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Bay Club in Eleuthera, Bahamas . The 73 room Resort Will be Starwood's First Luxury Collection Property in the Bahamas |
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| WHITE PLAINS, N.Y. - July 5, 2005 -- Starwood Hotels & Resorts
Worldwide, Inc. (NYSE: HOT) announced today that it has signed an agreement
with Eleuthera Properties, Ltd., a company chaired by prominent Bahamian
businessman, Franklyn R. Wilson CMG, to develop Cotton Bay Villas, an exclusive
new resort that will be a member of Starwood's prestigious Luxury Collection.
Evoking images of a nostalgic and bygone era, the magnificent 1,500-acre
project will be unveiled in two phases with Phase I comprising of two and
three bedroom villas, 114 estate lots and a spectacular 26,000-square foot
Clubhouse. The soft opening is scheduled for December 2006 with 25 premier
beachfront units and Clubhouse with full amenities and services and a private
marina. Completion of the 73 guestroom resort is scheduled for December
2007. Future phases will include an 18-hole championship golf course, wellness
center/spa, additional real estate development and expansion of the marina.
Eleuthera is approximately 100 miles long and less than one mile wide. The island is a destination for an elite clientele and home to many international celebrities with access to the island from Nassau and south Florida by commercial air carriers and private jets. Cotton Bay derives its name from the term "to cotton," a local term that refers to a "place where people befriend one another while being at peace with nature." "We are thrilled to have our first Luxury Collection property in The Bahamas located on Eleuthera - considered one of the most exclusive addresses in the world," said Stephen Alden, senior vice president of The Luxury Collection. "The island's natural scenic beauty and lush vegetation make Cotton Bay Villas an ideal destination for the discerning leisure traveler looking for the ultimate vacation experience. Cotton Bay Villas will evoke a casual elegance, combining simplicity with island style to create a distinctively elegant atmosphere along with the impeccable service that is the hallmark of The Luxury Collection." Cotton Bay Villas will feature a spectacular octagonal enclosed pavilion situated on a bluff overlooking the Atlantic, the perfect venue for weddings and social events. The Clubhouse will include a Bahamian-fusion restaurant featuring a well-renowned island chef. Guests at the resort will have access to two small, private islands which feature a 20-acre bird sanctuary and a seven-acre secluded beach. Owners and guests at the resort will have preferred access to the resort's private marina in Davis Harbour, accommodating yachts up to 70 feet. Only minutes away, guests will enjoy world-class fishing grounds and phenomenal scuba-diving, snorkeling and other recreational water sports. This spectacular new resort is currently part of the Audubon International Signature program, which acknowledges environmentally-friendly developments. As a member of this program, Cotton Bay Villas will be home to a plant nursery and an on-site horticulturist dedicated to nurturing the property, saving trees and other foliage from cleared land for replanting throughout the development. Environmental integrity as well as economic viability will ensure that the island's unique ecological systems and scenic landscapes will be preserved for the enjoyment of residents and visitors. Members of Starwood's Luxury Collection include such world-class hotels and resorts as the Hotel Gritti Palace, Venice; The Phoenician, Scottsdale, Arizona; Hotel Imperial, Vienna; Hotel Cala di Volpe, Costa Smeralda, Sardinia, Italy; and, Bora Bora Nui Resort & Spa, French Polynesia. Starwood Hotels & Resorts Worldwide, Inc. is one of the leading hotel and leisure companies in the world with approximately 750 properties in more than 80 countries and 120,000 employees at its owned and managed properties. |
| Contact:
Starwood Hotels & Resorts Worldwide, Inc.
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