Pageant Beach Hotel resort has moved a step closer after the developer finalized a US$25-million deal on Dec 7th.
The Howard Hospitality Group, which opened the Margaritaville resort earlier this year, has partnered with New Jersey-based Madison Hill Properties for the project.
Planning permission was granted in October and hopes to open a new luxury 5-star resort at the site in late 2020.
The resort will include 30,000 square feet of conference space, five pools, seven bars and restaurants, a private screening room, spa and gym, and approximately 400 guest rooms and suites.
The resort will eventually employ a permanent staff of around 500 people.
The purchase looks to be a clear statement of intent from the developer that the project for the largest hotel property in Grand Cayman is underway.
The National Conservation Council has not called for an environmental impact assessment on the site. Director of the Department of Environment Gina Ebanks-Petrie said in June that the ‘magnitude and scope of the potential impacts really don’t warrant an EIA’.
The property will be designed by an international team of resort experts and would be environmentally friendly.by