RIVIERA MAYA, Mexico -- Hyatt Hotels plans to develop an Andaz resort and residences in the Turks and Caicos.

The resort on Grace Bay will be the first Caribbean property for Hyatt's luxury lifestyle brand, which was launched in 2007.

The Andaz resort will have two buildings, one with a 59-room hotel and the other with 74 residences that are expected to have a high rate of participation in the rental program.

Hyatt unveiled its plans during a breakfast held at the Andaz Mayakoba resort as part of International Luxury Travel Market North America.

The Turks and Caicos resort will have for restaurants and bars, a wellness facility, a garden yoga studio and an indoor and outdoor spa.

All the rooms will have views of Grace Bay, which is widely recognized as one of the world's best beaches.

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