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One&Only Hotels Will Debut in China

News Kerzner International Holdings Ltd., which is headquartered on Paradise Island, Bahamas, follows the majority of large hoteliers who start or already run their business in China. Kerzner will open a hotel in Sanya that will be the first accommodation of the company in China. For this purpose the hotelier has concluded an agreement with Greentown Hotel Management Co. and Hainan Gezhouba Industrial Co. Kerzner will both construct and manage One&Only hotel in Sanya.

The hotel is scheduled for opening in 2014. One&Only will be located on a large coastline plot of land of 16 hectare (40 acre). The 180-guestroom hotel will have all modern facilities and will be the only property by Kerzner in China.

The new hotel will be located in picturesque Tufu Bay that will make rest in this region truly unique and unforgettable one. One&Only hotel will be targeted at leisure tourists. The total sum of investment is not disclosed, but now Kerzner is not in its best financial position as the company has a debt of US$2.4 billion. This is the result of the global economic crisis that has caused negative result on the global tourism, causing problems with cash flow for Kerzner.

Kerzner is a private company from 2006. The firm is ruled by the Kerzner family and some private equity groups.


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