10-storey Grand Hyatt hotel back on track for 2025 opening

Seven Mile Beach will be gaining another 10-storey hotel, with financing in place for the new Grand Hyatt and an expected opening date of mid-2025. In addition, the first of two cranes have been built for its construction, Kim Lund, broker/owner of RE/MAX Cayman Islands confirmed.

Lund, in an update, welcomed the progress on the new hotel and beachfront residences, saying that all is on track for the 2025 opening. “Most people thought the Grand Hyatt was never going to proceed, was bankrupt, etc. However, construction has really ramped up with a large workforce, first of 2 cranes being built, and financing in place to complete the development,” he told the Cayman Compass via email.

Located at the Pageant Beach site between The Wharf Restaurant and Poinsettia condominiums on West Bay Road, the Grand Hyatt Grand Cayman Hotel & Residences will comprise 190 hotel guest rooms, 88 condo-hotel guest rooms, and 76 one-, two-, and three-bedroom condo-hotel suites.

After The Ritz-Carlton, which opened in 2005, and Kimpton Seafire Resort and Spa, the 354-room Grand Hyatt will be the next five-star international hotel brand in Cayman, Lund said, adding, “The superstructure is being built now, so the skyline along Seven Mile Beach will have another 10-storey development”.

In July, the Sterling Global Financial Group and Pageant Beach Hotel Ltd. announced their partnership for the multi-million dollar project, saying that the condominiums were over 80% sold, leaving 22 units left for sale.

The expected “affluent tourists” gained through the Hyatt’s worldwide reservation system, Lund said, will spend on tours, restaurants, shops, and many other services and products “stimulating the local economy and adding jobs and income for those affiliated with the tourism industry”.

He added that the beachfront suites of up to three bedrooms provide “local residents an opportunity to own their own luxury vacation residence at prices below market starting at less than US$1 million”.

Lund said there are no similar beachfront residences priced that low on Seven Mile Beach. Plans for the development also include six restaurants, three resort-style swimming pools, a 12,000-square-foot destination spa and fitness centre, and a 25,000 sq. ft. indoor-outdoor conference meeting space.