Baha Mar, Wyndham Nassau Sign Agreement

Baha Mar Resorts Ltd. signed an agreement with Wyndham Hotels and Resorts to manage the 850-room Wyndham Nassau Resort. Wyndham Hotels and Resorts will manage and oversee the daily operations of the resort and provide comprehensive operations, sales, marketing, revenue management and food and beverage support.

The property, which is owned by Baha Mar Resorts, will continue to play an important role in boosting tourism in Nassau, particularly in the Cable Beach area. To oversee the new management agreement, Wyndham Hotels and Resorts appointed Jeffry Humes to the position of managing director.

Humes will work closely with the current management team to ensure a smooth transition with the existing team at the resort and the Wyndham organization. In March 2005, Baha Mar Development acquired the Wyndham Nassau Resort & Crystal Palace Casino and has invested approximately $50 million in capital improvements to the hotel since then.

Baha Mar plans additional improvements and enhancements to the resort to reflect current Wyndham brand standards. These include the addition of the Wyndham brand’s signature Be Well bedding package and Michael Graves-designed room amenities, including alarm clock/radio with an mp3/iPod adapter and coffeemakers.

The property will also add the brand’s new combination café, barista and food mart, named Eat. Refresh. Live. –a coffee bar and breakfast service area that can be transformed into a cocktail bar with casual dining at night. Renovations to the resort’s pool, cabanas and beach facilities are also planned.