22 FEBRUARY 2017
OYSTER POND–Pearl Development, owner of Oyster Bay Beach Resort, has recently acquired Duck International, Ltd., which owns eleven of the twenty four remaining and unsold units of Coral Beach Club, a neighbouring property.
The new acquisition will be operated as exclusive, upscale waterfront hotel and vacation residences. Pearl will offer weekly and fractional vacation ownership opportunities to the public and to OBBR owners looking to trade-up to even more luxurious accommodations.
The acquisition, made for an undisclosed amount, was led by Pearl Development Executive VP and General Counsel Mike Dolente.
“While enjoying the resort feel, Coral Beach Club provides the highest in quality residences – right on Dawn Beach and Oyster Pond,” said Dolente. “The affiliation of the upscale resort will enhance the opportunities for our OBBR owners to trade-up to even more luxurious and more private vacation homes.”
Coral Beach Club will continue to be operated with little change in personnel or other operational considerations. Coral Beach Club will complement the services and facilities at OBBR but will maintain a separate and distinct community and identity for its owners and guests. However, OBBR will provide 24-hour management, augmented security and other services for Coral Beach Club owners and guests.
Of the units purchased, six are beach front, four face the marina and one is an apartment as well as an office and reception centre. The six residences on the ocean front are three- or four-bedroom villas featuring views of Dawn Beach and Oyster Pond Marina.
Each of these units also has a private pool, a travertine marble pool deck and short, private walkway to the beach. Four of the units are two-bedroom, water-side townhouses with views of the three marinas on the Oyster Pond. The townhouses also offer access to a semi-private central swimming pool overlooking the Oyster Pond.
Also included in the purchase is a spacious second-floor, two-bedroom apartment with ocean views and a walkway to the beach.
The reception building, also used by the other owners at the resort, will be remodelled in a modern, elegant and spacious style by professional designers and architects. Lush landscape and an improved entry way will help in creating an enhanced sense of arrival and a preview of the special hospitality offered at Coral Beach Club.
Pearl intends to establish a premier vacation ownership programme at the property to sell ownership interests to those families who want to enjoy the most luxurious and comfortable vacation experience. As in the past, special attention will be given to the guests and owners to maintain Coral Beach Club’s track record of meeting the highest standards of satisfaction on the island.
A special programme of financing for qualified individuals and trade-ins of Oyster Bay vacation intervals will make the programme very attractive to those owners, said Dolente.
OBBR is affiliated with Interval International, one of the world’s largest timeshare exchange companies. According to Dolente, their plan is to affiliate Coral Beach Club with Interval International, as well as with its “Preferred Residence Collection” – an exchange programme modelled after the famous, “Small Hotels of the World.”
Source: The Daily Herald, St. Maarten