News

Launch of Aristo’s Newest Project

Published

11 years ago

October 21, 2015

The Bahamas, 19 Oct 2015 – They came. They saw. They bought. It was a glitzy, glamorous residential real estate investment launch that met with such positive response it even took developers by surprise.

The launch, held poolside at Graycliff with flowing champagne, soft music and a night lit with a million stars, was designed to introduce the public to the first video views of Aristo Development’s latest foray into the luxury condominium market, THIRTY|SIX, a 38-unit ultra-chic complex on Bayview Drive, Paradise Island. Thirty percent of the residences were sold prior to the invitation-only event.

“We were overwhelmed by the positive response,” said Aristo President Jason Kinsale. “By the time the evening ended, we had even more reservations on units and by the next day, we were 50% sold-out with construction not due to start for another several months.”

John Christie, whose real estate firm HG Christie has the exclusive on the Paradise Island project, said both the turn-out and the results pleased but did not surprise him.

“Paradise Island is one of those rare gems that continues to shine regardless of temporary shifts in the global economy because for those who can afford it, there is no place quite like it,” said Christie. HG Christie broker Ryan Knowles agrees. “Where else can you go where you have instant access to all the amenities of a world-class resort like Atlantis two minutes from your doorstep yet retain all the privileges and privacy of your own luxury residence with 24-hour concierge service?” he asks.

According to Aristo Sales & Marketing Director Matthew Marco, the appeal of Paradise Island accounts in part for the success, but a large part is a reflection of Aristo’s reputation and a distinctive sense of style.
“This is Aristo’s fourth project and its first on Paradise Island,” said Marco. “So whether people are buying for their own residence or for investment, they can look at the track record and see that Aristo does not just promise, it is a developer that delivers.” Marco points to The Balmoral, a sprawling, well-landscaped and thought-out townhome and single-family residential community in Nassau that is completely sold out with the exception of two homes that are just being completed. “Last week there were three left, now there are two. Next time we speak in a few days there may be none,” he told the writer. “We had so much interest for townhomes at The Balmoral that we recently acquired 12 additional acres adjoining the development and are thrilled to announce a new and final phase with luxury townhomes starting in the $400’s.” Aristo’s first project, Hampton Ridge, was also a 100% sell-out with condos delivered on schedule.

And ONE Cable Beach, currently under construction is 45% sold at a point when underground and site work have just been completed and the bones of the building with its organic, flowing lines are hardly out of the ground. “The style of that building has just wowed the public,” said Marco. “There’s nothing like it anywhere in The Bahamas and I doubt anywhere in the region.”

THIRTY|SIX is the first project that has teamed Aristo with the equally successful Sterling Financial Group, an integrated private equity, real estate investment and development firm based in Nassau. Sterling’s Chairman and Paradise Island resident, David Kosoy, has said that the market is “hungry for an offering with the sophisticated style and quality construction of THIRTY|SIX.”

“Am I surprised at the early sales reports of 50% sold with start of construction a few months away? Not at all. I looked at the plans, the location, the amenities and I just knew this was a winner which is why I chose to become an equity partner,” said the man who with others has developed more than $2 billion worth of real estate in the North American market.

Of the 38 condominiums in the block-long striking, contemporary building that will feature walls of glass, extensive landscaping draping from roof to ground floor, fitness centre, elevators and underground parking as well as 24-hour concierge service, only two-bedroom units ranging from $675,000 to $1.3 million remain available. All the studio and one-bedroom units sold and nearly all the two-bedroom corner units have been reserved.

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Caribbean News

Royal Caribbean Group and Sandals Resorts Announce Landmark Partnership to Accelerate Their Leading Vacation Experiences

Published

2 days ago

September 24, 2026

Deandrea Hamilton

Royal Caribbean Group Investment to Advance Sandals and Beaches’ Growth and Broaden the Group’s Vacation Portfolio

Montego Bay, Jamaica and Miami, September 24, 2026 – Royal Caribbean Group (NYSE: RCL) and Sandals Resorts today announced the signing of an agreement to form a partnership in the all-inclusive resort space with a 50% investment from Royal Caribbean Group. Building on Sandals and Beaches Resorts’ more than four decades of leadership in Caribbean hospitality, the joint venture will create new opportunities for continued resort growth while broadening the experiences across Royal Caribbean Group’s vacation platform.

The partnership brings together two of the travel industry’s most celebrated vacation companies, pairing Sandals and Beaches’ all-inclusive resort expertise with Royal Caribbean Group’s vacation platform, including industry-leading brands – Royal Caribbean, Celebrity Cruises and Silversea – a portfolio of private destinations, new river cruising offering, and an industry-first loyalty program. United in a shared history in the Caribbean and connected by a love for their communities, the companies will offer travelers an unparalleled collection of cruise, private destination and resort experiences, serving guests across more vacation occasions and establishing their undisputed leadership in Caribbean vacations.

The joint venture expands Royal Caribbean Group into an adjacent vacation category, growing its participation in the approximately $2 trillion global vacation market, and meets the growing global demand for Sandals and Beaches Resorts by accelerating their expansion. The partnership will include Sandals and Beaches’ collection of premier all-inclusive properties across the Caribbean, and the companies will explore opportunities to broaden distribution, deepen guest engagement, and make it easier for travelers to discover vacation experiences offered across both portfolios.

“For nearly 60 years, we’ve reimagined what a vacation can be, constantly expanding the ways we inspire our guests to explore, connect and create lifelong memories,” said Jason Liberty, Chairman and CEO, Royal Caribbean Group. “We have been building a vacation platform that brings joy to millions of people around the world and creates meaningful relationships that last with our guests. Our partnership with Sandals and Beaches Resorts is an important next step on that journey – bringing together two iconic leading vacation companies to further strengthen and grow one of the most admired resort portfolios in the world. The Stewart family has created powerful and beloved brands, and we are honored to build on that legacy. Together, we see tremendous opportunity to expand the reach of Sandals and Beaches Resorts and continue turning the vacation of a lifetime into a lifetime of vacations.”

“My father, Gordon ‘Butch’ Stewart, founded Sandals Resorts with the belief that a company built in the Caribbean could stand on the world stage alongside the most respected names in hospitality. Today is proof of how far that vision can go,” said Adam Stewart, Executive Chairman of Sandals Resorts and Beaches Resorts. “This partnership is the natural next step in building on that conviction. It gives us the ability to grow faster with a partner that shares our values of exceptional hospitality, long-term investment, and the power of enduring brands. Together, we will introduce more guests to Sandals and Beaches Resorts while creating even more extraordinary experiences for those who have made our resorts part of their lives for decades.” Stewart added, “As we continue to grow, we will remain true to what has always defined us: delivering authentic vacations that exceed expectations while creating opportunities for our team members, travel advisor partners and the communities we call home. The future has never been brighter, and I know this moment would make my father incredibly proud.”

The joint venture will be governed by a board under the shared leadership of Stewart and Liberty. Stewart will maintain a leadership role in guiding the company’s long-term strategic growth as Executive Chairman of Sandals and Beaches Resorts. Existing reservations, loyalty programs, resort operations and cruise operations will continue as usual, with the partnership bringing additional resources to support future opportunities.

Under the terms of the agreement, Royal Caribbean Group will acquire a 50% equity interest in Sandals and Beaches Resorts for approximately $3 billion, representing a forward EBITDA multiple of approximately 10x. Royal Caribbean Group has secured committed debt financing from Morgan Stanley to fund the investment. The transaction is expected to close in early 2027, subject to customary approvals and closing conditions, and is expected to be accretive to earnings next year.

BofA Securities and PJT Partners acted as financial advisors, and Latham & Watkins and Jones Day acted as legal advisors to the Sandals Group. Perella Weinberg Partners and Morgan Stanley acted as financial advisors and Kirkland & Ellis LLP acted as legal advisor to Royal Caribbean Group.

PHOTO CAPTION: Jason Liberty, Chairman and CEO of Royal Caribbean Group, and Adam Stewart, Executive Chairman of Sandals Resorts, mark the signing of an agreement to form a landmark partnership that expands Royal Caribbean Group into the all-inclusive resort space and supports the future growth of Sandals and Beaches Resorts. The signing took place at Royal Caribbean Group’s new headquarters in Miami, with the city’s skyline in the background.

Caribbean News

Royal Caribbean Signs US$3-Billion Deal for Half of Sandals and Beaches

Published

3 days ago

September 23, 2026

Deandrea Hamilton

The Caribbean tourism deal first reported as a possibility on Tuesday is now a signed agreement. Royal Caribbean Group plans to pay approximately US$3 billion for a 50% stake in Sandals and Beaches Resorts, putting the value of the business at about US$6 billion. The purchase is expected to close in early 2027, subject to approvals.

Founded in Jamaica by the late Gordon “Butch” Stewart in 1981, the resort business has a presence across nine Caribbean destinations, including Jamaica, The Bahamas and Turks and Caicos. Sandals has described its workforce as nearly 20,000 people, most of them Caribbean nationals.

“My father, Gordon ‘Butch’ Stewart, founded Sandals Resorts with the belief that a company built in the Caribbean could stand on the world stage alongside the most respected names in hospitality,” said Adam Stewart in the announcement carried by PR Newswire. He will remain executive chairman, while the Stewart family retains a stake. The companies say existing reservations and resort operations will continue as usual.

News

Indian Association of Turks and Caicos Islands Empowers Local Students Through Back-to-School Backpack & Supplies Drive

Published

3 days ago

September 23, 2026

Deandrea Hamilton

PROVIDENCIALE, TURKS AND CAICOS ISLANDS — The Indian Association of Turks and Caicos Islands (IATCI) is proud to announce the successful completion of its 2026 Back-to-School Supplies Initiative, distributing essential backpacks and educational materials to local students and families across the community.

With the new academic year underway, this annual drive was designed to alleviate the financial burden on families while equipping local youth with the necessary tools for academic success.

Education is an investment in a better generation and a brighter future. We are grateful to all our generous donors and supporters whose contributions helped make this initiative possible.

The initiative’s success was made possible through the collaboration and contributions of local corporate partners and community members. IATCI extends its sincere appreciation to the following sponsors for their support and commitment:

• Mayaa Ltd, Ayavue Enterprises, Provo Café, Sunny Foods, Gold Smith, Charlie’s, Kishco / Kostco, Citrusbuy Ltd.

Through partnerships like these, IATCI continues its commitment to fostering community growth, supporting educational development, and making a lasting positive impact across the Turks and Caicos Islands.

About the Indian Association of Turks and Caicos Islands (IATCI)

The Indian Association of Turks and Caicos Islands is a non-profit community organization dedicated to cultural enrichment, community service, and supporting educational and social initiatives throughout the islands.

Indian Association of Turks and Caicos Islands (IATCI)