Divi Ceases Operations At Tiara Beach
CAYMAN ISLANDS, September 12, 2006. As part of a strategic plan to refocus its resources on potential growth markets in the Caribbean, Divi Resorts has decided to cease business operations at Divi Tiara Beach Resort in Cayman Brac effective September 23, 2006. Divi Resorts will continue to serve its dive customers at its resort in Bonaire, the Divi Flamingo Beach Resort & Casino.
As part of the company's plan earlier this year Divi Resorts broke ground on a new development at Divi Aruba Phoenix Beach Resort in Aruba that will more than double the size of the resort, adding 140 suites to the existing 101 units. This project is expected to be complete in March 2008. Additionally in August 2006 Divi Resorts announced that it will open a second hotel in Bonaire in 2008, an all inclusive four-star resort with a full service dive center.
"While the decision to close Divi Tiara was a hard one, it was one that will benefit the company in the long run and will allow us to concentrate our efforts on expanding the Divi Resorts brand in Caribbean destinations with greater opportunities for development," said Mark Steward, Vice President of Sales and Marketing for Divi Resorts. "Certain economic realities of continuing a dive-oriented resort on Cayman Brac also influenced our decision. Factors included airlift issues, which have affected Divi Tiara's dive guests in particular as they need to bring additional gear for their sport; increased competition from the growing number of niche market dive destinations throughout the Caribbean; and weather which in the past years has pushed up insurance costs."
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