Top 'Caribbean Escape' Closes in Turks and Caicos

An exclusive resort in the Turks and Caicos Islands that catered to celebrities and offered personal butlers and a pillow menu has closed after less than two years of operation, The Associated Press reported. The owner of Nikki Beach Resort & Spa — Leeward Resort Ltd. — has been placed into receivership, General Manager Jonathan Steers said. The resort, which the Travel Channel rated No. 2 on its list of the "21 Hottest Caribbean Escapes" this year, is the latest one in the region to close amid the global economic crisis. Jamaica's Rose Hall Hotel, owned by the Spanish company Iberostar Hotels and Resorts, closed last month, and the luxury Four Seasons Resort Great Exuma in the Bahamas closed in May after master development owner EBR Holdings Ltd. of London failed to meet debt obligations. Read more.