GRACE BAY RESORTS ANNOUNCES THE RESIDENCES, THE FIRST LUXURY MICRO-RESORT IN THE TURKS AND CAICOS

Boutique Developer Redefines Villa Ownership with Sophisticated Beachfront Residences on Award-Winning Grace Bay Beach

Providenciales, Turks and Caicos – February 27, 2013 – Poised to become the most coveted address in Providenciales, Grace Bay Resorts introduces The Residences, the award-winning hospitality brand’s first-ever standalone residential villa enclave in Turks and Caicos.  Dubbed a “micro-resort,” The Residences offer all the handmade comforts of a private home with the management and luxury services of a five-star resort.  Paired with the hospitality group’s personal concierge service and unrivaled attention to detail, The Residences on Grace Bay Beach exemplify the luxury lifestyle experience in the Caribbean.

Comprised of three luxury homes currently under development, the micro-resort combines sophisticated, elegant design with the highest level of service and exclusive amenities.  Each of the custom-designed homes is located on a 95-foot-wide freehold parcel of private beachfront and offers over 6,000 square feet of indoor and outdoor space, four bedrooms, four and a half bathrooms, and 2,600 square feet of external area with private deck surrounding an infinity pool and outdoor shower. The two oversized master bedrooms provide oceanfront views, while the master bathrooms boasts free-standing tubs, glass showers and double vanities.  Expansive living and dining areas offer 14’ ceilings, solid wood kitchens with appliances from Sub-Zero and Wolf and the highest quality imported fixtures and finishings.

The Residences are designed by Coast Architects from the UK, known for its work with Amanyara, Parrot Cay and a multitude of super luxury residences in Turks and Caicos.

“Grace Bay Beach offers an unparalleled location for launching Grace Bay Resorts’ first freestanding residential concept. We continue to see significant interest in this type of property on Providenciales from our most sophisticated luxury customers, who are interested in buying residential property or renting for short term, high-end family vacations,” states Mark Durliat, Chief Executive Officer and Principal of Grace Bay Resorts. “Ownership of a single family home on Grace Bay Beach is a rare opportunity, particularly one managed by a proven resort developer and operator. We are confident in the potential of The Residences as this is a luxury offering not previously available in the marketplace.”

In addition to calling Grace Bay Beach home, owners are provided access to the resort property’s common areas and amenities, including an elegant owners’ library, a reception area where guests are able to check in and access on-site management and concierge staff, and a fully-equipped fitness center. In-villa services include spa treatments, in-room chefs, concierge services, housekeeping, maintenance and beach services, as well as preferential access to the award-winning Grace Bay Club, including signing privileges at all restaurants and bars. While not in residence, owners can opt to rent their home to high-end travelers seeking an ultra-luxury, private vacation experience.  Prices for The Residences start at $3.7 million, with Turks and Caicos Sotheby’s International Realty managing all sales efforts on behalf of Grace Bay Resorts. www.GBResidences.com

**Prices and availability are subject to change without notice.

 About Grace Bay Resorts

Grace Bay Resorts is a boutique developer and operator of high-end, luxury resorts and branded residences, founded from its flagship property Grace Bay Club in Turks and Caicos which opened in 1993. Led by Mark Durliat and Nikheel Advani, the developers and hoteliers behind this renowned resort, and Michael Brewster, Grace Bay Resorts provides development, branding and management for its brand and is expanding its award-winning services into other Caribbean destinations and Latin America, with a target of 10 properties in the next few years. For more information, please visit www.gracebayresorts.com.

About Turks & Caicos Sotheby’s International Realty

Led by President / Broker Joe Zahm, Turks & Caicos Sotheby’s International Realty is the leading real estate company in the Turks & Caicos Islands and enjoys a solid number one market share position. TCSIR has enjoyed great success with Mark Durliat and the Grace Bay Resorts brand and operates its flagship office on Grace Bay Road as well as an on – site office at the renowned Grace Bay Club. http://turksandcaicossir.com

About Coast Architects

Founded in 2007 by Simon Nicholls and Chris Davies, Coast is one of the leading architectural firms in the Turks & Caicos Islands. Specializing in high-end residential villas and resort projects, Coast works with clients and consultants from all over the world and provides comprehensive architectural services, design coordination, contract administration, landscape design and interior design including procurement and installation. www.coast.tc

Media Contact:

Courtney Marzahn

Susan Magrino Agency

212.957.3005 / courtney.marzahn@smapr.com