JTRE Signs Operator Agreement with Kempinski Hoteliers for New Luxury Resort Project in The Turks and Caicos Islands
In June 2023, international real estate developer JTRE signed an agreement with Europe’s oldest hospitality brand to offer owners and guests a one-of-a-kind luxury beachfront experience.
From left to right: Rudolf Krizan, Member of the Board of Directors Best Hotel Properties, COO Bernold Schroeder, Chief Executive Officer and Chairman of the Management Board Kempinski Hotels, Xavier Destribats COO The Americas, Member of the Management Board Kempinski Hotels, Marek Baca, Chief Representative for the America JTRE Group, Peter Korbacka, Chairman of the Board of Directors, Founder of JTRE Group; Christophe Piffaretti, Chief Development Officer, Member of the Management Board of Kempinski Hotels
With projects throughout Central Europe including Slovakia, Czech Republic, United Kingdom and Germany, JTRE is now expanding to the Caribbean. Its next project will be in the Turks and Caicos Islands where it has acquired an undeveloped 11-acre stretch of Grace Bay Beach, consistently voted one of the best beaches in the world. It’s plan for this land is to create a luxury resort featuring 431 feet of white sand beachfront with 72 condominium residences, and four luxury beachfront villas. The resort will be operated by Kempinski Hotels, Europe’s oldest luxury hotel group.
The two companies signed an operating agreement in June, 2023 along with a built to scale model of the property.
From left to right: Bernold Schroeder, Chief Executive Officer and Chairman of the Management Board Kempinski Hotels, Peter Korbacka, Chairman of the Board of Directors, Founder of JTRE Group; Christophe Piffaretti, Chief Development Officer, Member of the Management Board of Kempinski
“We are thrilled to be chosen once again by these visionary developers for their upcoming venture in Turks and Caicos,” said Christophe Piffaretti, Chief Development Officer, Member of the Management Board of Kempinski.
The Kempinski Group operates 82 hotels and residences in 36 countries and currently has more than 26 prestigious projects under development around the globe. The portfolio comprises historic landmark properties, award-winning urban lifestyle hotels, outstanding resorts and prestigious residences. Kempinski is a founding member of the Global Hotel Alliance, the world’s largest alliance of independent hotel brands. “We are pleased to add this magnificent property in a world-class destination to our international portfolio of luxury hotels and vacation residences,” said Bernold Schroeder, Chief Executive Officer of Kempinski Group and Chairman of the Management Board of Kempinski AG. “Its location set directly on one of the most desirable beaches in the world offers our clients an unmatched experience to enjoy the beauty of this stunning seaside setting, embraced by the luxury and hospitality Kempinski is known for throughout the world.”
About J&T Real Estate (JTRE): JTRE, the developer of Kempinski Grace Bay, has operated in the real estate market for 26 years. The scope and quality of completed projects along with international experience has made JTRE a market leader in the field of real estate development in Central Europe, focusing particularly on Slovakia, Czech Republic, United Kingdom and Germany. JTRE is a private equity real estate investment, developer and asset management platform, managing assets of more than €2,3bn and estimated planned projects in the pipeline in central Europe, Asia, UK and Americas in total Gross Development Value (GDV) exceeding €9.6bn. Since 1996, the company has developed more than 1.08 million square meters of commercial properties. www.jtre.sk