DALLAS — Braemar Hotels & Resorts Inc announced today that it had reopened its 180-room Ritz-Carlton St. Thomas hotel as planned on November 22nd.
The Property, which had been operating with minimal operations since being struck by Hurricane Irma in September 2017, underwent $106 million in renovations that were substantially funded by insurance proceeds.
“The renovation of the Ritz-Carlton St. Thomas has resulted in a spectacular resort product. We were also provided the opportunity to accelerate value-added capital projects that will not only drive incremental revenue but also improve the guest experience,” said Richard J. Stockton, Braemar’s President and Chief Executive Officer.
This renovation included guestrooms, guest bathrooms, public space, meeting space, ballroom, lobby, F&B outlets as well as several infrastructure projects.
Additionally, during the renovation, several new amenities were added including expanding the meeting space pre-function area, renovating the lobby and expanding the retail space, repositioning the hotel’s signature restaurant – Alloro, renovating the Kid’s Club, adding a centralized café and market, constructing a family pool with splash pad, and adding 11 luxury pool cabanas.
“The significant capital investment associated with the renovation has made the property undoubtedly one of the finest resorts in the Caribbean and we are very well positioned to capitalize on the renewed tourism demand that we are seeing in the US Virgin Islands,” continued Stockton. “With so much of the pre-hurricane hotel supply currently taken out of the market, we have seen very strong demand at the property with both forward bookings and rates up significantly from pre-hurricane levels.”
Design, procurement and project management services were provided by Premier Project Management.
Braemar Hotels & Resorts is a real estate investment trust (REIT) focused on investing in luxury hotels and resorts.
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