Seven Mile Beach
News

Cayman’s Treasure Island Resort Sold; Margaritaville Resort Planned

By: Caribbean Journal Staff - November 11, 2015

A significant new project in the Cayman Islands

By Alexander Britell

In a potentially significant deal, Howard Hospitality Group has announced the acquisition of Grand Cayman’s Treasure Island resort.

HHG said it had already begun planning a major redesign and renovation of the property in partnership with Margaritavilla Holdings to convert the hotel into a Margaritaville Beach Resort.

The company purchased 100 percent of the property from ScotiaBank, it told Caribbean Journal.

The company told Caribbean Journal the plan is to create a new kind of family-friendly, entertaining property in Grand Cayman.

“We’re thrilled to partner with HHG and expand our rapidly growing portfolio of resort properties into the Cayman Islands,” said John Cohlan, CEO of Margaritaville Holdings. “As a lifestyle brand focused on escapism and relaxation, we’re excited to bring the Margaritaville resort experience to Grand Cayman.”
The property, which is slated to debut in December 2016, will include 280 guest rooms, several bars and restaurants, meeting space, a spa, two pools, kid zones and a two-story water slide.

It will also have a condominium component, with units entered into a rental program during portions of the year.

“The Margaritaville Beach Resort on Seven Mile Beach will provide a new and exciting hotel experience for Grand Cayman,” said Howard Sitzer, Chairman and CEO of HHG. “Authentically Caribbean, this luxury resort will embrace local tastes, sights and sounds and provide quality and vibrant entertainment for visitors and guests.”
Renovations on the property will begin in early 2016, although Treasure Island will remain open under HHG’s management during that period.

Trust Hospitality will be managing the property following the rebranding.

Terms of the transaction were not disclosed.

Popular Posts beach house silversands

Why Grenada Is a New Caribbean Luxury Hotspot

From its world-renowned chocolate to its pristine beaches to a region-leading focus on sustainability, Grenada is as fascinating and unique as destination as you’ll find in the Caribbean.  But in the last few years, the lush Eastern Caribberan island has […]


5 Adults-Only Resorts to Visit Right Now in the Caribbean 

galley bay

Sometimes you just want that extra degree of serenity, of privacy, of seclusion. There is a reason, after all, that adults-only resorts are booming in popularity, particularly in the Caribbean: travelers want to know that when they arrive, they know […]


The Best Caribbean Islands to Visit This Summer, From Antigua to St Croix

verandah antigua

We’ve been saying it for years, and we’ll keep saying it: in some ways, the Caribbean is even better in the summer months. The water is warm. It’s a bit less crowded, a little bit quieter. At night, the trade […]


Related Posts the parcel in grand cayman

“Massive” Grand Cayman Parcel Hits the Market for $25 Million 

Another huge development opportunity has hit the market in Grand Cayman, Caribbean Journal Invest has learned.  The Red Bay parcel, a 53-acre development site near George Town, is listed for $25 million with Kim Lund of RE/MAX.  It’s a mix […]


From the US Virgin Islands to Aruba, Caribbean Travel Is Booming

aruba usvi beach

First there was the breakout after restrictions were lifted. Then there was all that pent-up travel demand. Through each phase of the post-pandemic period, travelers have continued flocking to the Caribbean.  It’s the sign of a resilient global destination, and […]


Frontier Is Adding a New Nonstop Flight to Los Cabos 

nobu los cabos

It’s one of the most popular hotel destinations in Mexico: Los Cabos, which has seen a broad boom in recent years with the entry to market of brands like Nobu, Thompson, Marriott and Waldorf Astoria, among others.  That has led, […]


SUBSCRIBE!

Sign up for Caribbean Journal's free newsletter for a daily dose of beaches, hotels, rum and the best Caribbean travel information on the net.


No. Thank You