Deal of the Year Awards Revealed
CHRIS honors best developments, transactions of 2017 at Miami conference
The Caribbean Hotel & Resort Investment Summit (CHRIS) unveiled the winners of the 2017 Deal of the Year Awards on May 18 at the JW Marriott Marquis in Miami, Florida. The Breathless Montego Bay Resort & Spa in Jamaica was named Development of the Year, while the Baha Mar Resort in Nassau, Bahamas, earned the Transaction of the Year honor.
AMResorts, an Apple Leisure Group subsidiary, debuted Breathless Montego Bay for a development cost of $50 million on Feb. 28, 2017. Marking the brand’s first resort in the destination, the 150-suite, 5-story adults-only property is surrounded by Montego Bay’s Marine Park and includes five bars and lounges, as well as the only rooftop pool and bar in Jamaica.
Finalists in the Development of the Year 2017 category also included the AC Hotel San Juan Condado in San Juan, Puerto Rico, and the Harbor Club, St. Lucia Curio Collection by Hilton in Rodney Bay, St. Lucia.
Meanwhile, Baha Mar is a 1,000-acre integrated resort located in New Providence Island’s Cable Beach area. With three luxury hotels (Grand Hyatt Baha Mar, SLS Baha Mar and Rosewood Baha Mar) totaling over 3,000 keys and amenities such as a casino, convention center, spa and TPC-class golf course, the resort opened for business in April 2017. Baha Mar Resort was sold by Perfect Luck Assets Ltd. to Chow Tai Fook Enterprises for an undisclosed price.
Other finalists in the Transaction of the Year 2017 category included the San Juan Marriott Resort & Stellaris Casino in San Juan, Puerto Rico, and The Ritz-Carlton Grand Cayman Resort in Grand Cayman, Cayman Islands.
Gary Brough of KPMG chaired the Development of the Year award committee and Kent Schwarz of Colliers Intl. chaired the Transaction of the Year award committee. The groups were comprised of hotel industry leaders who selected, reviewed and nominated deals. The finalist information was then sent to the CHRIS delegates for voting.