Ritz-Carlton is launching a new brand, Ritz-Carlton Reserve, to cater for those who prefer more unusual destinations. The first such resort within the brand will be Molasses Reef in the Turks & Caicos Islands, scheduled to open in 2008 with 125 suites, 60 villas starting from $2.6 million, two restaurants and a spa. Over 50% of Phase I has been sold and just 13 villas currently remain.
