Grand Cypress Resort Reportedly for Sale

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(ORLANDO, FL) -- One day after the LPGA Tour concluded its season-ending CME Group Titleholders event at Grand Cypress Resort, news surfaced that Grand Cypress owners are considering a sale of the highly acclaimed 45-hole resort.

Perennially ranked as one of the top golf resorts in the country, Grand Cypress features 45 holes of Jack Nicklaus-designed golf, Four Diamond AAA-rated villa units, luxurious 28,800-square-foot clubhouse, world-class golf academy facilities and many more recreational amenities.

If the owners are successful in selling the 1,500-acre property, first reported in the Orlando Sentinel, expect some residential development around the North, South, East, and New Courses.

Grand Cypress opened in 1984 and is owned by a limited partnership that includes Gregory Dickhens, Ernest Nishizaki and Michael Iwuc.

"As the forecast for economic recovery improves we believe there is tremendous opportunity for long-term development on the 175 acres of undeveloped resort property," Iwuc said in a written statement, according to the Orlando Sentinel. "We're simply exploring the possibility that there are interested buyers or investors."

The deal could involve building homes on one of the nine-hole courses or converting the Villas of Grand Cypress to luxury residential units.

The Hyatt Regency Grand Cypress Hotel is not part of the package. While no sales price was available, the Sentinel noted the last time the property was sold 20 years ago it was reportedly worth $300 million.

The property, reportedly being marketed by Holliday, Fenoglio and Fowler LP, has government approvals for future development of 1,379 residential units that could be hotel-type lodging or conventional residential, 100,000 square feet of commercial space, and 775 hotel rooms.

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New JW Marriott Hotel to Open in Bahrain

(BAHRAIN) -- Marriott International's luxury hotel brand, JW Marriott, recently announced a new JW Marriott Manama, Bahrain Hotel, in the Kingdom of Bahrain. The Marriott property, a management agreement with owner Khaleejcapita B.S.C., is scheduled to open in 2016.

The hotel will have 274 rooms and suites and 102 residences in Bahrain Bay, adjacent to Bahrain Financial Harbour and opposite the diplomatic quarter.

The 50-story hotel tower is part of Bahrain Bay, a $2.5 billion development master planned by Skidmore, Owings and Merrill. The project is designed by renowned architect Yousif Daoud Al Sayegh and Associates who designed the Six Senses Hideaway Zighy Bay, Oman (Winner of the Abu Dhabi Urban Planning Council's first Estidama Sustainability Award 2008.)

"The JW Marriott Bahrain will be a spectacular addition to the Bahrain Bay development," said Abdul-Aziz Al-Rabban chairman of Khaleejcapita B.S.C. "Bahrain has an under supply of luxury five-star hotels and we are confident that the project will be a great success."

He also explained this project represents the first entry for the group in the hospitality field and that there are many other hotel and resort projects in the pipeline for Bahrain and Qatar. Managing Director Dr. Fadhel Al-arrayed explained that the development has a prime business location and will also cater to the thriving fine dining market in Bahrain with five luxury restaurants. He also added that the hotel will have a luxury spa and sport and leisure facilities.

The hotel will have an executive lounge with ocean view; one casual and five specialty restaurants; four lounges, including a lobby lounge and bar, a pool bar, quiet bar and rooftop lounge/bar; and 17,119 square feet of meeting space.  Recreational facilities will include a health and leisure club and spa, indoor and outdoor pool, tennis and squash courts.

"Our currently open hotels in Bahrain, the Marriott Executive Apartments and The Ritz-Carlton, have been tremendously successful, and we believe that this JW Marriott Manama is ideally located for a luxury hotel in Bahrain's commercial and financial center," said Ed Fuller, president and managing director of International Lodging for Marriott International.  "Our JW Marriott brand is reserved for select luxury hotels in key gateway cities around the world, and Bahrain is certainly one of these."

The JW Marriott Manama Bahrain Hotel will be the first JW Marriott property in Bahrain and the fifth JW Marriott hotel in the Middle East/Africa region. Marriott International will also open a 78-unit Residence Inn by Marriott in 2012 and the 318-room Renaissance Bahrain Amwaj Island Hotel in 2013.

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