Westin resort survives under co-receivers
(CNS): One of Grand Cayman’s most important resorts appears to have survived the financial turmoil of its owners for at least the foreseeable future. A new management team has now been put in place to return the Westin Causaurina Resort to profit. A statement from the team on Wednesday revealed that local company WMC, in affiliation with the US based Pyramid Hotel Group, have been appointed co-receivers of Galleon Beach Resort Limited along with Russell Smith of Johnson Smith Associates Limited. The new manager confirmed that Columbia Sussex was no longer involved with the hotel and that it would be business as usual despite the changes.
News that the well-known Seven Mile Beach resort was facing foreclosure came last November when credit rating agency Realpoint LLC revealed that the Columbia Sussex Corp, the parent company, was having difficulty meeting payments on loans against the hotel.
On Wednesday the new manger of the resort, Larry Vitagliano, promised a smooth transition for staff and guests as WMC Limited took over withthe help of the Boston based hotel company, Pyramid. PHG has 64 hospitality assets in the Caribbean and the US, including all major brands, from mid-market to select service properties.
He said now that the hotel was in new hands the focus would be on extending the reputation and revenue of the resort, which was still one of the busiest on the island.
“It will be business as usual at the Westin,” said Vitagliano, who has reportedly been in the hotel business for some two decades. “The resort will remain fully operational and guest services will continue to be at the highest standard. There will not be any disruption for guests, bookings, events, staffing, vendors or suppliers. We want to make clear that this is a long term commitment for us. We will be operating the Westin for the foreseeable future until the hotel is returned to profitability.”
The new manager said that the team recognised the importance of the hotel to Cayman’s tourism business and that the change in management would not impact business at the hotel. He said WMC had spoken with the government and updated it on the situation with the business and employees.
“We are grateful for the facilitation that government has given to WMC Limited, which we hope will safeguard the uninterrupted operations of the hotel and the employment of its staff,” Vitagliano added.
The premier has reportedly stated that government had been committed to keeping the Westin open and was pleased the difficult transition at this important resort was going smoothly and was looking forward to working with Pyramid.
Category: Business
Yeah! I still get to go to my favorite Brunch on Sundays…thanks for sticking around guys!
I am glad they are going to stay around..The food and service at the hotel is excellent and I have never had a bad time or a bad meal there. Kudos to the new management team for keeping the high standards in place. We need the Westin!
Agreed! Not sure who is charge of the food and beverage department there but always have had excellent meals and service staff are impeccable. My company has also hosted some special events there and I dare say they are on par or maybe even better than the Ritz in some instances.
The Sunday brunch is to die for…Thanks Westin, for believing and staying in Cayman!
I am an expat and love this hotel. I come on weekends, buy a coffee and seat nearby under a tree.
I would advise that for a nominal fee ($3-5), may be membership, locals be allowed to use pools and lounge chairs. There are always plenty of empty chairs and lost revenue.
As much as I love the Westin, I’m against locals buying memberships to use their beach and chairs. Sorry, Mr. Expat. You will have to do what my husband and I do once or twice a year, we ask for a localdiscount and we BOOK A ROOM to enjoy the facilities, Many local families do this and the Westin does offer a good discount. The average person staying there deserves the empty chairs and wide open beach. They paid a pretty handsome sum in airfare to get here, luxury room cost, taxes, and high hotel food and drink prices to use those chairs…a LOT more than your cup of coffee and proposed $3 bucks for a beach chair rental.
All is not lost…buy a nice chair from cost-u-less across the street and enjoy your coffee on the Governor’s Beach (public) next door…for free. We also hope you will try some of the other wonderful uncrowded public beaches in Cayman and the sister islands.
Have hugged an expat today? Why such a hostility? Of course I can sit whenever I want to, but when the beach is deserted and 80% of the chairs is empty.. you do the math.
*sigh* now expats cant get to sit in a beach chair and enjoy the sunset?? .. tsk tsk
Just so I have this right, you are actively trying to stop this expat from spending money locally.
Is this a new kind of Caymanomics, or are you just FREAKIN’ NUTS?
This is good news. No one likes to see a beautiful Hotel like the Westin close down and become an eye sore like the Hyatt. And then local staff get laid off also . I pray that the new management will do creative marketing to keep the hotel as full as possible. Specials with the airlines, some restaurants, dive companies and attractions would be great. Of course do what the Ritz does when quiet and promote Companies Conferences both from overseas and Cayman. I would also like our Government to use that venue as well from time to time as an alternative to the Ritz. Mr. Premier it’s now high time to deal with the Hyatt. it’s now been nearly 7 years and either they pay up a fine or take it over and make a nice park or sell it. It needs to be torn down anyhow.