Gencom-Led Partnership to Develop Ritz-Carlton Rose Island
MIAMI, FL, November 1, 2006. Gencom Group, an investment and development firm, announced that through a joint venture partnership it will develop The Ritz-Carlton Rose Island, Bahamas, which is just four miles off Nassau and Paradise Island in the Caribbean.
The exclusive luxury resort, which is scheduled to open in late 2009, will sit on a 230-acre private island. The resort will feature a 180-room Ritz-Carlton hotel and more than 400 residential units that will include condo hotel units, villas, townhouses, private estate homes and a 40 Ritz-Carlton Club fractional product. It is envisioned that there will be rental programs available to all the homeowners.
Other features will include a 300 slip marina that will provide full retail and marina services, a helipad and a ferry from Nassau and Paradise Island for homeowners, guests and visitors, various swimming pools, a luxury spa and several dining alternatives, including specialty and casual restaurants. An added amenity of the project will be an eight-acre nature preserve. In addition, residents can snorkel, dive and enjoy water sport activities along the white pristine beaches.
"The Ritz-Carlton, Rose Island, Bahamas will provide guests and homeowners the best of both worlds - an intimate and private environment that offers the comforts of home as well as an array of recreational, shopping and dining activities on nearby Paradise Island and Nassau," said Karim Alibhai, founder and principal of Gencom. "This is a great project for our team to be involved with and a wonderful addition to our Ritz-Carlton portfolio. To date, this project is our sixth Ritz-Carlton property."
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
