Two long-discussed multi-million-dollar hotel projects in the Cayman Islands have moved a step closer to completion.
In George Town, developers announced a November opening date for the capital’s first 10-storey complex, ONE|GT.
Meanwhile financiers behind the controversial Beach Bay resort in Bodden Town indicated they had broken ground on what will be the biggest development of its kind in the eastern districts. The Mandarin Oriental resort is slated for a 2028 opening.
The owners of ONE|GT announced they have appointed US group Remington Hospitality as the hotel management company for the $120 million project.
The 177-room hotel and residential complex on Goring Avenue is the biggest recent development in George Town and is scheduled to open in November this year, a year after originally hoped.
Plans for the property include a French-Mediterranean restaurant, a Parisian cafe, a health and wellness centre and an infinity-edge pool on the roof.
Jeremy Hurst, owner of International Realty Group, confirmed that Remington Hospitality had been appointed to the project, and said that IRG was still the owner and developer of the ONE|GT site.
“We wanted a professional manager with a global network to provide a variety of services and they’re experts in this field,” Hurst said.
“But we’re still very much still involved.”
Founded in 1968, Remington Hospitality group manages 135 hotels in the US across 33 brands, including 16 independent and boutique properties.
Remington Hospitality said in a statement, “This latest addition marks another milestone in Remington’s rapid expansion across the region, underscoring its dedication to delivering exceptional hospitality experiences and elevating its portfolio in key destinations.”
George Town boost
ONE|GT could be a much-needed boost to George Town, which has suffered from years of construction work due to the George Town Revitalisation Initiative, which is nearing completion but is attracting a great deal of criticism.
“What George Town needs is something which brings people in, to live and work there and enjoy the amenities,” Hurst said.
“With a catalyst like ONE|GT, others will come. We’re really excited about the project.”
Of the 177 suites and apartments, 55 have been reserved for the hotel, with the remaining 122 available to be purchased as homes or investment properties. Of those, 100, or 85%, have already been sold, with around 40 earmarked to be additional hotel units.
Another major development taking shape in George Town is the $6 million Central Scranton Park, which, like ONE|GT, is scheduled for completion in November this year.
Mandarin Oriental breaks ground
As one luxury hotel nears completion in the Cayman Islands, another is still some years away. The developers of the planned five-star resort Mandarin Oriental Grand Cayman have just broken ground on the 67-acre project at Beach Bay and have begun officially marketing the luxury residences with prices starting at US$6 million.
Scheduled for completion in early 2028, the development by Melkonian Capital and RAL Companies marks Mandarin Oriental’s first new-construction site in the Caribbean, and comprises 91-bedrooms of hotel and residential properties, more than 40% of which have already been sold.
Two, three and four-bedroom residences are available at the site, which sits at 35 feet above sea level, with plans for private tropical gardens leading down to the ocean.
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