The Ritz-Carlton Hotels and the government of The Bahamas have announced plans for an exclusive resort on Rose Island, four miles off Nassau and Paradise Island.Scheduled to open in 2009, The Ritz-Carlton Rose Island, Bahamas will be an integral part of a Ritz-Carlton-branded, private, 230-acre enclave which will eventually include, in addition to the hotel, a sheltered marina for yachts, estate homes, condominiums, and townhouses.

It will provide a new level of luxury in one of the Caribbean’s most idyllic vacation settings.

Ezzat Coutry, senior vice president of Ritz-Carlton for Florida and the Caribbean, called the planned resort “the ultimate destination of choicefor people who put a premium on privacy, yet also want to be neardestinations like Paradise Island, which provide an array of recreational,shopping, and dining opportunities.”

“At Ritz-Carlton we share a commitmentto preserving the beauty and serenity of Rose Island, while also partneringin a development which is certain to be one of the world’s most elegant,luxury lifestyle destinations, whether for vacationers or homeowners,” Mr.Coutry added.

Mr. Coutry also expressed Ritz-Carlton’s appreciation of the vision andefforts of Mr. Lorie Lovejoy and his family, as well as those of Mr. Donald Monti and Mr. Donald Urgo, for making this development opportunity possible.

“Rose Island has always been a treasure waiting for exactly the right kind ofdevelopment and Ritz-Carlton is that development,” said Mr. Lovejoy.

Describing it as a “great opportunity for Ritz-Carlton to add a premier destination in The Caribbean,” Simon F. Cooper, president and chief operating officer, thanked the Government of The Bahamas for “their enthusiastic support for creating a world-class leisure destination to attract sophisticated travelers, and those seeking an exceptional vacation home location.”

He noted guests of the hotel and homeowners would gain entrée to Rose Island only by helicopter or ferry, and could be easily transported to Nassau and Paradise Island. “We have long wanted to add a Ritz-Carlton branded resort in The Bahamas, and we believe Rose Island waswell worth waiting for,” said Mr. Cooper.

When completed, the 230-acre site is expected to provide a collection ofmore than 400 homes in the scenic setting, surrounded by the waters of the Caribbean.

The hotel site will be on the western side of the island with anorth facing beach.

The guestrooms and suites will average 550 square feetand feature large balconies. Other planned amenities include a swimming pool, lavish spa, gourmet restaurant, and intimate meeting space.
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