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Article: CLUB MED SOLD.(Kerzner International to buy the Club Med resort on Paradise Island in the Bahamas)(Brief Article)
- Article from:
- Caribbean Update
- Article date:
- November 1, 2003
CopyrightCOPYRIGHT 2003 Caribbean Update, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Kerzner International has agreed to buy the Club Med resort on Paradise Island in the Bahamas for approximately US$40 million, reports UPI (Sept. 22, 2003). The 20-acre property, which includes a 306-room hotel and two restaurants, is adjacent to the site of a 1,200 room hotel that will be built as part of the recently announced US$600 million Phase II expansion of the Atlantis Resort. Butch Kerzner, president of Kerzner International, described the acquisition as "a great investment opportunity for us as we look to the future and our long-term growth plans for the Paradise Island properties, which ultimately contemplate 4,000 to 5,000 ...