"We wanted to bring world class financial and operationalexperience into this project and Istithmar Hotels was the obviouschoice," Amburaya managing director Sunny Bajaj says. "We expectthis to be just the start of a long and expandingrelationship."

Istithmar Hotels CEO Joe Sita was equally optimistic, statingthat the project "fits right into our portfolio of luxury hotelbrands in key markets around the world. For Istithmar Hotels, it isthe people with whom we work that make the difference, andAmburaya's team [checked] all the boxes for us." Sita continues,"We know this will be a successful project." Along with 15 luxuryvillas on the hotel grounds that will be available for purchase,the main resort complex will include the 70 hotel rooms along withW's signature lounge, restaurant, pool bar and spa.

W Hotels is a global lifestyle product with 21 propertieslocated in select international cities. Its parent company touts Was the fastest growing luxury hotel brand in the world, providinginnovative comfort, cultural and design elements in areas "fromfashion to music to art and everything in between." Sporting suchflags as Sheraton, St. Regis and Westin, Starwood Hotels &Resorts Worldwide Inc. operates 850 hotels in 95 countries, with145,000 employees. The publicly traded company is listed on the NewYork Stock Exchange under the HOT symbol.