Dart Real Estate has acquired The Ritz Carlton. The announcement made on Friday evening signals the growth of Dart Real Estate's presence in the tourism industry and an expansion of its tourism portfolio.
Though there is a change in ownership of, the long-term management agreement with the Ritz-Carlton Hotel Company, LLC will remain and the standard of service at the hotel is expected to be upheld.
According to Dart Real Estate president Jackie Doak "The Ritz-Carton, Grand Cayman has been the standard bearer for excellence in the region for more than a decade"
Mark VanDevelde, CEO of Dart Enterprises also commented "This investment demonstrates Mr Dart's confidence and willingness to invest in the strength and resilience of the Cayman Islands economy"
Dart has expressed that they look forward to working with the current management to preserve the hotel's legacy. The move was also seen by Dart as an opportunity for them to continue to boost Cayman's brand as the preferred destination for visitors and investors alike.
Dart Real Estate has as a part of its portfolio Kimpton Seafire and Spa.
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