Cayman - Treasure Island Resort?

[TravelDave]

I read a post from last year that Treasure Island Resort in GC was having financial difficulties and was either closed or in a state of disrepair. Does anyone have any current information on the status of that hotel (it appears to be open, but is there any risk) and the quality of the hotel (it's pretty inexpensive, so my expectations are not for a fancy hotel)?

 

[Drew Sailbum]

Treasure Island has remained open under the receivership of ScotiaBank. Several interested parties have tendered offers on the property, but pending action on those offers the property remains open for business.

Reports are that the facilities are quite similar to what they were like prior to the financial meltdown. Clean, comfortable, but basic.


Two of the offers made for the property would remove it from service to the tourism sector. One offer relates to providing housing for construction workers, and later hotel staff, for the Ritz Carlton project. Another offer would turn the property into student housing for the growing medical school - rapid expansion of the student enrollment is making affordable housing an issue for these students.