By LCN Business Desk
A second large hospitality deal landed in the Caribbean this week. International Hotel Investments plc has entered contractual arrangements to develop an ultra-luxury hotel and branded residential project on Grace Bay in Turks and Caicos, with Carolina Partners Ltd, the Malta-listed company announced on 23 September.
The site is the last remaining undeveloped beachfront parcel on that stretch of Grace Bay. The project was originated by Corinthia Real Estate Ventures, the group's real estate development arm, which will act as general partner and handle project financing, concept development, design management, construction delivery and residential sales. Corinthia Hotels will operate the resort when it opens. The project is going through planning.
| What is being built | Detail |
|---|---|
| Hotel | 50 keys, all suites, Corinthia branded |
| Residences | Beachfront villas, casitas and condominiums, fully serviced |
| Facilities | Spa and wellness centre, several pools, beach club, restaurants |
| Site | The last undeveloped beachfront parcel on that stretch of Grace Bay |
| Who develops it | Corinthia Real Estate Ventures, as general partner, with Carolina Partners Ltd |
| Who runs it | Corinthia Hotels, on completion |
Source: International Hotel Investments plc's announcement of 23 September 2026, and the partners' statement. Construction is slated to begin in 2027.
Why does one hotel matter to the region?
Because of who is buying Caribbean rooms this week. Royal Caribbean Group signed for half of Sandals and Beaches Resorts for about US$3 billion on the same day, as La Caribeña News reported in A Cruise Line Is Buying Half of Sandals for US$3 Billion. One is a cruise operator moving onto land. The other is a Mediterranean hotel group moving into the Americas for the first time.
The room stock is also moving the other way in places. Cuba lost two thirds of its visitors and three hotel chains, reported in Cuba Lost Two Thirds of Its Visitors, and Meliá's exit was reported in Meliá Exits Cuba.
What does it say about the branded residence model?
That the rooms are increasingly financed by the flats beside them. A branded residence sells apartments and villas under the hotel's name, and the sales fund the build while the operator keeps the management contract. In this case the developer is explicit that the same arm handling design and construction will also handle residential sales.
For Caribbean governments the model brings a hotel without the state financing it, and a property market priced in a currency most residents do not earn. Dominica's citizenship programme and its hotel investors have been through that argument, reported in Dominica Has Called Discounted Citizenship Illegal Since 2018.
Where does Guyana sit in this?
Outside the beach market and building a different case. Caribbean tourism ministers and operators meet in Georgetown from 5 October, and Guyana's own tourism pitch rests on interior and river assets rather than resort beachfront, as reported in Diamond Jubilee Cruise Puts Guyana's Small Ship Tourism on the Map.
Grace Bay has one beachfront parcel left. That is the sentence a developer writes when scarcity is the product.
What the title card shows
- 50 suites: the size of the Corinthia-branded hotel planned for Grace Bay. Source: International Hotel Investments plc, 23 September 2026.
- The last undeveloped beachfront parcel on that stretch of Grace Bay, according to the company.
- First in North America: the project is Corinthia Real Estate Ventures' entry into the region, and the first of a planned series.
- 2027: when construction is slated to begin.
- Two deals in a week: Royal Caribbean also signed for half of Sandals and Beaches for about US$3 billion on the same day.
Frequently Asked Questions
What is being built in Turks and Caicos?
A 50-suite Corinthia-branded hotel and a collection of branded residences, including beachfront villas, casitas and condominiums, with a spa, pools, a beach club and restaurants, on Grace Bay.
Who is developing it?
Corinthia Real Estate Ventures, the development arm of Malta-listed International Hotel Investments plc, as general partner, with Carolina Partners Ltd. Corinthia Hotels will operate the resort on completion.
When does it start?
Construction is slated to begin in 2027. The project is currently going through planning.