OYSTER POND – Pearl Development N.V., developer of the Oyster Bay Beach Resort (OBBR) in St. Maarten, has purchased 11 of the 24 units in the neighboring Coral Beach Club, along with the reception office. The resort is regarded as one of the most popular and highest-rated villa and townhouse resorts available for hotel occupancy on this Caribbean island.
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.”
He said Coral Beach Club would 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 center. The six residences on the ocean front are three- or four-bedroom villas featuring spectacular panoramic 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 calming 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 remodeled 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.
Oyster Bay Beach Resort Developers Purchase Luxury Villas in Coral Beach Club
“The townhouses on the marina offer an endless parade of beautiful sailing vessels and power boats, as well as breathtaking views of nighttime lights on Oyster Pond and the surrounding hillside communities, while the ocean-front units have a spectacular view of the lovely Dawn Beach and crashing ocean beyond.”
Dolente added the guests can enjoy complete seclusion and impressive accommodations with complete privacy behind the resorts gates. He also said they intend to establish a premier vacation ownership program 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 program of financing for qualified individuals and trade-ins of Oyster Bay vacation intervals will make the program 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 program modeled after the famous, “Small Hotels of the World.”
“The Preferred Residences Collection is the top of the scale,” said Dolente. “There are only about 100 hotels and resorts that are part of this program and are among the finest in the world. We’re extremely confident that the beauty and serenity of the Coral Beach Resort will qualify Coral Beach Club for the Preferred Residence program as well as the very prestigious Elite designation.
Dolente added that approval from Interval International is pending.
Coral Beach Club, designed by the well-known European architect Jan Heim, opened in 2007. OBBR was originally constructed as the Oyster Pond Yacht Club in 1972. It was purchased by Pearl Development in 2003. The resort features 187 units dedicated to vacation ownership and hotel accommodations, as well as three separate, whole-ownership condominium developments. For information on OBBR, visit www.oysterbaybeachresort.com. For information on Coral Beach Club visit www.coralbeach-club.com.
Pearl Development recently acquired Duck International, Ltd., which owns 11 of the 24 remaining and unsold units at Coral Beach Club, a neighboring community on Dawn Beach. It will be operated as exclusive, upscale waterfront hotel and vacation residences on the water. 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.