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The resort is the first timeshare venture, as well as the first acqui-
sition outside of Europe, for general manager Ferdinand Berksoy, who
owns and operates Cesars Temple De Luxe and Cesars Resort (both
in Turkey’s Antalya Province); Cesars Resort in Bodrum, Turkey; and
Liman Casino & Hotel and Saray Casino & Hotel, both in North Cyprus.
He says he has heartily embraced the shared ownership model.
“We are excited to be a part of this industry and to participate in
its long-term growth potential in the Caribbean,” Berksoy says. “Our
research has shown that through shared ownership, we can offer
consumers the authentic home-away-from-home experience that
they are looking for, combined with the service standards of profes-
sionally managed resorts.”
When staking a claim in new territory, it helps to have a stellar
property. “It’s spectacular,” says Petra Berksoy, the developer’s wife
and spokesperson for the resort. “We are on the most breathtaking
part of Seven Mile Beach, and in a very central location.” The resort
is 10 minutes by car from Owen Roberts International Airport, she
says, and just a short walk from Camana Bay, George Town’s ocean-
front hub for shopping, sports, dining, and entertainment.
Paradise Within Paradise
At Seven Mile Beach Vacation Club, which has been designated
an Interval International Premier Resort
®
, buyers can choose from
two- and three-bedroom units that are generously proportioned:
from 1,190 square feet (111 square meters) to 1,730 square feet (161
square meters). Completely renovated in 2015, all units have partial
ocean views, full kitchens with granite countertops and upgraded
appliances, and a washer and dryer. They have been outfitted with
designer furnishings, high-end bedding, flat-screen TVs in the living
area and all bedrooms, and free Wi-Fi.
In addition to the beach, amenities include an oceanfront adults’
swimming pool and a shallow children’s pool with an adjacent whirl-
pool, a tennis court, and a fitness center. In-unit massage services,
childcare, and a personal chef are all available for a fee.
The resort has won numerous accolades, including a Certificate
of Excellence from TripAdvisor, a 5/5 ranking from HomeAway, and a
4.9/5 rating from VRBO.
Seven Mile Beach, which has been called one of the Caribbean’s
top destinations, offers crystalline waters for swimming, diving,
snorkeling, sailing, waterskiing, and big-game fishing. Parasailing
and windsurfing are popular. Close to the resort are an 18-hole golf
course, bicycle trails, horseback riding, a day spa, and car rentals
for those interested in exploring the island. Some of the world’s best
diving destinations — including sunken shipwrecks that shelter thou-
sands of glimmering fish — can be found off Grand Cayman.
An Alternative to Investing Millions
Seven Mile Beach Vacation Club is set within the Regal Beach Club,
a private 59-unit condominium that was built in 1998. The club
comprises 20 units, 10 of which have been initially allocated to the
vacation ownership program.
“This is a very upscale property with whole ownership condo-
miniums available from between US$1.2 million and US$2.5 million,”
says Craig Bosio, executive vice president of Caribbean Resort
Solutions, which is handling the sales and market effort for the devel-
oper. He adds that there is a decided advantage when the year-round
product is being marketed — at a much steeper price — alongside the
timeshare offering. “We make sure that the total experience of owning
a fraction of a unit is similar to the benefits, services, and value of
investing millions of dollars in a vacation home,” Bosio says.
The resort’s strongest selling point, Bosio says, is that old real
estate chestnut: location, location, location. “We are situated right
on the beach, which is absolutely beautiful. The units themselves
are amazing: all two and three bedrooms, and beautifully appointed.
“Almost all our clients love the product and see the value,” Bosio
continues. Prices range from US$30,000 to US$90,000 per week, for
the right to use over a 20-year term. Consumer financing is offered
in-house.
Caymans’ Appeal Translates to Leads
Sales started in January and are going very well, he adds. Sales
activity is conducted at an in-house sales office and an off-premises
outpost in nearby George Town. “At this point, our lead genera-
tion comes from on-site guests and people who are visiting Grand
Cayman,” says Bosio. “We do have a lot of walk-ins from people who
are looking to rent or buy condos. The product and the offering are
RESORT PROFILE
SEVEN MILE BEACH
VACATION CLUB
33
It’s often said that shared ownership offers the
benefits of having a second home, without
the expense, upkeep, and commitment whole
ownership brings. A dazzling illustration of that
can be seen at
Seven Mile Beach Vacation
Club
on Grand Cayman in the Cayman Islands.
BY CATHERINE LACKNER
NEW ENTRANT SCORES
With a Can’t-Miss Property
OCTOBER – DECEMBER 2017
RESORTDEVELOPER.COMVACATION INDUSTRY REVIEW