Caymanas Acquisition Group (CAG), the operator of Caymanas Golf & Country Club, is recalibrating its business model as it heads toward a key lease review with the Urban Development Corporation (UDC) in 2027, with management increasingly tying the asset’s long-term prospects to surrounding development now taking shape at Caymanas Estates in St Catherine.

CAG took over operations of the UDC-owned property in 2017 under a long-term lease arrangement that includes a 10-year review point on April 1, 2027. At the time, the company committed approximately $30 million in upfront capital investment to stabilise and reposition the facility, according to general manager Peter Lindo.

That initial investment funded a series of upgrades and additions aimed at broadening revenue beyond golf, including the development of Villa Vista — a standalone private events venue that has since become a central pillar of the property’s weddings and premium functions business — as well as improvements to course presentation, facilities and supporting infrastructure.

While the course has remained active, golf participation has not expanded as strongly as management had anticipated.

“Golf hasn’t been as buoyant as we would have liked,” Lindo told the Jamaica Observer. “Our membership base is getting older, and for younger professionals the time commitment is a real challenge. A four-hour round, plus the drive back into Kingston, is not always practical.”

CAG plans to have a frank discussion with the UDC on both the gains and challenges of operating the property when the parties meet, though Lindo declined to go into detail on sensitive aspects ahead of those talks.

In the meantime, the operator is adjusting how it approaches membership. CAG has rolled out a revised structure — Flex Play — aimed at lowering the cost of entry while keeping players engaged through reduced green fees per round.

“We’re introducing a smaller base fee, and then the member pays a much, much reduced green fee every time they play. The idea is to make membership more accessible, without weakening the revenue base,” Lindo said.

The shift reflects a broader strategy that has been evolving since CAG took over the lease.

Early on, management moved to monetise underused midweek capacity by repositioning the property as a venue for corporate meetings, conferences and retreats, supported by dedicated meeting spaces and on-site amenities. In 2019, the operator also introduced free weekday golf lessons for women as part of an effort to widen local participation and refresh the player pipeline.

Where the business has remained consistently resilient is events.

Caymanas now hosts more than 100 weddings annually, alongside a steady flow of large paid functions and corporate bookings, with Villa Vista playing a central role in that offering. Even so, that revenue stream faced disruption late last year after Hurricane Melissa triggered cancellations during the November–December peak period, despite limited physical damage to the property.

From a sporting standpoint, Lindo told the BusinessWeek that the course itself has held its standard, having hosted multiple major tournaments over the past eight years, including Caribbean junior championships — reinforcing that course quality has not been the binding constraint.

Instead, he said, the longer-term outlook for the business is closely linked to what happens beyond the gates.

“As the area develops, we’ll have more density. That helps to overcome one of the biggest issues, which is people having to drive far to get here,” Lindo said.

Those expectations now align with renewed momentum at Caymanas Estates, where the UDC is advancing the Raintree Commercial Complex and related residential and commercial developments, alongside the Caymanas Special Economic Zone. Management believes that rising activity, jobs and housing in the area could materially change usage patterns at the golf property over the next three to five years.

The development narrative at Caymanas echoes momentum seen elsewhere along the Mandela Highway corridor. About 20 minutes’ drive east from the golf course, the Kingston 876 commercial district in Ferry, Kingston has emerged as a bustling business cluster, highlighting growing investor appetite for land outside traditional city cores. The 94-acre Kingston 876 complex, developed by Cascade Group Jamaica, is home to corporate facilities including the $60-million headquarters for Tropical Battery Company Ltd and distribution hubs for local and multinational operators, as well as service businesses like FESCO’s Mandela Highway service station and other commercial tenants.

Over the years, Caymanas Golf and Country Club has secured business from big corporations in the vicinity, including the Lasco Group of affiliated companies, Wisynco Group and Hi-Pro.

While Lindo declined to go into detail on some operational matters, he said broader infrastructure constraints remain, including water and electricity reliability and road conditions leading to the property — issues that will require continued engagement with the UDC.

In parallel, CAG continues to invest in long-term demand through youth golf programmes run in partnership with InSports and supported by the Sports Development Foundation.

“It’s not something that pays off overnight, but if you don’t build interest in the sport at a young age, you won’t have players 10 years from now,” Lindo said.

The UDC-owned Caymanas Golf & Country Club has been operated by Caymanas Acquisition Group since 2017, with both parties due to assess performance and future terms when the lease reaches its 10-year review point in 2027.

Villa Vista, one of the newer venues developed under Caymanas Acquisition Group’s initial $30-million investment in the course, has become central to the club’s weddings and premium functions business.