$2.5M more realistic, based on condition of existing structures, substantially all of which need to be torn down and replaced.
With a $2.5M US purchase price, the demolition and construction costs + operating costs, you have to have 60%+ occupancy year-round at $100US/night just to service the debt and break even (with 50 rooms) . You need more occupancy to create positive cash flow.
60% occupancy ain't easy year round
Yes, I've done a full fledged financial projection on this (and other) Negril property.