Luxury hotel group Ritz-Carlton is set to expand, adding a new "above luxury" brand called the Reserve.
First of the new hotels will be the Reserve Molasses Reef, in West Caicos in the British West Indies. It will feature about 30 branded villas as well as homes, townhouses and a marina and will be the first new resort to be built on the island in 100 years.
Bruce Himelstein, Ritz-Carlton's senior vice-president of sales and marketing, said: "This is going to be way above luxury and will have an average room rate of around $800 [£466]."
The group also announced the addition of 15 hotels to its Ritz-Carlton portfolio in the next four years, in Russia, Indonesia, the USA, Dubai, Canada, Japan and the Cayman Islands as well as four in China.
Himelstein added: "Our growth is methodical and strategic in capital cities. We want to be in the Chinese market and are also preparing for Chinese tourists to start travelling worldwide."