Phase I will be a 114 room condominium hotel and spa. It consists of
40 hotel rooms and 37 condominium units that can be locked-off to
form 74 hotel guestrooms. The 37 condominium units will have an
average size of approximately 1,700 square feet, and three
presidential suites that will be approximately $1,300 per square
foot. Condominium buyers will rent their units in the hotel rental
program for overnight guests 323 days of the year in exchange for a
potion of the revenues generated by the hotel. Most of the
guestrooms will be located in six three-story buildings. In addition
to the guestrooms, the property will feature three food and beverage
outlets, 5,500 square feet of meeting space, a gift shop, a business
center, and recreational facilities, including two outdoor swimming
pools, a 13,500-square foot full-service spa, a fitness center and
water sports.
Phase II will be 32 fractional mixed-ownership villas, which will be
managed and serviced by Mandarin Oriental.
The property is located off Queens Highway at Anchor Point in the
District of East End which occupies an area in the Northeastern
portion of Grand Cayman Island. Queens Highway is also known by
locals as “Million Dollar Road” due to the many million dollar homes
along the highway.
Tourism is the main source of income for the Cayman Islands,
providing thousands of jobs locally and contributing hundreds of
millions of dollars to the local economy each year. In 2003, there
were a total of 2,112,496 visitors to the Cayman Islands, a
combination of 293,517 arriving by air and 1,818,979 arriving by
cruise ship. The islands have a strong commercial and tourism
relationship with both the United Kingdom and the United States.
Seven Mile Beach is the most popular area on Grand Cayman, with its
numerous diving sites. It is well known for being a naturally white
sand beach.
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