Grand Hyatt Property Planned for Bahamas’ Baha Mar Resort
Grand Hyatt Property Planned for Bahamas’ Baha Mar Resort
Baha Mar Ltd. has signed a Letter of Intent with Hyatt Hotels Corporation to operate and manage the planned 700-room Grand Hyatt to be included as part the destination resort metropolis, Baha Mar Resort in Nassau, Bahamas. Baha Mar Ltd. also selected Hyatt as its timeshare partner in the project, which will initially include 50 units as part of the first phase, with plans for expansion in subsequent phases.
Baha Mar previously announced a plan 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, giving Baha Mar an opportunity to feature the best brands for each of the different high-end hotel segments planned for the property. The strategy also affords Baha Mar the ability to reach a broader set of customers based on the sales and marketing and loyalty programs of each brand.
“Signing this letter and our interest in this project supports our company’s overall objective of strategically expanding our presence in key destinations around the globe where we see growth potential and where our guests want to travel and meet,” said Pat McCudden, senior vice president, real estate and development, Latin America and the Caribbean, Hyatt Hotels & Resorts. “We believe our guests will greatly benefit from the addition of a Hyatt hotel in the Bahamas.”
Baha Mar recently announced that it will be partnering with Rosewood Hotels & Resorts to manage and operate the property’s 200-room luxury hotel, and Morgans Hotel Group to manage and operate the 300-room lifestyle hotel.
With almost 3,500 rooms and condos, the largest casino in the Caribbean, the largest convention center in The Bahamas, a world-class golf course, retail village and much more, Baha Mar Resort represents the Caribbean’s largest single-phase destination resort. Baha Mar will employ approximately 4,000 Bahamians over the life of the construction period, which is expected to last nearly four years.
