"Fairmont continues to be committed to global growth, and we are excited to expand our presence in the Caribbean with not only this hotel, but also residential offerings," said Chris Cahill, the company's president and COO. Fairmont Raffles Hotels International has more than 85 properties worldwide.
The development team for Roco Ki includes Macao Beach Resort Inc., Geostar Inc., Richard Knorr International Ltd. and Michael Saunders International. The project was financed in 2006 for $85 million.
Roco Ki will include beachfront residences, a 300-unit Westin resort and an aquatic sports center, with residences running from $475,000 to $2.7 million. The property will also include a Nick Faldo-designed golf course, and future phases will include a marina, additional hotels, shopping areas, a botanical garden and a museum for local artifacts. Phase One of the project will debut this fall, according to a statement. The phrase Roco Ki means "honoring the land" in the native language of the Taino Indians.
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