It has been 8 years since Hurricane Ivan devastated the Hyatt Hotel on Grand Cayman. After years of insurance company issues, the owners are redeveloping the site. It will soon become a branded hotel which will cater to the business community. Being the first of its kind on Grand Cayman, this brings welcomed possibilities to the island. Previously catering to the tourism industry, the new hotel will host 168 rooms, a major convention center, spa and new swimming pool. Demolition work has already started, although a general contractor has yet to be named.