Wednesday, June 28, 2006

Although the Hyatt beach suites have retained their former glory after Ivan, insurance issues have plagued the re-development of some 230 rooms on the Northside of the resort along Seven Mile Beach.

AN impasse between owners of the Hyatt Regency and its insurers may be heading down the road to a solution, said a resort official.

General Manager of the Hyatt Regency Diego Concha said talks are ongoing between the owners and their insurers with a possible outcome expected shortly.

Mr Concha said at the moment there was nothing to report but hopefully something would come out of the meetings.

He gave no further details on where the meetings were being held and when was a likely date for results. 

He said that his company was unsure whether the talks would lead to contentment or disappointment. He added that it was a "complex situation".

Both sides have been discussing compensation claims for the resort on Seven Mile Beach, which was extensively damaged by Hurricane Ivan in September 2004.

The storm devastated Grand Cayman, leaving its hotel room stock depleted after a day of severe pounding.

In the aftermath, the Hyatt Regency lost use of 230 rooms but was able to renovate 53 suites for use on the beach end of the property.    

Once the Island's leading resort, the loss of the Hyatt Regency hurt the Island's accommodation sector for many months despite the recovery of many other properties.   

Mr Concha said with 53 suites the resort still operates self-sufficiently and offers first-class accommodation and services.       

Meanwhile, the GM said the prospects for 2007 looked very good, given the interest shown by would-be guests.

He noted that guests intended to book short-term as compared to long-term inquiries in the past.

However, based on data received he expects the first five months in 2006 to be excellent for his company.

Speaking on the performance of the Hyatt Regency over the past year, Mr Concha said it has been a strong showing with occupancy ranging from the late 70 to early 80 percent.

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