FORMER WYNDHAM RESORT, SPA & CASINO ON ISLAND OF ARUBA SELLS FOR $230 MILLION

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Prime Sites USA has just closed the sale of the Aruba Resort, Spa & Casino, formerly known as the Wyndham Resort (www.ArubaResortSpa.com), a 478-key luxury resort in an off-market transaction valued a
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May 12, 2006 (Press Release) -- PRIME SITES USA DIRECTS
SALE OF FORMER WYNDHAM RESORT, SPA & CASINO ON ISLAND OF ARUBA IN $230 MILLION TRANSACTION TO BELFONTI CAPITAL PARTNERS
New York, NY (May 8, 2006) – Prime Sites USA (www.PrimeSitesUSA.com) a Real Estate Corporation, headquartered in Clearwater, Florida, announced today that its Director of Casino and Hotel Development, Alan Singleton (AlanASingleton@aol.com), oversaw the sale and acquisition of the Aruba Resort, Spa & Casino, formerly known as the Wyndham Resort (www.ArubaResortSpa.com), a 478-key luxury resort located in Palm Beach, Aruba in an off-market transaction valued at $230 million. Acquisition and renovation financing was provided by Wachovia Bank. The hotel will be converted into a Starwood Westin Resort.
The Aruba Resort, Spa & Casino is the largest hotel in Aruba and boasts the island’s largest convention and banquet spaces. The hotel also boasts the world-famous 12,000 square-foot Casablanca Casino, one of the Caribbean’s premier gaming destinations.
One of only four hotels in Aruba to boast the prestigious AAA Four Diamond rating, the Aruba Resort, Spa & Casino was recognized for excellence in the 2005 Conde Nast Traveler Gold List, which catalogues the premier resort properties around the globe based on quality of accommodations, services and amenities. The Resort is located at J.E Irausquin Boulevard 77 in the Palm Beach area north of Oranjestad, one of Aruba’s most popular resort destinations, just five miles from Queen Beatrix International Airport and approximately three miles from the charming shops and carnival nightlife of historic Oranjestad.

The seller Aruba Hotel Enterprises, NV was represented by Prime Sites USA of Clearwater, Florida in the sale of the property. Carlton Advisory Services, Inc. and Credit Suisse First Boston’s Hospitality Group acted as financial advisors to the Buyers in this transaction. The new owners plan a capital improvement campaign to further enhance the property’s already stellar reputation, and will subsequently announce a re-flagging of the property.
Hospitality Brokerage, Prime Sites USA, LLC (www.PrimeSitesUSA.com), which oversaw the sale and acquisition process, specializes in the sale and development of hospitality properties worldwide that include hotels, resorts, casinos, marinas and golf courses. The firm is presently active in the Caribbean, South America, Eastern Europe and is developing its own branded condo-hotel chain in Costa Rica.
Currently, Prime Sites USA has additional Buyers for the acquisition of hotels, resorts and casinos of the caliber of the Aruba Resort. Inquires should be directed to Alan Singleton at AlanASingleton@aol.com


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Prime Sites USA, LLC
28100 US Highway 19 No., Suite 502, Clearwater, FL 33761 Tel: (727) 771-9000 / Fax: (727) 499-7520
Publisher: Carl Carlsson




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