The hotel company will operate Banyan Tree illa Bahamas on the island of Bimini, which is a 20-minute seaplane ride from Miami. The property is due to open in November 2021.

The “eco-conscious” resort, which is being built on a 40-acre site on the Atlantic coast, will feature 50 rooms plus 54 private residences, including what are being hailed as the first Maldives-style overwater bungalows in the Caribbean.

The property’s suites will offer private terraces and plunge pools, while other facilities will include “pop-up” restaurants and the Banyan Tree Spa.

Peter Hechler, head of regional operations MENA at Banyan Tree Hotels & Resorts, said: “We are proud to bring our founding brand of Banyan Tree to the beautiful island of Bimini.

“As our first luxury resort in the Bahamas, Banyan Tree illa Bahamas will showcase the best of our brand’s ethos of creating a Sanctuary for the Senses, while deeply connecting with the environment and local culture.”

The signing comes as Singapore-based Banyan Tree has declared its “continued strategic intent” to expand into the Americas region.