Even as Grace Bay Resorts unveiled its new Estate collection, capping a $250 million expansion and renovation program at Grace Bay Club on Providenciales in Turks and Caicos, the company was looking toward 2012, when it plans to debut its contemporary resort brand Caya, an Arawak Indian word meaning "chain of islands."
In fact, Grace Bay Resorts, an umbrella company that includes Grace Bay Club, the Grace Collection of independent, luxury properties and the Caya brand, aims to encompass 10 properties within five years, according to Mark Durliat, CEO and owner of Grace Bay Resorts.
"These will include newbuilds as well as existing properties, which we will fine tune and reposition with our specific service details," Durliat said. Possible locations include Argentina, Costa Rica, the Dominican Republic, Panama and St. Lucia, according to Durliat.
The 22 custom-designed residences in the Estate collection at Grace Bay Club are set on 11 acres of beachfront property adjacent to the resort, which offers the adults-only, 21-suite Hotel at Grace Bay Club and the family-friendly Villas at Grace Bay Club.
Estate owners can place their 4,500-square-foot units in the resort's rental pool. Each unit has four bedrooms and four baths, a library/media room, a wraparound terrace, outdoor shower or plunge pool and high-end kitchen appliances. Amenities include an oceanfront pool, cabanas and concierge services.
The Estate units are priced at a per-night rack rate of $4,000. "We are promoting the Estate as a resort within a resort," said Nikheel Advani, COO of Grace Bay Resorts. "Owners and guests have full use of Grace Bay Club's facilities and amenities, and special introductory rates are available.
"We talk to the travel community all the time; we are flexible and we help our industry partners and our guests with incentives and promotions," Advani said.
While the hotel, villas and the estates each have their own pool, restaurant and bars, Grace Bay Club also offers the Infiniti Edge Bar, the Anacaona and Grill Rouge restaurants and the 5,000-square-foot Anani Spa and Fitness Center, accessible to all guests and owners.
Last year, Grace Bay Resorts added the 168-room Verandah Resort & Residences in Providenciales to its management portfolio under its Grace Collection division.
"The new division will offer management services to independent, luxury resorts which want to retain their own name and identity while benefitting from our management, marketing and operational expertise," Durliat said.
The Verandah, set on 10 acres along Grace Bay Beach, is scheduled to open in October.
The first Caya resort, targeted at an affluent, younger market, will be 150 feet from the shore of Grace Bay Beach in six two-story buildings, each with two units per floor ranging from studios to penthouses.
Caya will have a luxury retail village, a spa, two restaurants, several pools, a rooftop bar, lounge, grill and a beach pavilion and will be designed to be "environmentally sensitive and priced to fill a growing void in the second-home marketplace," said Advani. All units will be available for purchase or for traditional resort use.
For more information, visit www.gracebayclub.com.