MIAMI--Interval International, a leading global provider of vacation services and an operating business of ILG (Nasdaq: ILG), and West Bay Hospitality, a subsidiary of investment firm Singerman Real Estate, announced they have entered into a multiyear affiliation agreement for the Grand Caymanian Resort. The mixed-use property has an established vacation ownership program and is located in the Cayman Islands’ North Sound.
“We are truly excited to be investing in the Grand Caymanian Resort and thrilled to be a part of this community. We envision improving the owner experience by providing great service and making capital improvements to the asset,” noted Seth Singerman, president and managing partner of Singerman Real Estate. “Our team is also very pleased to be working with Interval, whose executives have been invaluable in helping us to evaluate the industry and will be a key resource in the future.”
“Opportunities in shared ownership continue to be compelling as resorts operating in the region enjoy high-occupancy levels and strong demand among prospective buyers and current owners,” said David C. Gilbert, Interval’s president. “We welcome this well-established firm to the industry and look forward to supporting their business as they expand operations at the resort.”
Just minutes from the world-famous Seven Mile Beach, the property’s one- and two-bedroom units feature fully equipped kitchens, dining and living areas, whirlpool tubs in each bathroom, TVs, and complimentary Wi-Fi access. Guests can enjoy numerous on-site amenities and services, including a restaurant and lounge, a swimming pool, tennis courts, beach volleyball, a variety of water sports, a dive shop, a private boat dock, and a full activities program. The resort is conveniently located across the North Sound from Stingray City and guests can also enjoy excursions to this famous attraction.
Visitors from around the world come to the Cayman Islands for its extensive beaches, turquoise waters, excellent dive sites, and myriad outdoor activities. Among other attractions are its international cuisine, museums, and music festivals. Those interested in the local wildlife can go bird watching in nature reserves, visit a turtle farm, tour botanic gardens or crystal caves.
New purchasers at Grand Caymanian Resort will be enrolled as individual members of Interval International and also become Interval Gold® members, entitling them to many flexible exchange opportunities and upgraded benefits and services. These include Interval Options®, the ability to exchange their resort week toward a cruise, hotel, tour, golf, or spa vacation, or a unique Interval Experiences adventure; ShortStay Exchange®; Golf Connection, for access to select private courses; VIP treatment with Dining Connection; City Guides, for insider advice; Hertz Gold Plus Rewards® membership; savings on Getaway vacation rentals; online hotel discounts; additional special offers at restaurants and retail locations worldwide; and VIP ConciergeSM, for personal assistance, 24/7.
West Bay Hospitality has retained New York-based Boutique Real Estate Advisors LLC to oversee the sales and marketing of Grand Caymanian Resort’s shared ownership component.