Michael Ryan's vision transforms the Cayman Islands into a world-class destination
Over the years, the Cayman Islands have evolved from “the islands time forgot” to a world-class destination for luxury travelers looking for an island vacation in a cosmopolitan setting. But before real estate developer Michael Ryan arrived on the scene in 1997, tourists and vacationers largely ignored this tiny archipelago. Today, thanks partly to his efforts, the Cayman Islands are one of the top tourist destinations in the Caribbean—and it’s only getting better.
Today, the Cayman Islands attract luxury vacationers looking for a spot of sun, sand, and sea, but what sets it apart is being a tropical destination with world-class luxury amenities and services only found in the Cayman Islands. This British Overseas Territory in the Caribbean is known for its pristine beaches, lush natural environment, and world-class food scene. Its capital city George Town has been named, on multiple occasions since 2004, one of the world's most liveable cities by The Economist Intelligence Unit. But, it has not always been that way.
Michael Ryan arrives in the Cayman Islands
For over 25 years, Michael Ryan’s real estate development company Silverfin Development has been instrumental in transforming the Cayman Islands and, by extension, the Caribbean region into a world-class tourist destination. He has developed over $3 billion in projects and is responsible for developing over three million square feet of commercial and residential property.
Now known as one of the most innovative developers in the Caribbean, he is credited with creating several new developments on Grand Cayman, including The Ritz-Carlton Grand Cayman Resort, The Residences at The Ritz-Carlton Grand Cayman Resort, The DeckHouses, Exclusive Island, FIN Grand Cayman, and the soon-to-break-ground Prisma Project in Crystal Harbour.
As a young entrepreneur, Michael Ryan had already built a solid reputation for business savviness and offshore development experience in his then home of Costa Rica. In 1997, he was approached to develop The Ritz-Carlton Grand Cayman Resort, which became the most important real estate and tourism development in Cayman Islands history, setting a new standard for luxury development.
The Ritz-Carlton Grand Cayman is a 144-acre luxury resort stretching across the island from Seven Mile Beach to the North Sound. It features all of today's modern amenities, including five restaurants and bars, three pools, private beach cabanas, poolside service staff, and an award-winning spa. It also originated the Ambassadors For The Environment program, designed to introduce guests young and old to the natural and cultural heritage of the islands.
After the Ritz-Carlton Grand Cayman
After completing the Ritz Carlton, the Cayman Islands experienced tremendous development as thousands of tourists and investors visited the islands. The Cayman Islands now boasts some of the world's most luxurious hotels, including The Kimpton Seafire Resort + Spa, The Westin Grand Cayman Seven Mile Beach Resort and Spa, and Palm Heights All Suite Boutique Hotel. The success of these luxury resorts has led to further real estate developments.
Mike’s vision transformed the Cayman Islands. His efforts are credited with helping bring about several changes that make this area such a desirable place to live and work: A flourishing tourism economy, improved developments and infrastructure, and an influx of foreign investment from wealthy individuals and corporations, to name a few.
Ryan is also the creator of several international events, such as The Cayman Alternative Investment Summit (CAIS), the Legends Tennis Event, and the famous Cayman Cookout.
Michael can also be thanked for helping get the Cayman Crisis Centre opened in 2003. An animal lover, he is also a long-term supporter of the Cayman Humane Society, and his yard has seen a stream of rescue dogs finding a new home in paradise.
“He is truly an entrepreneur,” says John Snow, former Treasury Secretary of the United States. “He can see things before others can see them. He has that foresight.”
Mike’s ability to spot opportunity results from his ability to think outside the box and go against conventional thinking, he says. “That's what makes him so special—he thinks ahead of everyone else and knows what needs to be done before anyone else does.”
An environmentally conscious approach to development
But Michael Ryan is not just a developer and entrepreneur located in the Cayman Islands. He is an adventurer, sailor, surfer, and sea lover; as such, he believes development and nature preservation should go hand in hand. His efforts have brought tourism, investment, and luxury development to the Cayman Islands, using principles of community development, job creation, and environmentally friendly solutions.
A great example of this is the FIN Environmental Program, an initiative Michael Ryan created to use the ongoing operational budget of the development to monitor the health of the reef offshore of FIN Grand Cayman and revitalize it where possible. He hopes this will become a model for all coastal development in Cayman, marrying private funding with the public good.
In the end, people worldwide are starting to see for themselves the benefits of a green approach to development. They’re realizing that sustainability can be profitable and beautiful and that human-scale projects have a much more positive impact on our lives. As Michael Ryan has shown in his work, it’s possible to create something extraordinary for humanity without destroying our planet in the process.
He has always said, beyond a personal commitment to the environment, we have a substantial commercial interest in its protection and preservation. If we are selling a beautiful destination, we need to put the resources in place to ensure its health for the long term; it’s just good business.
Michael Ryan has been a critical figure in the Cayman Islands for over 20 years. His work has helped to grow the islands from a sleepy backwater into one of the world’s most popular destinations with some of the finest luxury resorts, real estate, and amenities anywhere in the Caribbean. And through his environmental and social programs, he continues to take good care of some of Cayman’s most valuable treasures: its fantastic community and awe-inspiring marine environment.
