Baha Mar announced last night that it has signed"a letter of intent"with Morgans Hotel Group to operate and manage the planned 300-room luxury lifestyle hotel to be included as part of the development.
Baha Mar said in a press release that,"The partnership with Morgans Hotel Group comes following a decision previously announced by Baha Mar to shift its strategy away from aligning with a single family of hotels, towards one that allows it to work with multiple, best-in-class brands".
Baha Mar said Morgans has a long history of revolutionizing the hospitality industry with innovative lodging concepts characterized by personalized service, design-centric ambiance and timeless elegance.
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Thursday, October 14, 2010
Sandals all-inclusive model hurts Exuma
Sandals' purchase of the Emerald Bay Resort has not made the economic impact Exuma hoped for, the president of the island's Chamber of Commerce said yesterday, arguing that its all-inclusive nature meant that 'trickle down' and spin-off effects for Bahamian-owned businesses were limited.
Speaking at a press conference to promote the upcoming Exuma Business Outlook Conference, Floyd Armbrister said many Exumians had been "shocked into reality" since the Sandals property re-opened earlier this year, and now recognised that the growth years enjoyed when Emerald Bay was operated under the Four Seasons brand may not return.
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Speaking at a press conference to promote the upcoming Exuma Business Outlook Conference, Floyd Armbrister said many Exumians had been "shocked into reality" since the Sandals property re-opened earlier this year, and now recognised that the growth years enjoyed when Emerald Bay was operated under the Four Seasons brand may not return.
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Sandals eyes new resort purchase
Sandals is eyeing the purchase of another Exuma-based resort from receivership, this time the $110 million Grand Isle Villas Resort, Tribune Business can reveal, the situation having caused "immediate panic" and a "total sense of shock" on the island.
The all-inclusive resort chain would be an obvious purchaser of the 78-unit property, given that it sits at the heart of the Emerald Bay resort, which Sandals purchased from a different set of receivers in late 2009 for around $25 million.
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The all-inclusive resort chain would be an obvious purchaser of the 78-unit property, given that it sits at the heart of the Emerald Bay resort, which Sandals purchased from a different set of receivers in late 2009 for around $25 million.
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Detroit Hotel Owner owes State$1M+ in taxes
The state of Michigan has left a $1 million bill on the pillow of former Hotel Pontchartrain owner Atul Bisaria.
The hotelier, whose time in Detroit was marked by guest complaints and a trail of unpaid bills owed to contractors who renovated the aging landmark, was recently slapped with a $1 million lien by the state for unpaid taxes.
The hotel, renamed the Riverside Hotel, closed in August 2009 after the company, Shubh Hotels Detroit LLC, defaulted on a $30 million mortgage.
Located at 2 Washington Blvd., across the street from Cobo Center, it was downtown's first major hotel to close amid a national wave of distressed properties.
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Strike Begins at Hilton Hawaiian Village
Unionized Hilton Hawaiian Village workers went out on a five-day strike in Waikiki this morning.
The strike by UNITE HERE Local 5 began at 4 a.m. with about 40 picketers at the two main entrances to the hotel off Kalia Road and Ala Moana Boulevard.
More workers arrived later in the morning and put up picket lines at the service and bus entrances off Paoa Road.
BMB Says It Bid $4 Billion for Atlantis Resort Owner Kerzner
BMB Group, a firm representing Malaysian investors, offered to pay as much as $4 billion for Kerzner International Holdings Ltd., the hotel and casino company that built Atlantis in the Bahamas and Dubai, said BMB founder Rayo Withanage.
The firm’s BMB Advisors Malaysia Ltd. unit sent a letter on Oct. 11 to Sol Kerzner, founder of Kerzner International, offering to pay $3.4 billion to $4 billion for his Bahamas-based company, according to a copy obtained by Bloomberg News.
BMB clients in Malaysia are putting up cash for the bid, Withanage said in a telephone interview from New York. They are attracted by the Atlantis properties, he said. Read More:
