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MICHAEL RYAN, Developer
The Ritz-Carlton, Grand Cayman
The Residences at The Ritz-Carlton, Grand Cayman
GRAND CAYMAN -- As he steers The Cayman Islands largest real estate and tourism development project toward completion, Michael Ryan has addressed daunting construction challenges, delicate negotiations with government, labor and community groups, and the lofty expectations of a partnership with the world's top-rated hotel company.
In creating what he says will be "one of the greatest resorts in the Caribbean" -- The Ritz-Carlton, Grand Cayman and its luxurious privately owned vacation homes called The Residences - Ryan has called on all the personal attributes - persistence, entrepreneurial spirit, in-depth and far reaching expertise, and an absolute determination to succeed - that have helped earn his reputation as one of most dynamic and bold young developers in the international hospitality industry. The roots of his success can be traced to a lifetime in a family of developers.
Born in Hamilton, Ontario, Ryan attended the Hillfield Stratharallen Preparatory School and then studied medieval literature and philosophy at McGill University -- "wonderful training," in his words, because the disciplines taught him the need to read and to think. He also spent time on a whale research vessel in the Caribbean and, until his insurers told him to quit, pursued hang-gliding, flying, and mountain climbing among other sports. "Mike" not only learned the world of construction early in life but also applied his education quickly. By the age of 14 he had formed his own construction company during summer break, hiring friends to work on simple projects such as house painting and repairs. "The construction business shaped my life, with the result that I have what I think is a strong grasp of the many facets of this complex and challenging field," he says.
Before deciding to develop his own projects, Ryan worked in Toronto, Quebec and Europe on such projects as a marina development in Georgian Bay, townhouse construction in Ontario and as general manager with Mont Ste. Anne in Quebec, a 256-room hotel with 100 chalets, extensive ski facilities and a golf course. It was during this period that he recognized the potential of developing private residential communities of second and vacation homes within the context of a full-service luxury resort. "The idea was to provide all the services and amenities of a fully-staffed luxury private estate - plus some extraordinary amenities such as championship golf - without the hassle and at a fraction of the expense homeowners would incur if they did it all themselves," Ryan says. It is interesting to note that the concept has now become one of the major trends in resort development around the world.
In the late 1980's, Ryan traveled for two years searching for the ideal location to implement his idea. After exploring Russia, Europe, the Mediterranean and Southeast Asia, he decided Costa Rica was the best fit. Despite what he calls "the bureaucratic intricacies of doing business in a developing country," he determined that Costa Rica offered the best mix of opportunity and risk. After thorough research of suitable locations, he developed a pilot project of 110 villas.
In the meantime, he began development of a 588-acre site on the Cacique del Mar peninsula, with plans for two major resorts and private homes. The project required Ryan to essentially carve the development out of wilderness, even designing and building roads, high-tension power lines, water systems and other infrastructure. In a fortuitous coincidence, the opportunity to develop a resort in the Caymans with The Ritz-Carlton Company surfaced just as the Cacique del Mar project ran into bureaucratic difficulties. The Ritz-Carlton, eager to expand in the Caribbean, was looking for someone with offshore development experience. Ryan was a perfect fit for the job.
Throughout his career, Michael Ryan has been noted for his determination and hands-on, total-involvement approach to development. Not satisfied to sit in an office and direct business by phone and email, he moved his entire family to Costa Rica and then to Grand Cayman in order to become involved on a minute-by-minute basis.
"The world is what you concentrate on. Tenacity and total commitment is essential for success in this business. You can either see obstacles, or see opportunities and challenges and decide what it is that you can do differently in order to move ahead," Ryan says. "You can't simply give orders from afar and expect things to work out, especially when dealing with the challenges of a project of this scale. This has involved construction systems and techniques never before used in The Cayman Islands, a scale of construction that was unheard of and some delicately negotiated agreements with local residents, community groups, the local workforce and government. Besides, hands-on involvement is where the fun is."
Ryan's colleagues and staff might also note an inclination toward decisive action as one of the developer's ingredients for success. "Let's do it!" frequently is the directive that ends a discussion of pros and cons, and often sooner than later. A project on the scale of this one in The Cayman Islands requires patience but it also requires self-confidence in risk-taking and decision-making. When The Ritz-Carlton, Grand Cayman and The Residences at The Ritz-Carlton, Grand Cayman open in fall 2005 it will be because the developer, Michael Ryan, drew on a lifetime's experience and knew when to hold on, how to insist and persevere and, most important, when and how to forge boldly ahead. Or, as he might more modestly put it, "I'm not smart. Just stubborn."
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