The partnership will result in a luxurious landmark expected to open in mid-2025 with 190 hotel guestrooms, 88 condo-hotel guestrooms, and 76 condo-hotel suites expected to open in mid-2025.
GEORGE TOWN, GRAND CAYMAN, July 06, 2023 /24-7PressRelease/ — Sterling Global Financial Group and Pageant Beach Hotel Ltd. are pleased to announce their partnership with world-class construction and financing partners for the highly anticipated Grand Hyatt Grand Cayman Hotel & Residences. With the project well underway and the condominiums over 80% sold, only 22 prime condominium units remain available for sale at this remarkable development.
With a long history of successful developments throughout the Caribbean, Sterling Global brings its expertise and financial resources to the Grand Hyatt Grand Cayman Hotel & Residences project. David Kosoy, Founder and Executive Chairman of Sterling Global Financial Group, expressed his confidence in the partnership, stating, “We are delighted to join forces with Pageant Beach Hotel Ltd. to bring the Grand Hyatt Grand Cayman Hotel & Residences to fruition. With our investment, we are committed to delivering a world-class destination that exemplifies luxury and unparalleled hospitality. This venture showcases our dedication to enhancing the local community and creating lasting value for our clients and investors.”
The Grand Hyatt Grand Cayman Hotel & Residences, located on a premium 7.1-acre site on 7 Mile Beach, is set to become a luxurious landmark. The property will offer a total of 190 hotel guestrooms, 88 condo-hotel guestrooms, and 76 one, two, and three-bedroom condo-hotel suites.
The collaboration of world-class firms Americaribe LLC, a subsidiary of Bouygues Construction, in partnership with LG Contracting as general contractor; Sculptor Real Estate as construction lender; and Sterling Global Financial Group and Pageant Beach Hotel Ltd. as developer ensures the highest standards of construction excellence. Construction is well underway with completion on schedule for a mid-2025 opening.
Designed to offer an extraordinary living experience, the Grand Hyatt Grand Cayman Hotel & Residences will feature an extensive range of resort amenities. Residents and guests will have access to six restaurants, three resort-style swimming pools, including an in-ocean saltwater lagoon pool in a protected cove, a 12,000 sq. ft. destination spa and fitness center, and a 25,000 sq. ft. indoor-outdoor conference meeting space. Grand Social Clubs, a variety of shopping boutiques, and five-star concierge service will further enhance the luxurious lifestyle offered by the property.
Tzvi Goder, Director of Pageant Beach Hotel Ltd., expressed his enthusiasm for the collaboration, stating, “We have enjoyed a strong financial relationship with Sterling over the past several years. We are very excited to now have Sterling as our development partner and look forward to the extensive experience and resources they bring to the Grand Hyatt development.”
About Sterling Global Financial:
Sterling is responsible for several noteworthy developments in the Caribbean including The Hurricane Hole Superyacht Marina at Paradise Landing in Nassau. Sterling is also actively developing Montage Cay. The 5-star private island, a partnership with Montage Hotels, is an exclusive retreat featuring a luxury resort, spa, private homesites, villas, and world-class amenities in the Abacos.
Sterling Global Financial Group is a global alternative asset manager focused on real estate, infrastructure, and financial services. With a wealth of experience spanning over 50 years, the firm offers a range of services such as private banking, investment management, trust services, and more. Their commitment to excellence and innovation has positioned them as a leader in the industry.
About Americaribe LLC:
Americaribe LLC, a subsidiary of French leader Bouygues Construction, is a general contractor with offices based in Miami, Florida. The company has forged its reputation on the delivery of solid, bold and prestigious buildings to tight deadlines. Over the years, they have built up a wealth of expertise, based on technical and commercial innovation and cutting-edge engineering and preconstruction skills. Their service package covers the whole process, from design right through to the construction, maintenance and development of all types of buildings.
Americaribe LLC has operated in the US and Caribbean construction market since 2002, delivering large-scale projects such as the iconic Brickell City Center, The Arte or Flamingo Point in Miami, Ocean Cay in the Bahamas, and the Hyatt Regency Hotel in Trinidad & Tobago.
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