The Ritz-Carlton Hotel Company, a wholly-owned subsidiary of Marriott International, has signed a deal with the regional government of Aruba to open an exclusive 320-bedroom oceanfront resort situated on the Caribbean island's Palm Beach.

The US$200m (£128m, €151m) resort is set to open in late 2012 and will offer a luxury spa, two swimming pools, a 24-hour casino and a range of restaurants.

Details of the spa are to be confirmed but the hotel will include Ritz Carlton's signature Club Level, a private floor accessible only by elevator key, offering light fare and dedicated concierge service throughout the day.

The agreement is part of the Aruban government's strategy to establish more upscale tourism resorts on the island's remaining beachfronts. Aruba is part of the Kingdom of Netherlands.

Prime minister Mike Eman said: "Due to a rapid expansion of hotels and condominiums over the last 20 years we are concerned that we are left with too few vacant public beach areas.

"The fact that we are looking at the addition of such a prestigious hotel as the Ritz Carlton reduces this pain for us.

"We hope to work closely with the group to achieve the vision of our new government that will put more emphasis on sustainability and durability in the development of our tourism industry for the people of Aruba and our visitors alike."

The hotel will be the seventh location in Marriott's Ritz-Carlton portfolio of Caribbean properties, joining existing hotels in St. Thomas (U.S. Virgin Islands), Jamaica, Grand Cayman, Puerto Rico, Mexico and The Bahamas.