Owner and Managing Director – The Crane Residential Resort
“It seems to me that the most powerful way that an investor can demonstrate confidence in his investment is by investing more. I first invested in Barbados in 1988 by purchasing the 18-room Crane Beach Hotel. Ten years later, we began the development of what is now The Crane Residential Resort – a 232 room four-diamond resort, with four restaurants, a retail village, spa and more. Now, 23 years later, I am extremely pleased to have picked Barbados since it has proven to be a great environment for growing our business. Perhaps the most important factor has been the political environment: it is a healthy mix of being friendly to business while looking after the social welfare of its citizens. Not only have we had access to first world infrastructure…air transportation, communications and finance…but we have also had access to a highly educated and motivated workforce. Since the Barbadian Government is very supportive of continuing education at all levels, we very rarely have to look outside the country for our management and technical staff.
Recently, we demonstrated our confidence by acquiring another large property for a resort project called Beach Houses at Culpepper; and we are currently in the process of acquiring property for our third resort. With Beach Houses at Culpepper already acquired and designed, “The Crane Residential Resort” has now evolved to “Crane Resorts”
In addition to the resort’s owner, the people who invest in fractional ownership at The Crane have also demonstrated their confidence in Barbados by investing more as time goes on. Once they have experienced Barbados as an owner, they invariably want more. The most common view is that Barbados offers the best of both worlds: it is laid back but sophisticated; a tropical paradise, but with amenities and good infrastructure; far from the madding crowd, but with plenty of direct daily flights to wherever they need to go.
One example is the Blakemore family from Worcestershire in the UK, who initially bought whole ownership in a two-bedroom residence six years ago:
“We are big fans of the Caribbean and we have visited a lot of the different islands, but we preferred Barbados more than any other so we decided to invest in a property here.” Two years later, they upgraded to a three-bedroom penthouse. Another good example would be Mr. and Mrs. Mix from Delaware, who primarily liked Barbados because: “It’s a stable, friendly country with easy access from the US East Coast, so it wasn’t a big leap to considering ownership.”
They initially bought two weeks of fractional ownership at The Crane and then, over the years, expanded their investment to six weeks. One of the Crane’s first owners started with just two weeks in a residence in the 1887 Historic Hotel. He loves his little corner of Barbados so much, that he now owns 36 weeks and has a standing order to buy anything else that becomes available. Today, over half the sales at the Crane come from existing owners purchasing a longer time in Barbados and/or larger residences. It is safe to say that The Crane, and the people who invest in The Crane, are looking forward to many more happy years here in Barbados.