Conrad chain announces plan to build its first hotel in the Caribbean

(BUSINESS WIRE)-BRUSSELS, Belgium–Conrad Hotels, the luxury brand of the Hilton Family, signed a management agreement with the Bahamas-based RAV Bahamas Limited, a subsidiary of The Capo Group, to operate and manage Conrad’s first hotel in the Caribbean, a luxurious 250-room hotel, spa and casino resort, located on the island of Bimini.

Clem Barter, President of Conrad Hotels, said, “We are honored to have been selected for this exclusive project in one of the most prestigious locations in the Bahamas. This will be an extraordinary property and it will fit our plan to expand in the Americas, as well as in other strategic parts of the world.”

Gerardo Capo, Chairman of the Board of The Capo Group, owners of the hotel said: “We are pleased that Conrad, one of the world’s finest hotel brands, is joining us to operate the hotel component of our Bimini Bay Resort. Our luxurious development, coupled with Conrad Hotels’ experience, sets the stage for a success story in the Bahamas.”

The Conrad Bimini Bay Resort and Casino, is part of an overall new seaside village, the Bimini Bay Resort. The hotel, which will be built in the second phase of the development, will offer 250 luxurious guest-rooms, several fine restaurants, an elegant marina, a spa and a casino. An additional wing of 160 residences will be constructed adjoining the hotel.

In a first phase, The Bimini Bay Resort will comprise 320 residential units, 150 marina berths, assorted retail and several restaurants. The subsequent phases will also include an 18-hole Robert Trent Jones golf course and residential villas. Overall, the resort will have 1,590 residential units spread over 700 acres, 500 marina berths, and five miles of white-sand beaches.

The Conrad Bimini Bay Resort and Casino, located 48 miles east of Miami on the island of North Bimini, Bahamas, is a 15-minute air flight or a 90-minute boat trip away. It will be completed during 2008. Bimini is the most beautiful island in the Bahamas. Seven miles long, it is the most western island in the Bahamas and the closest foreign island to the US mainland. Acting as a gateway to the Bahamas, Bimini is internationally known as the fishing capital of this region.

Other Conrad management agreements are in various stages of negotiation in the United States and opportunities are being evaluated in Europe and in the Middle East. Details on these projects will be announced as plans are finalized.

Besides Bimini Bay, new Conrad hotels are scheduled to open in Indianapolis, USA, and Phuket, Thailand in 2006; Las Vegas, USA and in Dubai, United Arab Emirates in 2007; and Beijing in 2008.

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