new amenity-rich, full-service property on the island, it is no surprise Grand Hyatt Grand Cayman Residences are selling at such a rapid pace,” said Myles Newell, partner at Waypoint Resort Real Estate. “With the island’s limited inventory, much of it built more than a decade ago, we knew buyers would flock to this new luxury experience development.”
The Grand Hyatt Grand Cayman Hotel & Residences will occupy a seven-acre area with 900 feet of waterfront real estate and will be comprised of 167 studio suites, and one-, two-, and three-bedroom residences ranging from 460 to 2,471 square feet.
An affiliate of Pageant Beach Hotel Ltd. will offer a rental program for the residences that will allow participating owners, when not occupying their residences, to have Grand Hyatt Grand Cayman rent their residences to hotel guests.