CJ Invest, Hotels and Development, Transactions

St Kitts’ Ocean Terrace Inn Closes Permanently

In the first major casualty of the Caribbean hotel industry due to the novel coronavirus, St Kitts’ Ocean Terrace Inn has announced its permanent closure, Caribbean Journal Invest has learned. 

In a letter by Ocean Terrace Inn Chairman Earle A. Kelly, the property announced that it had closed its doors effective March 30. 

“This is as a result of the continuing losses at the hotel that have now been exacerbated by the impact of the coronavirus pandemic, which has decimated the local and international hospitality and travel sectors,” Kelly wrote. “As we execute our end of business procedures, management will immediately communicate with you to settle any outstanding matters.”

The 50-room property is located just outside of St Kitts’ tiny capital of Basseterre in the popular tourist neighborhood of Frigate Bay. 

The move comes as St Kitts has quietly been growing its room stock on the island, from the debut of the celebrated Park Hyatt St Kitts in 2017 to the launch earlier this year of Hilton’s first-ever hotel in St Kitts, the KOI Resort, which is part of Hilton’s Curio Collection.

The OTI has not yet announced its plans for the physical plant, or whether a firm has been tapped to market its sale.

— CJI

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