Hotel Online  Special Report

 Kerzner Estimating Hurricane Frances Costs of
Up to $12 million at The 2,317 room Atlantis
on Paradise Island


PARADISE ISLAND, The Bahamas - Sept. 7, 2004 -- Kerzner International Limited (NYSE: KZL) (the "Company") today released the following statement regarding the impact of Hurricane Frances on Atlantis, Paradise Island:

"Hurricane Frances had no material damage to Atlantis, Paradise Island. The effects of the hurricane were primarily limited to landscaping and the short-term interruption to the business. Atlantis remains open and we have no plans to close the resort.

We would like to extend our concern and sympathy to those affected by Hurricane Frances and as always will work closely with the government of The Bahamas to provide whatever support is needed."

Based on an initial review of its assets on Paradise Island, the Company believes it has incurred costs of approximately $10 million to $12 million, comprised mainly of costs to repair and replace property and equipment and lost business associated with the timing of the storm.

About The Company
Kerzner International Limited (NYSE: KZL) is a leading international developer and operator of destination resorts, casinos and luxury hotels. The Company's flagship brand is Atlantis, which includes Atlantis, Paradise Island, a 2,317-room, ocean-themed destination resort located on Paradise Island.

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
Lauren Snyder
Also See: Kerzner International Reports 2nd Qtr Net Income of $30.1 million, Compared to $22.8 million in Prior Year; Atlantis, Paradise Island Drives Strong Performance / Hotel Operating Statistics / Aug 2004

To search Hotel Online data base of News and Trends Go to Hotel.Online Search

Home | Welcome! | Hospitality News | Classifieds | Catalogs & Pricing | Viewpoint Forum | Ideas/Trends
Please contact Hotel.Online with your comments and suggestions.