There is big news in the economic sector of Belize and that is because Caye Chapel, a two hundred and sixty five acre island in Belize District, was purchased by a leading Mexican luxury hotel group.
The high end destination had been in the market for several years, and several names of would-be buyers started popping up including: Our Seasons Group of Luxury Hotels, Sheridan Group with a Canadian connect, Yumi Group, and several other groups surfaced in between. But none actually purchased the exclusive island, until now.
The press release said that “The group, who are owners and operators of luxury tourism developments in Mexico City, Cancun, and Acapulco, are currently working on a detailed development plan for the island for presentation to Government. It is expected that this plan will include the announcement of a partnership with a renowned global luxury hotel brand, to be announced in the near future.“
High end residencies and other amenities are also expected to be part of the development plan, according to Beltraide. Development is projected to commence in early 2015. The Price tag for which the island was sold has not been released to the media.