Hospitality Career E-Mag: NEWS | JW Marriott Luxury Brand Heads to the White Sand Beaches of Turks and Caicos

World-class luxury hotel brand, JW Marriott Hotels & Resorts, announced today during the Caribbean Hotel and Resort Investment Summit (CHRIS) its plans to open a new 380-room JW Marriott Hotel and Casino which will include 16 residential condos located on the island of Providenciales, Turks and Caicos. The property will be operated by Marriott International (NYSE: MAR) under a long-term agreement with DesarrollosHotelco Turks and Caicos Ltd., a group made up of prominent regional investors.

The nine-story hotel, scheduled to open in early 2016, will be built on a11-acre site and is located on the world-famous Grace Bay beach along the north coast of Providenciales, 15 minutes from the Providenciales International Airport. "We are thrilled to bring the JW Marriott brand of luxury to Turks and Caicos," said Walter Stipa, majority investor of Desarrollos Hotelco Turks and Caicos Ltd. "And with its prime location on stunning Grace Bay Beach, we know that it will be very successful."

Mr. Walter Stipa is also the majority shareholder of the 269-room JW Marriott Hotel Caracas, the 207-room Venezuela Marriott Hotel Playa Grande and the 212-room Renaissance La Castellana Caracas. Additionally, Mr. Stipa owns the 320-room Ritz-Carlton Aruba, which is currently under construction and expected to open at the end of 2013.

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