Morgans Hotel Group Co. announced that it has entered into a hotel management and residential licensing agreement for a 310-room Mondrian-branded hotel, to be the lifestyle hotel destination in the 1,000 acre destination resort metropolis, Baha Mar Resort, in Nassau, The Bahamas. This hotel is expected to represent the fifth Mondrian hotel in the expansion of the Company's iconic brand.
Upon completion and opening of the hotel, MHG will operate Mondrian at Baha Mar pursuant to a 20-year management agreement. The hotel is scheduled to open in late 2014.
"We are excited to announce our involvement in the Baha Mar Resort and the further expansion of our Mondrian brand," said Michael Gross, Chief Executive Officer of Morgans Hotel Group. "The fact that we were hand-selected to operate the lifestyle hotel within the Baha Mar Resort speaks volumes to the future growth potential of our Company and our unique brands. We believe this deal will allow Morgans to strengthen its brand portfolio while generating attractive management and branding fee returns."
Mondrian at Baha Mar is expected to include 188 hotel keys, 122 Mondrian-branded residential keys, a spacious ocean view lobby, dedicated meeting and function space, multiple swimming pools and cabanas, fitness center and spa, several food and beverage outlets including two full service restaurants, lounge/club and pool offerings.
The Baha Mar Resort is being built on 1,000 acres featuring over a half mile of contiguous beachfront property at the heart of the revitalization of the famed "Bahamian Riviera" on New Providence Island. The destination resort will encompass six hotels along with an 18-hole Jack Nicklaus signature golf course; "Waterside Place", a themed retail and dining experience; over 180,000 square feet of convention, conference and meeting space; and the largest casino in the Caribbean.