The resort company Kerzner International Holdings Ltd. says it has signed an agreement to develop and manage a luxury resort in China.
The company said Wednesday that Chinese developers will work with the Plantation, Florida-based Kerzner to develop the One&Only Sanya resort overlooking the South China Sea in the southern island province of Hainan. Terms were not disclosed.
Last month, the Canadian investment firm Brookfield Asset Management Inc. canceled its agreement to acquire three of Kerzner’s resort properties.
The $175 million debt-for-equity swap had called for Brookfield to take over the Atlantis Resort in the Bahamas as well as One&Only Ocean Clubs on Paradise Island in the Bahamas and in Los Cabos, Mexico.
