ISLAND, The Bahamas - Dec. 4, 2002 -- Kerzner International Limited (NYSE:KZL)
announced today that its luxury resort hotels will be operated and marketed
under the "One&Only" brand. Including investments financed at the local
level, and also contemplated expansion projects, One&Only's management
team will have overseen approximately $500 million in luxury resort development.
This has created a collection of unique resorts that sets the Company on
its way to achieve its goal of becoming the pre-eminent worldwide luxury
One&Only is designed exclusively for the luxury
resort market. Conceived as a hallmark of quality, this unified branding
approach will raise the group's profile amongst owners, partners and investors
and bring it to front of mind for these audiences and for consumers alike.
The brand will consolidate the success of the Company's finest properties
worldwide, and combined with Kerzner's experience as a luxury resort operator,
One&Only will provide a catalyst for future expansion into exciting
These initial properties will be joined by the development of new luxury resorts in the Company's development pipeline. The Company will introduce One&Only to the travel trade and consumer worldwide in early to mid-2003 through an integrated marketing campaign.
Butch Kerzner, CEO of One&Only, comments: "When it comes to developing new hotels, we do not apply a standard formula. One&Only is a guarantee that each of our hotels will provide a distinctive and unique experience. At the same time, each hotel is underpinned by our passion for quality, fun and luxury. We do luxury, but not in a stuffy way. We like to offer our guests lots of choices, from taking a complete break from it all, and having some peace and quiet, to being more active and enjoying all the entertainment and facilities on offer. These values are the heart and soul of One&Only. It's a brand built on our long experience, which we believe makes us better than anyone else at understanding the business."
The Company plans to brand all its future luxury resort hotels as One&Only. A new One&Only resort is currently under development on the island of Reethi Rah in the Maldives and a new property in Marrakech, Morroco, is in early stages of planning. Further One&Only properties in other markets are currently being considered.
One&Only Resorts is the management company behind the resort hotels of Kerzner International Limited, a leading international developer and operator of premier resorts, casinos and luxury hotels. One&Only is the new brand that Kerzner has created for its rapidly expanding portfolio of 5-star, luxury properties.
One&Only is distinguished by a simple philosophy: the promise of distinctive resorts and an outstanding experience at the world's best locations. There are currently five One&Only resorts to be discovered:
The recently-acquired Palmilla in Mexico and a new property on the island of Reethi Rah, Maldives, which is currently under development, will shortly join the brand's portfolio.
A new property in Marrakech, Morroco, is in early stages of planning.
Kerzner International Limited is a leading international developer and operator of premier casinos, resorts and luxury hotels. The Company's flagship destination is Atlantis, a 2,317-room, ocean-themed resort located on Paradise Island, The Bahamas. Atlantis is a unique destination casino resort featuring three interconnected hotel towers built around a 7-acre lagoon and a 34-acre marine environment that includes the world's largest open-air marine habitat. The Company also developed and receives certain revenues from Mohegan Sun in Uncasville, Connecticut. Following the completion of a $1 billion expansion, the Native American-themed Mohegan Sun has become one of the profitable casino resort destinations in the United States. "The Company will continue to seek opportunities for further major destination casino resorts for which it will create and build strong, stand-alone brands like Atlantis", says Sol Kerzner, Chairman and CEO of Kerzner International. In the luxury resort hotel business, the Company manages a collection of nine luxury resorts in The Bahamas, Mauritius, Dubai, the Maldives and Mexico, and has entered into a management and development agreement for a new property in the Maldives.
This press release contains forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Kerzner International Limited
|Also See:||Kerzner International Limited Acquires 50% Interest in the 115-room Palmilla Resort for Approximately $38.75 million / Sept 2002|
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