28-30 Apr 2024
Radisson Blu Hotel,
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08-08 May 2024
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Milano ,
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10-12 May 2024
China Import & Export Fair Complex,
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13-16 May 2024
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The Ravenala Attitude Hotel,
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23-24 May 2024
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30-30 May 2024
Four Seasons Hotel George V,
Paris,
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New owner for Kerzner's flagship resort |
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By Pete Hayman 01 Dec 2011 |
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Kerzner International Holdings has revealed that it has transferred ownership of its flagship Atlantis Paradise Island resort in the Bahamas to Brookfield Asset Management.
Brookfield will also acquire the One&Only Ocean Club and One&Only Palmilla resorts as Kerzner "shifts" its strategy from being an owner/operator to a management company.
Kerzner said the move will allow it to continue growing the Atlantis and One&Only brands and has signed a management contract for the day-to-day operation of the resorts.
An agreement in principle for the ownership transfer also sees Brookfield agree to exchange of US$175m (EUR130m, £111m) of debt for equity in the Bahamian and Mexican groups.
Kerzner chair and chief executive officer Sol Kerzner said: "This transaction will permit Kerzner to move forward as a management company, allowing us to get back to doing what we do best.
"Kerzner will continue to own the Atlantis and One&Only brand names and retains the right to develop additional resort properties under these names."
The ocean-themed Atlantis Paradise Island resort includes one of the largest casinos in the Caribbean, the Dolphin Cay interaction and education centre and a Mandara spa.
Image: Atlantis Paradise Island - John Casale
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News |
1 to 12 of 8705 news stories |
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