Princess Cruises has contracted Landquest to develop and operate a new private beach, called Princess Cays, on the southernmost tip of Eleuthera Island in the Bahamas. Landquest is a private investment firm based in Grand Rapids, Michigan, and holds the land under a 40-year lease agreement with the Bahamian government

Princess Cays will be used as an exclusive port of call on the line's seven-day Eastern Caribbean itineraries beginning this September, adding a call to the line's traditional three-port itinerary.

The development is estimated to cost $1.2 million and will include a pier for the ships' tenders, picnic facilities and landscaping indigenous to the area, according to a spokesperson for Princess Cruises.

Princess Cays will be located about 15 miles from the $60 million Cape Eleuthera Resort currently under development by Landquest, scheduled for completion in late 1992 or early 1993.

Princess passengers will also be invited to the resort for golf, tennis, deep sea fishing, scuba diving and shopping.

According to a spokesperson for Landquest, Princess Cruises will be paying a fee to that company for use of Princess Cays, while profits from passenger spending at the resort will be shared. However, a spokesperson for Princess said that the cruise line was not prepared to release any figures for fees it will pay Landquest.

The new seven-day cruise, offered in 1991 aboard the Regal Princess and the Crown Princess sailing roundtrip from Fort Lauderdale, will call at Nassau, San Juan, St. Thomas, and Princess Cays.

Princess Cays will also be added to the line's seven-day Western Caribbean sailings beginning in 1992. According to a spokesperson for Princess, the complete itinerary has not been finalized yet, which would lead to speculation that an existing port may be dropped in favor of the private beach.

Princess already calls at another exclusive beach, Mayreau, in the Grenadines, which is included on seven- and ten-day sailings from San Juan.

This winter season, the cruise line will have four of its ships in the Caribbean.

Landquest is controlled by the Richard DeVos family of Grand Rapids, also co-founders and co­-owners of the Amway Corporation.