The management and development contract with the One&Only Sanya in China is injecting optimism into the local business community.
As Kerzner International continues its battle to restructure $2.5 billion in mortgage debt, the apparent expansion of the brand may provide much-needed stability for the company and help change the fortunes of Paradise Island.
Franklyn Wilson, the chairman of Arawak Homes, said the contract is a testament to the respect Kerzner International still commands on the global stage.
He felt the "internationalization" of the One&Only brand bodes well for the financial health of Kerzner.
"I have no doubt the One&Only brand is promising," he said. "As a matter of fact, I would say there is more opportunity in The Bahamas. There are two Sandals resorts here. So there is room for more than one One&Only."
Whether the brand will expand in The Bahamas remains to be seen.
However, top management at Kerzner have indicated that this recent signing is likely only the beginning of an aggressive expansion of the One&Only banner.
Markantonis told Guardian Business a number of opportunities may come to fruition later this year. Alan Leibman, the CEO of Kerzner International, hinted that this foray into China is the "perfect place" to grow the brand.
According to Winston Rolle, the chairman of the Bahamas Chamber of Commerce and Employers Confederation, the contract signing represents another stream of revenue and an opportunity for Bahamians to get involved with an internationally recognized entity.
He felt expanding the brand is part of Kerzner's "strategy" to remain solvent and represents renewed "stability".
"They have the resources and brand power for new locations," he said. "Kerzner was struggling to meet its debt obligations and this is certainly another revenue stream. The question is whether it will better their circumstances."
He called it a "bold move" to tap the growing Chinese market.
Kerzner International has entered into this agreement with Hainan Gezhouba Industrial Company Limited and Greentown Hotel Management Company Limited.
The luxury resort, expected to be completed by early 2014, includes 180 guests rooms and villas on 40 acres. The Tufu Bay location overlooks the South China Sea and features more than half a kilometer of beachfront.
Both Rolle and Markantonis said the opening of the Chinese counterpart should create opportunities for Bahamians to take part in the opening and development of the new property.
The One&Only spa at this location will feature ancient eastern traditions and holistic practices infused with modern techniques.
A project design team is currently in the process of reviewing plans which will be submitted to the local authorities for approval.
The length and exact terms of the management contract are unknown.

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