Stalled resort project in Turks and Caicos shows signs of life

03/18/2013 | HotelsMag.com (free registration)

An unidentified investment group has reportedly acquired Lehman Brothers' stake in an abandoned luxury resort project in Turks and Caicos and is planning to continue development. The Molasses Reef, a Ritz-Carlton Reserve, project originally called for 125 rooms and 30 condo units but was scrapped in 2008 because of the downturn.

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