Wyndham Hotels & Resorts to Enter St. Croix

Wyndham Hotels and Resorts today announced it will enter a new Caribbean market with the development of the luxury 400-room Wyndham St. Croix Golf Resort and Casino, which will become the keystone of a $250 million complex that includes a new 43,000-square foot conference center on St. Croix, U.S. Virgin Islands.

The 294-acre property, scheduled to break ground this spring and open in 2010, will be developed by New Jersey-based Golden Resorts LLLP in joint ownership with Jericho All-Weather Opportunity Fund of Boca Raton, Fla., and managed by Wyndham Hotel Management Company.

The resort will feature a 25,000 square-foot casino; 18-hole Jack Nicklaus signature golf course; 17,000 square-foot world-class spa and fitness center; four restaurants; lounges; retail stores; and kid’s club.

The property will be located on the south shore of St. Croix, near downtown Christiansted and 15 minutes from Henry E. Rohlsen International Airport.

The U.S. Virgin Islands Public Finance Authority, a public corporation which assists the government in raising capital for essential public projects that promote and sustain economic and social development, awarded Golden Resorts $32.5 million for the construction, operation and management of the St. Croix Conference Center, which will be part of the resort.

The move is designed to stimulate the island’s economy through financial support of investment ventures designed to increase tourism and employment.