Who Owns The Beach Tower?
The Beach Tower was formerly owned by Atlantis Resorts but was closed in 2021 and sold to Pharrell Williams. The artist plans to redevelop the property into his own hotel called Somewhere Else. Atlantis Resorts is owned by Brookfield Asset Management and the Bahamian government.
Parent Company
Atlantis Resorts
Acquired
2021
Status
Private
Headquarters
Paradise Island, Bahamas
Who Owns The Beach Tower?
- Parent Company: Atlantis Resorts
- Ownership Type: Formerly owned
- Acquisition Year: 2021
- Company Type: Privately Held
| Brand | Parent Company | Ownership Type |
|---|---|---|
| The Beach Tower | Atlantis Resorts | Formerly owned |
History of The Beach Tower
- Founded: 1998
- Founders: Sol Kerzner (Atlantis Resorts)
- Acquired by Atlantis Resorts: 2021
The Beach Tower was originally part of the Paradise Island Hotel and Casino complex that opened in 1968 under Resorts International ownership. When South African hotelier Sol Kerzner acquired the property in 1994, the tower was refurbished and incorporated into the newly rebranded Atlantis Paradise Island resort.
The Beach Tower operated as one of the accommodation options at Atlantis Paradise Island from the resort's grand opening in December 1998 until its closure in 2021. The tower provided more affordable accommodation options compared to the luxury Royal Towers, making it accessible to a broader range of visitors.
Throughout its operation under Atlantis Resorts, The Beach Tower underwent various renovations and updates to maintain its standards while providing value-oriented accommodations within the luxury resort complex. The tower served as an important component of Atlantis Paradise Island's diverse accommodation portfolio.
In 2021, Atlantis Resorts made the strategic decision to close The Beach Tower and sell the property to Pharrell Williams. This sale was part of a broader strategy to focus on the resort's luxury positioning while allowing for new development on Paradise Island outside the Atlantis complex.
About Atlantis Resorts
Who owns Atlantis Paradise Island in the Bahamas?
Atlantis Paradise Island in the Bahamas is owned by Brookfield Asset Management following a 2012 debt-for-equity restructuring with Kerzner International. The property is operated by Marriott International under a management agreement. Kerzner International no longer owns or operates the Bahamas property.
Who owns the Atlantis resorts in Dubai?
Atlantis The Palm and Atlantis The Royal in Dubai are owned and operated by Kerzner International, a private luxury hospitality company headquartered in Dubai. Kerzner International also owns Atlantis Sanya in China and the One&Only resort brand.
Is Atlantis publicly traded?
No. Neither Brookfield's Atlantis Paradise Island operation nor Kerzner International is separately publicly traded as an Atlantis entity. Brookfield Asset Management itself is publicly traded on the NYSE and TSX under BAM, but the Atlantis property is one asset within its broader portfolio.
When was Atlantis founded?
Atlantis Paradise Island in the Bahamas opened in 1994 under Sol Kerzner's development. The resort expanded through the 1990s and 2000s. Atlantis The Palm in Dubai opened in 2008, and Atlantis The Royal opened in 2023.
How many Atlantis resorts are there?
There are four Atlantis-branded resorts: Atlantis Paradise Island (Nassau, Bahamas), Atlantis The Palm (Dubai), Atlantis The Royal (Dubai), and Atlantis Sanya (Hainan, China).
What is Aquaventure?
Aquaventure is the water park brand operated at Atlantis properties, featuring water slides, a lazy river, wave pools, and other water attractions. Aquaventure operates at Atlantis Paradise Island in the Bahamas and at Atlantis The Palm in Dubai.
- Founded: 1994
- Headquarters: Paradise Island, Bahamas (Atlantis Paradise Island); Dubai, UAE (Kerzner International)
- Company Type: Privately Held
Where Is The Beach Tower Made / Based?
- Headquarters: Paradise Island, Bahamas
- Manufacturing / Operations: Bahamas, United States
Brands Owned by Atlantis Resorts
- Aquaventure Waterpark - 141-acre water park at Atlantis Paradise Island featuring high-speed slides, riv...
- Dolphin Cay - 14-acre marine habitat and conservation center at Atlantis Paradise Island offer...
- The Cove Atlantis - 600-suite luxury adults-only tower at Atlantis Paradise Island offering elevated...
- Harborside Resort at Atlantis - Villa-style accommodation complex at Atlantis Paradise Island featuring resident...
- The Royal Towers - Iconic hotel towers at Atlantis Paradise Island featuring luxury accommodations,...
The Beach Tower Ownership: Pros & Cons
Advantages
- +Prime location on Paradise Island with established infrastructure
- +Opportunity for creative redevelopment under new ownership
- +Separation from mass-market tourism focus of Atlantis Resorts
- +Potential for unique boutique hotel concept
- +Established tourism market and destination appeal
- +Access to Paradise Island's amenities and attractions
Considerations
- -No longer part of Atlantis Resorts' brand and marketing network
- -Loss of established hotel operations and management systems
- -Competition from other Paradise Island and Bahamas accommodations
- -Significant investment required for redevelopment and repositioning
- -Need to establish new brand identity and market position
- -Dependency on individual owner's vision and resources
Frequently Asked Questions About The Beach Tower
Competitors to The Beach Tower
These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.
| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Finns Bali Group | Indonesia | 2012 | Mass Market | Global | Male |
Competitive Analysis
Market Positioning: The Beach Tower competes with 1 brands in the same categories, ranging from mass market to luxury positioning.
Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.
Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
Jobs at Atlantis Resorts
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