by Brian Major
Last updated: 12:56 PM ET, Thu June 5, 2014
Luxury hotel operator SLS Hotels will replace Morgans Hotel Group as the operator of a 300-room hotel at the $3.5 billion Baha Mar resort in Nassau, Bahamas. SLS announced a 20-year management agreement with Baha Mar officials this week to operate the "luxury lifestyle hotel" which will include 107 residences.
Morgans had originally agreed to operate a 300-room Mondrian hotel at the Nassau mega-resort, scheduled to open in December. A Morgan's spokesperson said the company notified Baha Mar officials in March they would terminate the Mondrian management agreement effective April 25, 2014 due to the Baha Mar owners' failure to obtain a non-disruption agreement from its lender, as required by the management agreement.
Morgans officials had requested Baha Mar officials delay the hotel's opening date from December to April, according to Bahamas news reports.
SLS Hotels is a luxury resort company operated by sbe, a global hospitality company operated by Sam Nazarian, the company's chairman and CEO. "Sam Nazarian's ability to be ahead of market trends has differentiated his eclectic hotels, nightlife, restaurants and cutting-edge design and will bring a truly unique experience to Baha Mar guests," said Sarkis D. Izmirlian, Baha Mar's chairman and CEO in a statement. "The company's experience in creating, selling and managing luxury real estate properties will bring additional value to the SLS Residences at Baha Mar."
The Baha Mar development will also include a 200-room resort from Rosewood; a 700-room Grand Hyatt hotel and the Baha Mar Casino & Hotel, the resort's anchor property.
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