Kerzner International said yesterday the Atlantis brand has been driving significant development in new markets such as Dubai and China, and was continuing to expand the brand globally.

A spokesperson for the company, confirming it would not be continuing as manager of Atlantis on Paradise Island once its contract with Brookfield Asset management expires in September, said: “We are extremely proud of our accomplishments in the Bahamas and establishing the Atlantis brand over the last 20 years.

“We are now expanding Atlantis internationally with the flagship Atlantis, The Palm, in Dubai and our new development Atlantis, Sanya in China. The Atlantis brand has been driving significant development interest in new markets and we look forward to continuing to expand it globally.”

The Kerzner spokesperson added: “Our commitment to the Bahamas continues with our long-term agreement to manage the One & Only Ocean Club following its acquisition by Access Industries.

“The One & Only brand is also growing, having just opened One&Only Hayman Island in the Great Barrier Reef in Australia, with an additional three One & Only properties in development.

“As we continue to grow the Atlantis and One & Only footprint across the globe, we remain fully committed to providing the ultimate holiday experience by staying focused on our number one core value, ‘blow away the customer’”.

Brookfield executives said earlier this week that they were looking to invest a “significant sum” in a five-year capital expenditure plan for the Paradise Island resort, having pronounced themselves “quite excited” to have completed the $1.9 billion refinancing.

Andrea Balkan, managing partner for Brookfield Real Estate Financial Partners, which holds Atlantis among its assets, said the company had also invested $200 million of its own funds as part of a refinancing that has left $1.75 billion in debt secured on the property and associated real estate.

Brookfield Asset Management, which owns and oversees $150 billion of assets worldwide, assumed control of Atlantis and the One & Only Ocean Club in a debt-for-equity swap. That involved Brookfield forgiving some $175 million worth of junior debt, leaving some $2.2-$2.3 billion still secured upon Paradise Island.

Access Industries, the company controlled and founded by its billionaire chairman, Ukrainian-born Len Blavatnik, confirmed last month that it had closed the One & Only Ocean Club’s purchase from Brookfield - a deal first revealed by Tribune Business in mid-March.