Istithmar Hotels group is to enter into a strategic partnership with Thai developer Amburaya Resorts to develop a third luxury W Retreat and Residences development on Koh Samui, Thailand.

Under the joint venture, the two companies come together to finance and build the new property, which will feature 70 resort villas and W’s signature spa.

There will also be 15 villas available for purchase in the grounds of the retreat, which will open in late 2008.

Starwood Hotels & Resorts – parent company of W Hotels – has agreed to manage the hotel for Amburaya Resorts. W Koh Samui follows the W Maldives and W Vieques (Caribbean) properties.