Marriott takes over original Atlantis resort
3400-room resort in The Bahamas to operate under a franchise agreement
Atlantis, Paradise Island, the resort that was the forerunner to the property of the same name on Palm Jumeirah in Dubai, is to join Marriott International’s Autograph Collection.
The 3400-room resort will operate under a franchise agreement with Marriott and is the first member brand for the independent hotel collection in The Bahamas. It will also be the largest hotel in the portfolio.
Owned by Brookfield Asset Management, which purchased it from Kerzner International Holdings in 2011, the resort is expected to officially join the Autograph Collection this autumn.
“Having Atlantis, Paradise Island join our Autograph Collection is a milestone achievement for the brand and the company,” said Marriott International president and CEO Arne Sorenson.
Atlantis, Paradise Island has 40 restaurants, bars and lounges, as well as the largest casino in The Bahamas. It also has a marina capable of handling large yachts and a 141-acre waterscape comprised of fresh and saltwater lagoons, pools and habitats.
It will operate under a long term franchise agreement and Marriott will provide a US $100 million mezzanine loan to the project.
Kerzner International Holdings, founded by Sol Kerzner, opened the second Atlantis on the outer frond of Palm Jumeirah in Dubai in 2008.
It sold its 50% stake in the property to co-owner Istithmar World in 2012, although it continues to manage the 1500-room resort as part of a multi-year management agreement