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Tiger Reef Enters Into Restaurant Lease at Major Caribbean Resort
Tiger Reef Enters Into Restaurant Lease at Major Caribbean Resort.
About this update from Tiger Reef Inc
[{"type":"text","content":"\n\n MIAMI, June 20, 2017 (GLOBE NEWSWIRE) -- Tiger Reef, Inc. (OTCQB:TGRR), a diversified producer of ultra premium rums under the Tiger Reef® brand and a developer of casual dining restaurant properties throughout the Caribbean under the Mermaid Reef Ocean Grill & Lounge™ brand, announces that it has entered into a new lease agreement with Royal Resorts Caribbean to open the first Mermaid Reef Ocean Grill & Lounge™ in their Simpson Bay Resort & Marina property located in St. Maarten, Dutch West Indies.\n Key Elements of the New Restaurant and Resort Location: The restaurant will encompass 2,466 sq. ft. on the Marina Plaza waterfront, including two newly constructed outdoor gazebosThere will be inside and outside seating for approximately 80 dinersAn outside lounge will seat approximately 25 guestsThe award winning Simpson Bay Resort & Marina has 419 rooms and villas, making it the largest resort in the Eastern CaribbeanThe Resort is currently undergoing a multi-million dollar waterfront renovation project with additional improvements planned through 2018The restaurant location is just a short walk (5-minutes or less) from four other popular and large resorts, including Flamingo Beach Resort, La Vista Beach Resort, Atrium Resort and Spa, and Royal Palm Beach ResortTarget opening date December 2017 (in time for 2017 tourist season) J. Scott Sitra, Tiger Reef’s President and CEO stated, “We are extremely excited about closing on this new restaurant lease.  After many long months of ongoing negotiations we can proudly say that we have a Class A restaurant location to showcase our Mermaid Reef Ocean Grill & Lounge™ restaurant concept.”  Mr. Sitra continued, “With more than 1,500 hotel and timeshare rooms situated within a short 5-minute walk, this first Mermaid Reef Ocean Grill & Lounge™ will be a uniquely positioned ‘proof of concept’ restaurant to these large resort companies.  Once this restaurant concept is proven successful, we should be able to negotiate additional Class A restaurant locations at similar large resort properties throughout the Caribbean.” About Royal Resorts Based in Cancún, Royal Resorts® is the leading vacation ownership resort company in the Mexican Caribbean.  The company was founded...