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Updated over 3 years ago,

User Stats

19
Posts
5
Votes
Sondra Lovett
  • Investor
5
Votes |
19
Posts

Condo hotel (Condotel) in Grand Cayman

Sondra Lovett
  • Investor
Posted

Hey investors! Give me your thoughts on this condotel opportunity in the Cayman Islands. The property market in Cayman is booming and prices have tripled over last 10 years. Two new hospitals approved for construction over next 5 years. Hilton and Four Seasons are coming soon. Existing competitors - Ritz and Kimpton. This is Seven Mile Beach premier property - beachfront property scarce. Will be financing this deal. Is this a good long term investment? 

Grand Hyatt Residence - 5-star resort

Studio - pre-construction price US$660,000

HOA - $885/month

Hotel pool management cost - est. 50:50

Estimated revenue - 5% net

Expected occupancy - 70% first 2 years, 80%+ thereafter

Estimated completion date - December 2023

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