The proposed cruise port off Belize City, once known as Stake Bank, has been rebranded as ‘Olo Caye’ following legal battles, receivership, and eventual government acquisition.
According to a press release dated April 10th, the project will be transformed into a world-class cruise port with a luxury resort. “Olo Caye is led by Piero Dibattista, whose professional record spans more than 30 years and includes the successful transformation of tourism in Roatán, Honduras,” the release noted.
Dibattista said his team is bringing its expertise to Belize. “We can ensure that Olo Caye is led by a team that has delivered world-class results in the Western Caribbean,” he said. “We will bring the visitors, but it is the Belizeans who shape the experience. Our role is to build the platform—their talent and creativity are what make travelers want to return. Through this partnership, we are committed to empowering communities to benefit economically and contribute meaningfully to Belize’s future.”
Key features of the project include two advanced piers for cruise ship and ferry access, retail and dining districts, and accommodations and amenities designed to host global events. The cruise port is expected to generate approximately 5,500 jobs during construction and 750 permanent positions once fully operational. The development team indicated that construction on the island is slated for completion in early 2028.
The project’s first phase is expected to begin in the coming weeks with the construction of a staging site at Mile 5 on the George Price Highway, which will serve as an operations hub and staff housing.
Stake Bank has long been a delayed, high-stakes cruise port project initially developed by Michael Feinstein, which became entangled in significant debt and legal disputes. Originally envisioned as a major deep-water terminal, the project entered receivership in 2024 after more than BZ$200 million had been invested.
In late 2024, the Government of Belize announced plans to compulsorily acquire 23.4 acres of land on the island from Feinstein to complete the project, leading to further legal challenges. The acquisition was finalized in early 2025 following a High Court ruling. The Feinstein Group has challenged the move, arguing that it constitutes “high-handed interference” and represents the taking of private property to benefit a foreign entity from Honduras.
However, the court ruled that the acquisition was constitutional, stating that it serves a legitimate public purpose. According to the ruling, the government aims to recover prior investments, revive the stalled project, and address the lack of a proper cruise port in Belize.