ELEUTHERA, BAHAMAS (May 8, 2006) ﾖ Eleuthera has been selected as the first location for Global Hyatt Corporationﾴs Park Hyatt brand in the Caribbean and the Bahamas. The island – dubbed ﾓthe other Bahamasﾒ for its unbridled beauty, world-famous pink sand beaches, and remoteness 240 miles southeast of Miami – will embark on a development plan by EIC Resorts, which just signed a letter of intent with Global Hyatt Corporation to operate the luxury boutique hotel and resort amenities. ﾠEICﾴs development project capitalizes on the Bahamasﾴ new residential and longtime tourism wave with French Leave Resort, featuring the Park Hyatt hotel, and Savannah Hill, an upscale residential community. In total, the development project will stretch a combined 356 acres. The two properties are formed by EICﾴs strategic acquisition of contiguous land adjacent to the resort on Eleuthera for development of additional resort residences, a marina village and restaurants. EIC retained distinguished architects, Bernardo Fort-Brescia of world-renowned Arquitectonica, and Cesar Molina to lead the designs of the property.
Seasoned hotelier Paul D. Thompson, the former Managing Director of the exclusive Lyford Cay Club in Nassau for the last 24 years, has been selected by EIC to oversee all resort operations. Thompson brings a wealth of related experience and an intimate understanding of the service level required and expectations for a five star resort. His standards of excellence previously awarded him the Cacique Award for “Hotelier of the Year” in 2004 from the Bahamas Hotel Association and Ministry of Tourism.
An Exclusive Resort Community
Real estate is no exception to the travel industryﾴs tagline ﾓItﾴs Better in the Bahamas.ﾒ Boasting characteristics such as tax neutrality, steady currency, and political stability, the Bahamas provides the opportunity to purchase a piece of paradise in one of the fastest growing markets for second-home buyers. French Leave offers pre-construction single-family oceanfront home sites and villas, and boutique luxury Park Hyatt condominium hotel residences with a pool area, two restaurants and full-service spa. This will mark the first Caribbean location for the Park Hyatt brand, known worldwide amongst discerning travelers for its distinctive services and international flair. The more exclusive purchase opportunity is at Savannah Hill, with up to 10 estate lots, cottages and invitation-only memberships. Privately owned since 1950, Savannah Hill has rarely been seen even by the locals, and is one of the most scenic locations in all the Bahamas. In addition, new marinas will service luxury yachts and sport fishing boats at both Governorﾴs Harbour on the Caribbean Sea and at Savannah Hill on the Atlantic side of the island. Both will provide members with privileges throughout French Leave Resort.
In addition to being a tax haven for many, the Bahamian currency is equivalent to the U.S. Dollar, and recognized for its steady performance and solid value. Investors can put their U.S. dollars ﾓinﾒ and receive U.S. dollars ﾓoutﾒ by approval of the Central Bank of the Bahamas. Politically sound as it is economically, the Bahamian government has followed a democratic tradition for over 275 years, the third longest in the Western hemisphere. Furthermore, while active hurricane seasons in recent years have raised concern among potential investors, Eleuthera offers much promise. Blessed with magnificent reefs protecting its shores and great elevations, it is a destination least susceptible to tropical storms and hurricanes in comparison to all of the Caribbean and Southeast U.S.
Old Bahamas is New Again
Eleuthera is natural and not at all contrived, with citizens steadfastly preserving the islandﾴs authenticity and history. Where rows of pineapple fields exist instead of slot machines, star watching doesnﾴt refer to celebrities, and beach access isnﾴt in need of a room key. Eleuthera offers travelers a true old-Bahamas experience.
Crystal-clear turquoise waves, powdery pink sand, starry nights and butterfly flurries set the islandﾴs magical tone. Eleuthera, most simply, is an escape with physical attributes rivaled only by its rich history and central location that allows access to cosmopolitan draws like Harbour Island. First discovered in 1647 by a small band of English pilgrims that set sail from Bermuda in search of religious freedom, Eleuthera, the Greek word for freedom, is appropriately named both literally and figuratively in that it lends itself to a host of pastimes. Thereﾴs hidden caves and tucked away coves, along with scenic Governorﾴs Harbour, Eleutheraﾴs capital and the oldest settlement in the Bahamas.
The Development Team
EIC Resorts is a collaboration of Pennsylvania-based developers Eddie Lauth, Bob Poole and Mike Lanigan, all of who bring impressive resumes to this brilliant venture. Lauth hails from a background in real estate as well as the bottled water business. His water company, AquaPenn, became the fastest growing in the U.S. with plants in California, Florida and Pennsylvania. Bob Poole is one of the largest residential developers in Pennsylvania and is currently developing the $135 million Penn State University Retirement Village; while Mike Lanigan of Mi-Jack Products is a leading provider of construction equipment, material handling and intermodal services worldwide.
Charles Stronach is the Development Director of the French Leave Resort and Marina Village. Stronach is responsible for all the construction of the new resort and has extensive experience in the construction industry and development business throughout the Caribbean and the Bahamas. Stronach joined the company in 2005.
For more information, visit www.frenchleaveresort.com.
