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Oyster Bay Beach Resort (OBBR) recently named one of the highest-ranking Caribbean resort properties for value by Travel + Leisure readers, has undergone a transformation from seaside hotel and timeshare development to luxury resort community.
U.S.-based Pearl Development NV is a real estate success story. Investing in excess of $19,000,000 USD in the last three years to bring about the transformation, Pearl Development has created an inviting luxury resort community that attracts owners and vacationers from around the world. Since 2008, funds have been used to renovate much of the resort’s original space and to construct new facilities including a four-story, 40-unit, ocean front, timeshare pavilion and the iconic Lighthouse, an eight-story, 18-unit, whole ownership condominium building, with a roof top infinity pool and exercise facility.
On Sep 10, OBBR re-opened 54 luxury timeshare units that had been closed for renovation and refurbishment over the past three months. Pearl Development spent $800,000 refurbishing the units with new GE appliances, maple wood cabinetry, furniture, electronics, art, bedding and other soft goods.
“With the opening of our garden units,” said Ricardo Perez, the resort’s general manager, “85 percent of OBBR is either brand-new or renovated within the last three years.”
The next phase of renovations will begin in the spring of 2012 and entails renovating and refurbishing the ocean front units on the south side of the resort.
According to Perez, planning has already begun and Pearl Development hopes to begin placing orders for appliances and furniture by the end of the year.
Eight years ago when the St. Maarten registered company, Pearl Development NV, purchased OBBR, it was under construction and struggling with a large debt burden. Now less than a decade later, and after investing more than $19 million in just three years, the resort is one of the most attractive and popular attractions on St. Maarten.
In addition, OBBR has become one of the island’s iconic properties thanks to its location at the eastern edge of St. Maarten and its unique architecture, centered on a 30-foot-high, all-glass dome set atop the Lighthouse condominium building.
Perez points out that OBBR is known for its friendly style and hospitable employees. He said that most of the employees have been with the resort for many years and are very loyal and hard working, helping to give the resort the great reputation it enjoys today.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
