Paul Hastings Advises Baha Mar Ltd. on $3.5 Billion Resort Project
Los Angeles, Calif.
- Paul Hastings LLP, a leading global law firm, announced today that the firm represented Baha Mar. Ltd., a resort hotel developer, in signing a series of management agreements with Hyatt Hotels Corporation, which will operate and manage Baha Mar's planned 700-room Grand Hyatt convention hotel, Morgans Hotel Group, which will operate and manage Baha Mar's planned 300-room luxury lifestyle hotel under the Mondrian brand, and Rosewood Hotels and Resorts, which will operate and manage Baha Mar's planned 200-room luxury hotel.
At a cost of $3.5 billion, Baha Mar will include almost 3,500 rooms and residences, the largest casino in the Caribbean, the largest convention center in The Bahamas, a Jack Nicklaus signature golf course, three spas, a 20-acre eco-water park, multiple restaurants, high-end retail and entertainment venues, and will be situated along a half-mile of uninterrupted pristine beachfront. Baha Mar represents the largest single-phase resort ever developed in the Caribbean, and is currently the largest project under development in North America. The project is being financed by a $2.45 billion loan from China Export-Import Bank. The project is expected to open in December 2014.
Real Estate partner and chair of the firms Resort, Restaurant & Recreation Practice Group,
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