 In 1991, Princess Cruises began developing their third ever Caribbean private resort named Princess Cays located on the southern tip of the island of Eleuthera in the Bahamas.The development was reported to cost $1.2 million and was unveiled in 1992, becoming an exclusive port of call for the cruise line's Western Caribbean itineraries.The private destination is also shared between sister brands, Carnival Cruise Line and Holland America Line.