Plans for Huge Bahamas Resort Unveiled

Nassau, Bahamas -- Plans for a huge resort here, including four Starwood hotels and a Caesars hotel-casino, were unveiled today.

When completed, in 2010, the 1,000-acre, $1.6-billion Baha Mar Resorts will be the largest resort in the Caribbean, with 3,550 hotel rooms and condominiums combined and 175,000 square feet of meeting space.

The project is joint venture of Baha Mar Resorts Ltd., Harrah's Entertainment, and Starwood Hotels. Baha Mar Resorts Ltd. will be the majority partner, with more than a 56-percent interest. The three companies have signed a letter of intent but as of yet no definitive agreement.

Sarkis Izmirlian, chairman and chief executive of Baha Mar Resorts Ltd., said the new resort "will dramatically enhance the tourism landscape in this hemisphere."

The hotels slated for the resort are the following: the 1,000-room Caesars Resort Hotel and 95,000-square-foot casino; 300-room W, including 100 condominiums; 300-room St. Regis, also including 100 condos; 700-room Westin; and 700-room Sheraton.

Harrah's will operate Caesars, its premier brand, while Starwood will manage its branded hotels. Baha Mar Resorts Ltd. will operate cross-property services.

Extensive renovation is also planned for the existing 550-room Wyndham Nassau Resort.

Set on 3,000 feet of beachfront property at Nassau's Cable Beach, the Caribbean-design resort will also feature an 18-hole Jack Nicklaus Signature golf course, a free standing luxury spa, and 50,000 square feet of retail and dining space.