Announcement Marks
Another Milestone in Strategy to Bring "Best-In-Class" Brands
Across Varied High-End Hotel Segments
NASSAU, The Bahamas, Aug. 4, 2011
/PRNewswire-Asia/ -- Baha Mar, the largest single-phase resort
development in the history of the Caribbean, invested by The
Export-Import Bank of China (“Ex-Im Bank”) as well as the China
State Construction Engineering Corporation (CSCEC), announced
recently that they have signed a series of management agreements
with Hyatt Hotels Corporation, Morgans Hotel Group and Rosewood
Hotels & Resorts, aiming to set a new standard of luxury for
the hospitality industry, delivering a seamless guest experience
and the world-class service that Baha Mar will be known for.
As currently the largest project
under development in North America, and also the largest real
estate project overseas by Chinese companies, Baha Mar will create
a collection of world-renown brands offering the highest levels of
luxury, amenities and service. According to the agreement, Hyatt
Hotels Corporation will operate and manage Baha Mar's planned
700-room Grand Hyatt convention hotel, Morgans Hotel Group will
operate and manage Baha Mar's planned 300-room luxury lifestyle
hotel under the Mondrian brand, and Rosewood Hotels and Resorts
will operate and manage Baha Mar's planned 200-room luxury
hotel.
"Our hotel partners have embraced
the vision of Baha Mar, which is to capture the true spirit of the
region's rich heritage of African, European and Caribbean
influences while delivering the very highest levels of quality and
service. Shifting the sands of global tourism Baha Mar represents a
bold vision, the largest in the history of the Caribbean, and marks
the resurgence of an area known as The Bahamian Riviera. The
successful completion of our management agreements with Hyatt,
Morgans and Rosewood is a significant milestone for Baha Mar as we
continue to turn this vision into a reality," said Mr. Sarkis
Izmirlian, Baha Mar's Chairman and CEO.
"All three of these hotel groups
have been great partners with us throughout this process, and their
ability to work together to bring Baha Mar's vision to reality has
been amazing," said Mr. Don Robinson, President of Baha Mar. "Our
strategy to work with multiple, best-in-class brands gives Baha Mar
the opportunity to feature the very finest brand offerings for each
of our different high-end hotel segments."
Hyatt Hotels Corporation is a global
hospitality company with a portfolio of 445 properties on five
continents, operating under the Hyatt, Park Hyatt, Grand Hyatt,
Hyatt Regency, Andaz, Hyatt Place, and Hyatt Summerfield Suites
brands names. Headquartered in Chicago and with operations in 45
countries, Hyatt is a recognized industry leader in providing
guests with consistent and authentic hospitality experiences.
Morgans Hotel Group has a history of
revolutionizing the hospitality industry with innovative lodging
concepts characterized by design-centric ambiance and timeless
elegance, and is well known for its Delano and Shore Club resorts
in Miami, the Mondrian in Los Angeles, Miami and New York, the St
Martin's Lane and Sanderson properties in London, and the Morgans,
Hudson and Royalton hotels in New York City.
Rosewood Hotels & Resorts has a
long and successful history of managing exclusive, luxury
properties, including three award-winning resorts in the Caribbean:
Rosewood Little Dix Bay in Virgin Gorda; Caneel Bay, a Rosewood
Resort in St. John; and Jumby Bay, a Rosewood Resort in Antigua. In
addition, Rosewood has several of America's most exclusive city
hotels, including the Rosewood Mansion on Turtle Creek in Dallas,
and The Carlyle, a Rosewood Hotel in New York City.
Valued at $3.4 billion, Baha Mar
will include almost 3,500 rooms and residences, the largest casino
in the Caribbean, the largest convention center in The Bahamas, a
Jack Nicklaus signature golf course, three spas, a 20-acre
eco-water park, multiple restaurants, high-end retail and
entertainment venues, and will be situated along a half-mile of
uninterrupted pristine beachfront. It is slated to open in late
2014.
According to projections, Baha Mar
represents a direct benefit to The Bahamas through the creation of
12,000 new jobs and in its first year of operations will contribute
almost $1 billion to the local economy.
For additional information please
visit www.bahamar.com.
SOURCE Baha Mar