Vista Development, Ltd. and Hyatt Enter Agreement to Develop Andaz Turks & Caicos at Grace Bay, the Brand’s First Caribbean Property
September 25, 2018 1:13pm
CHICAGO (September 25, 2018) – Hyatt Hotels Corporation (NYSE: H) announced today plans for Andaz Turks & Caicos at Grace Bay, a hotel and residences development expected to open in 2021, marking the Andaz brand’s first property in the Caribbean. To be developed by Vista Development Ltd. of Pronet Capital, LLC, the property will stretch more than 5.5 acres providing a new level of luxury hospitality and real estate on the archipelago’s famed Grace Bay Beach.
The Andaz brand delivers thoughtful, unscripted service for curious-minded guests in search of inspiring local experiences. Andaz Turks & Caicos at Grace Bay will be situated on the celebrated western end of Grace Bay Beach, ranked the number one beach in the world by TripAdvisor’s Traveler Choice Awards 2018. With prized real estate next to the Bight Reef, the resort will fully immerse guests into the locale.
“We are thrilled to announce development plans for the first Andaz branded resort and residences in the Caribbean,” said Myles McGourty, senior vice president, Latin America & Caribbean, Hyatt. “We look forward to working with Vista Development Ltd. to introduce the inspiring concept of this luxury lifestyle Hyatt brand to a world-class destination like Turks & Caicos’ coveted Grace Bay.”
The resort will be comprised of two buildings, the 59-key hotel and the 74-unit branded residences, with co-located amenities. Andaz Turks & Caicos Residences at Grace Bay will include studios, one-bedroom, two-bedroom and three-bedroom units, as well as penthouses with four bedrooms. Plans call for residential owners to have the option to participate in a hotel rental program, managed by Andaz Turks & Caicos at Grace Bay.
The thoughtfully designed master plan will offer guests and owners exceptional dining choices at four restaurants and bars including an elevated venue featuring unobstructed panoramic views. Health and fitness amenities at the state-of-the-art indoor wellbeing facility will include an outdoor garden yoga studio and a full service indoor and outdoor spa with dedicated luxury concierge services.
“It’s an honor to share our vision for the project in tandem with such a reputable flagship brand as Andaz,” said Matt McDonald, director of Vista Development, Ltd. “Through our more than 30 collective years of work in the Turks & Caicos market, we’ve recognized the uniqueness of the location and the potential for an unparalleled offering. We look forward to seeing the project evolve with Hyatt and become part of the community and culture of Turks & Caicos.”
For more information, please visit andaz.com.
andaz turks & caicos,
Global in scale while local in perspective, the Andaz brand of luxury lifestyle hotels weaves the sights, sounds, and tastes of each property’s surroundings for a distinct experience. Through thoughtful, unscripted service, Andaz hotels enable guests to go beyond the familiar and satiate their curiosity while immersing them in the spirit of the eclectic culture around them. Seventeen Andaz hotels are currently open: Andaz 5th Avenue and Andaz Wall Street in New York, Andaz San Diego, Andaz West Hollywood, Andaz Napa, Andaz Scottsdale Resort & Spa, Andaz Savannah, Andaz Maui at Wailea Resort, Andaz Ottawa ByWard Market, Andaz Mayakoba Resort Riviera Maya, Andaz Costa Rica Resort at Peninsula Papagayo, Andaz London Liverpool Street, Andaz Amsterdam Prinsengracht, Andaz Singapore, Andaz Delhi, Andaz Xintiandi in Shanghai, and Andaz Tokyo Toranomon Hills. For more information, please visit andaz.com. Follow @Andaz on Facebook, Twitter and Instagram, and tag photos with #WhenInAndaz.
Contact: Carla Santiago
Hyatt Hotels Corporation, headquartered in Chicago, is a leading global hospitality company with a portfolio of 14 premier brands. As of June 30, 2018, the Company's portfolio included more than 750 properties in more than 55 countries across six continents. The Company's purpose to care for people so they can be their best informs its business decisions and growth strategy and is intended to attract and retain top colleagues, build relationships with guests and create value for shareholders. The Company's subsidiaries develop, own, operate, manage, franchise, license or provide services to hotels, resorts, branded residences, vacation ownership properties, and fitness and spa locations, including under the Park Hyatt®, Miraval®, Grand Hyatt®, Hyatt Regency®, Hyatt®, Andaz®, Hyatt Centric®, The Unbound Collection by Hyatt®, Hyatt Place®, Hyatt House®, Hyatt Ziva™, Hyatt Zilara™, Hyatt Residence Club® and exhale® brand names. For more information, please visit www.hyatt.com.
Contact: Gloria Kennett
Vista Development, Ltd. and ProNet Capital, LLC, Vista’s Colorado-based sister company, was co-founded in 2000 by Mr. McDonald as a boutique private equity and real estate development firm with an established track record in the development and co-development of multifamily properties in the Seattle area and hospitality properties primarily in the Caribbean market. With the addition of Mr. Jon Siegel in 2004, ProNet started to focus more heavily on the Caribbean Hospitality market, and Vista Development was formed as the Turks & Caicos entity to ProNet. Vista is joined by Ramez Hakoura, a long-time local TCI businessman, John Fair who is a co-founder of the Grace Bay Club, and Grand Turk developer Dr. Peter Lue.
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