Proposed Ritz-Carlton Resort and Residences St. Kitts, West Indies

Market and Utilization Analysis

March 19, 2018 - In 2017, CBRE Hotels Advisory prepared a market and utilization analysis for a proposed Ritz-Carlton Resort and Residences in the Friars Bay area of St. Kitts, West Indies. The study was prepared for the JSW Group, on behalf of The Liamuiga Corporation. When fully developed the resort will offer guests 125 suites, 10 branded villas, and 15 two-bedroom lockout condominiums with amenities commensurate with a luxury full-service resort.

CBRE reviewed the proposed development program and provided recommendations based on an analysis of local market conditions. With the facilities, services, and amenities validated, CBRE then prepared ten-year estimates of occupancy, ADR, total revenue, and profit. CBRE also provided recommendations for the appropriate retail pricing and estimates of absorption and net sales proceeds for the branded villas based on research of the sales programs at comparable luxury branded residential units in the Caribbean.
The final phase of the project entailed an IRR Analysis (Internal Rate of Return) for the overall development.

For additional information on CBRE’s experience in the Caribbean region, and with multi-use resort developments, please contact Scott Smith​ at or (404) 504-5948.

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