Baha Mar Signs Management Agreement with Starwood
Operateration of Cable Beach Property In Nassau, Bahamas
DECEMBER 12, 2006. Starwood Hotels & Resorts Worldwide, Inc.(R) (NYSE:HOT) and Baha Mar Resorts Ltd. today announced an agreement for Starwood(R) to assume management of the Radisson Cable Beach property in Nassau, Bahamas, and convert the luxury resort into a Sheraton(R). The Sheraton Resort at Cable Beach will open in spring 2007, as the resort nears its completion of an extensive $80 million renovation project. The Sheraton Resort at Cable Beach will be the first of four renowned Starwood brands to open its doors as part of Baha Mar's mega resort project.
The Sheraton Resort at Cable Beach is undergoing a top-to-bottom face-lift, including renovations to the guest rooms, lobby, restaurants and public spaces. The conversion is the first phase of a dramatic capital investment program undertaken by Baha Mar Resorts Ltd. In November 2005, Baha Mar announced that it had formed an unprecedented relationship to develop a mega-resort on magnificent Cable Beach with two of the world's best-known gaming and hospitality companies - Harrah's Entertainment, Inc. (NYSE:HET) and Sheraton's parent company, Starwood Hotels & Resorts Worldwide, Inc.
'Since acquiring the Wyndham, Radisson and Nassau Beach hotels in 2005, we have made it our primary goal to raise service standards and dramatically improve the guest experience across all three existing Cable Beach Resort properties. We are excited that Starwood is bringing its distinguished Sheraton brand and hospitality expertise to Cable Beach in order to provide our guests with the highest standard of service,' said Don Robinson, President of Baha Mar Resorts, Ltd. 'The signing of this management agreement also marks an important milestone in the development of the highly anticipated Baha Mar mega resort project.'
Just minutes from the Nassau/Paradise International Airport, the Sheraton Resort at Cable Beach is not only an ideal vacation destination, but also a stunning venue for business functions. Located on one of Nassau's most famous white sand beaches, the resort features ample meeting space and a wide range of recreational offerings including golfing, snorkeling, sailing, a lively bar scene, and several fine dining options in addition to a casual poolside grill and swim-up bar.
Guests will feel a sense of belonging from the moment they walk in the door of the Sheraton Resort at Cable Beach. After a seamless check-in, enhanced by the subtle influence of 'Welcoming Warmth,' the lobby's signature scent, guests will be welcomed to their elegantly appointed rooms, which feature the Sheraton Sweet Sleeper Bed(R), a multi-layered creation adorned with voluptuous down pillows, sensuous cotton sheets and a signature blanket and duvet. Rooms will be equipped with high-speed Internet access, LCD flat-screen televisions, and walk-in showers, roomy desks and ergonomic chairs.
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 
