The principal shareholder of Crane Ridge Resorts in Ocho Rios plans to sell several of the units in the resort as the first step towards converting it into a full strata or condominium.

George Allen, an executive of the Canadian Commercial Workers Pension Plan (CCWIPP) who oversees the plan's Jamaican investments, told the Business Observer on Monday that finalising of the plan to convert the property to a strata would take place over the next thirty days.

"We are going to convert our property Crane Ridge, which is out in Ocho Rios, to a strata -the Jamaican terminology for a condominium," Allen said. "We will be working on that over the next 30 days."

The Canadian pension fund bought the hotel property in late 1998, just after sealing the acquisition of the Hilton Kingston from NCB that year.

The Crane Ridge was bought from Manufacturers' Merchant Bank.

Formerly known as Comfort Suites, Crane Ridge has nine three-storey blocks, with a total of 90 one and two-bedroom units located on 19-acres of land in Ocho Rios.

The Canadian pension plan owns approximately 70 rooms, with the rest being owned by individuals. Hence, the property currently operates as a strata.

According to Michael Gayle, manager of the resort, the rooms are marketed for Jamaicans living in the island and overseas, a market which he says has been very receptive to the marketing.

"We aggressively market to Jamaicans, both home and abroad," Gayle told the Business Observer yesterday. "Last year, we had 65 per cent occupancy for the year, and this year, so far we have had about 63 per cent occupancy."

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