Wyndham Vacation Ownership, the world’s largest vacation ownership company and a member of the Wyndham Worldwide family of companies announced that it has acquired the Grand Beach Palace resort (formerly the Renaissance Grand Hotel) located on the northeast side of St. Thomas in the U.S. Virgin Islands, with plans to convert the property into its flagship Caribbean timeshare resort. Terms of the acquisition were not disclosed.
This has been a busy year for Roco Ki, the multi-billion-dollar luxury resort and residential development underway in the Punta Cana area of the Dominican Republic, as Phase I readies for opening in winter 2007-2008. Upon opening, Roco Ki will be one of the largest resort community developments in the Caribbean.
The four-star Eurostars Grand Marina Hotel GL in Barcelona is the best hotel in Spain, according to the top-500 ranking that U.S. magazine Travel + Leisure pieces together each year and which highlights the 500 best hotels in the world.
Baha Mar Resorts has signed a joint venture agreement with a subsidiary of Harrah’s Entertainment to create and develop the 1,000-acre Baha Mar project in the Cable Beach area of Nassau, Bahamas, which will include four managed hotels under Starwood’s W, St. Regis, Westin and Sheraton brands.
Marriott International will expand its Caribbean portfolio in mid-2007 with the reflagging of the 151-room former Carambola Beach Resort on St. Croix’s north shore to Marriott’s Renaissance brand. The hotel will be operated by Ocean Properties, a Marriott franchisee.
The Villa Group has successfully completed the purchase of oceanfront parcels in Isla Mujeres, just off the Yucatan coast near Cancun, and on the bay of Ensenada Blanca in Loreto, Baja California Sur, Mexico, and is now in the design and construction phase of destination resorts in both locations.