Another hotelier is getting into vacation home real estate. The next few years will be busy for Raffles Hotels & Resorts, which plans to open numerous resorts and residence developments, including a mix of whole-ownership homes, fractional residences and large-scale estates in locales spanning the globe from Thailand to the Caribbean.

While the real estate market in the U.S. settles into a steady downturn, a market characterized by wide price decreases and robust inventory, Raffles’ entry into the luxury second home market is just one more sign that big developers are counting on the continued buying power of the affluent. And with these projects still several years away from opening their doors, these developers are undoubtedly betting on the current real estate slowdown being a distant memory.

Set to open in 2010, Raffles St. Lucia, West Indies will spread over 360 lush acres of panoramic ocean views, dramatic cliffs and secluded beaches. The development will include 275 residential luxury villas, casitas, condominiums as well as 75 estate lots, including 35 Jack Nicklaus Golf Club estate lots. Buyers of those lots will get access and reciprocity at the other Jack Nicklaus Golf Clubs (there are some 25 around the world). In addition to a Jack Nicklaus Golf Club, Raffles St. Lucia will feature a 200-room resort, three beach clubs, dining options, fitness center, five pools and a 10,000-square-foot RafflesAmrita Spa.

On the largest of the British Virgin Islands, the Raffles Tortola development is set also set to open in 2010. Spread over 50 beachfront acres, the property will have a 100-room resort, as well as 250 villas, casitas, condominiums and estate lots. The resort will feature a half-mile-long white sand beach, two beach clubs, three swimming pools, four restaurants and bars, a fitness center, 60-foot-long beach pier, and a spa. And the resort company has even more ambitious plans for Asia, catering to that segment of the globe’s growing market of luxury consumers. In Asia, there are plans to launch Raffles residences in Thailand (2011), Bali (2010), Macao (2010), Philippines (2011), Vietnam (2010) and the Seychelles (2010).