InterContinental Enters Grand Cayman - Analyst Blog

By Zacks | June 14, 2013 AAA

Leading hotelier, InterContinental Hotels Group (IHG), recently unveiled its first Holiday Inn Resort branded property -- Holiday Inn Resort Grand Cayman -- in Grand Cayman, Cayman Islands in association with The Grand Caymanian Ltd. Crestline Hotels and Resorts will be acting as the manager of the resort. The Holiday Inn Resort brand includes small-to-mid sized full-scale resorts in upper-moderate tier especially designed to serve luxury travelers.

Strategically positioned on the North Sound of Grand Cayman, the 117-room resort is in proximity to the Owen Roberts International Airport as well as to various famous tourist spots including Stingray City, Rum Point, Camana Bay and George Town. Holiday Inn Resort Grand Cayman provides various amenities like an outdoor pool, bar, fitness center and spa.

Located at the western Caribbean Sea off the coast of Cuba, Grand Cayman is considered the biggest of the Cayman Islands. Grand Cayman, which is a key tourist spot, is well-known for its scenic beauty and local culture. Several other hoteliers including Wyndham Worldwide Corp. (WYN), Starwood Hotels & Resorts Worldwide Inc. (HOT) and Marriott International Inc. (MAR) have also made their presence felt in Grand Cayman.

The flourishing tourism industry of the island is a major source of its income. These factors justify InterContinental’s decision to bring its Holiday Inn brand to the island. We believe that the Holiday Inn Resort Grand Cayman will create a strong guest base, going ahead.

This opening is in line with the company’s strategy to expand its footprint into the Latin America and Caribbean regions. Currently, InterContinental boasts several properties across 21 countries. The affluent middle class population and greater footfall in the region caught the attention of this Zacks Rank #3 (Hold) company to grow further in fast-growing emerging markets of Latin America and the Caribbean.

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