Baccarat Hotels And Resorts Debuts in Anguilla to Operate The Baccarat Hotel and...

Baccarat Hotels And Resorts Debuts in Anguilla to Operate The Baccarat Hotel
and Residences at Temenos, Anguilla

NEW YORK, Jan. 7 /PRNewswire/ -- Flag Luxury Properties, a New York-based
developer of luxury resort and residential properties, today announced that it
has engaged Baccarat Hotels and Residences, a subsidiary of Starwood Capital
Group to operate its exclusive ultra-luxury hotel and residences on the island
of Anguilla, British West Indies. The property will be named The Baccarat
Hotel and Residences at Temenos, Anguilla and will be the first of its kind in
the Caribbean.
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The Baccarat Hotel and Residences at Temenos, Anguilla will include a
114-key ultra-luxury hotel and an 18,800-square-foot world-class spa and a
fitness center. Within the hotel there will be 50 oceanfront residences.
Guests and residents will enjoy personal exclusive services and signature
Baccarat aesthetics. The 286-acre resort also includes 18 estate homes, 10
villas, 38 Spa Villas along with a Greg Norman-designed championship golf
course -- Anguilla's first and only course.
The Temenos Golf Club, managed by Troon Golf opened in 2006 and has
quickly become well known for its breathtaking views of the Caribbean Sea and
nearby St. Maarten, along with its dramatic and challenging terrain and other
features. The full-service 28,000 square foot clubhouse features Zurra -- a
Mediterranean-influenced restaurant managed by famed restaurant operators,
authors and lifestyle experts Bob and Melinda Blanchard.
Baccarat brings to the resort its longstanding reputation as one of the
world's premier luxury brands -- one of a select few that define and shape
luxury. Barry Sternlicht, Chairman and CEO of Starwood Capital Group, is
widely recognized as one of the lodging industry's leaders in building great
brands, having led the creation of W Hotels and St. Regis brands and the
reinvention of Westin when he served as Chairman and CEO of Starwood Hotels &
Resorts. In addition to Baccarat Hotels, Starwood Capital is developing two
other international luxury brands, Crillon Hotels and 1 Hotels & Residences.
"We are very excited to announce our participation in this outstanding
resort which will quickly become one of the Caribbean's and the world's finest
resorts," said Mr. Sternlicht. "Nearly every amenity will be provided to our
guests which we will combine with a spirit of uncompromising service. Baccarat
is a 247 year old global brand. It is synonymous with perfection and beauty.
Each Baccarat product is a handmade work of art by craftsmen who dedicate
their lives to the creation of these masterpieces. We intend for each
Baccarat Hotel to be its own work of art. In Baccarat Hotels, we aspire to be
the perfect getaway experience combining memorable design executed in a
relaxed, comfortable and inviting atmosphere. The Baccarat Resort in Anguilla
is about the quality of light, a sublime elegance which can be appreciated in
bare feet."
"We have engaged Baccarat Hotels & Residences to help us take our project
to completion and ensure that our vision for this unique property is
completely fulfilled," said Paul C. Kanavos, Chairman and CEO of Flag Luxury.
"We have always intended Temenos Anguilla to be one of the world's finest and
most exclusive resorts -- based not only on having the very best facilities,
but also reflecting a superior level of service for our residents and guests
that is unsurpassed anywhere. We know that Barry Sternlicht shares our vision
and we look forward to working with him and his team to make it a reality."
About Flag Luxury Properties
Flag Luxury Properties, based in New York City, was founded in 1946 with a
commitment to owning and developing branded world class hotels, residential
properties and gaming assets. Through strategic partnerships, innovative
architectural execution, and unparalleled locations, Flag Luxury has become a
leader in its industry. Recent developments include The Ritz-Carlton South
Beach; The Ritz-Carlton Club & Spa, Jupiter and the Baccarat Hotel and
Residences at Temenos, Anguilla. Flag Luxury is affiliated with FX Real Estate
and Entertainment, Inc. (FXREE), a company chaired by Robert F.X. Sillerman
that was formed in 2007 to engage in the development and ownership of
entertainment-themed real estate projects. The latter company's holdings
include an 18-acre site to be master planned on the Las Vegas Strip and a
substantial ownership interest in Riviera Holdings Inc. For more information
on Flag Luxury, please visit: www.flagluxury.com.
About Starwood Capital Group
Starwood Capital Group Global, LLC is a privately-held global real estate
investment firm based in Greenwich, CT (with its predecessor Starwood
affiliates "Starwood"). Founded in 1991, Starwood specializes in the creation
and acquisition of real estate-related investments on behalf of commingled
investment vehicles that are sponsored and created by Starwood or its
affiliated entities. Such real estate-related investments include residential
and commercial land development, multifamily, hotel, office, retail,
mixed-use, industrial, health clubs, golf and mezzanine debt. Starwood's
clients include public and private retirement programs, university endowments,
foundations, international and high net worth investors. During the past
sixteen years Starwood and its affiliates have invested approximately $6
billion of equity capital in transactions representing over $30 billion of
asset value.
Starwood is currently building a new luxury hotel management company which
will manage its Crillon, Baccarat and 1 luxury hotel brands and expansion.
Starwood has announced the development of the Baccarat Wailea, located on the
island of Maui in Hawaii, as well as 1 Hotel projects in New York, Seattle,
Washington DC and Scottsdale.
Starwood has led the formation and/or growth of several market leading
companies including Groupe Taittinger and Societe du Louvre, Europe's second
largest hotel network; iStar Financial, the leading publicly traded finance
company specializing in commercial real estate mortgage, mezzanine and net
lease financing; Starwood Hotels & Resorts Worldwide, a leading global
owner/operator of hotels; Equity Residential Properties Trust, one of the
premier US multifamily REITs; and National Golf Properties/American Golf
Corporation, the largest owner/operator of golf courses and related facilities
in the U.S., who, together with its private sister company, owned, leased or
managed 255 golf courses.
SOURCE Flag Luxury Properties

Rick Matthews of Rubenstein Associates, Inc. for Flag Luxury, +1-212-843-8267,
rmatthews@rubenstein.com; Laura O'Hare of HL Group for Starwood Capital Group,
+1-212-529-5533, lohare@hlgrp.com; Mark Ricci, +1-917-351-8687,
mricci@hs-pr.com, or Keri Firstenberg, +1-917-351-8675,
kfirstenberg@hs-pr.com, both of Harrison & Shriftman for Temenos Anguilla
Resort and Residences