Atlantis President and Executive Managing Director Howard Karawan said he believes his hotel can coexist with the multibillion dollar Baha Mar Resort, but advised of the potential dangers of the Cable Beach resort stealing the market share.
This with the impending official opening of the multibillion dollar Baha Mar mega resort being on the horizon, there has been talk of how the resort would co-exist.
“If Baha Mar follows in our footsteps and opens new facilities that can grow the market and we not steal from each other. Absolutely we can coexist,” Mr. Karawan said.
“This requires a lot of effort. It took us years to do it and it didn’t happen overnight, so that needs to be done immediately and we need to start seeing some marketing that shows the expansion of the market not just price cutting versus your competition that just steals market share.
“I heard they plan to bring in a lot of visitors from Asia and China. I think that’s great if we can do things to expand the market and they can do some as well that’s wonderful.
“It’s important for this tourism economy to grow and for everyone one to grow and maintain the rates that we have established over the year.”
Last year, former Baha Mar Director and Tourism Minister Dionisio D’Aguilar said Atlantis’ “commercial viability” could be undermined if the Baha Mar agreement paves the way for China to dominate the Bahamian hotel industry.
In March Baha Mar President Graeme Davis said meeting with the Atlantis executives the two resorts established that it is important to grow the market, adding they were encouraged to work closely with the competition to make sure they grow the market together.
Originally, Baha Mar was to have five hotels, with the anchor property being the Baha Mar Casino Hotel. Now, Grand Hyatt is branding the anchor property in addition to the original space allotted for the Grand Hyatt, creating a 1,800-room hotel.
Once fully operational, Baha Mar anticipates directly employing more than 7,500 Bahamians, while contributing more than $65 million in direct taxation to the Bahamas annually and over $100 million in combined direct, indirect and induced tax revenues.
The SLS’s fall opening is expected to be followed by a 200-room Rosewood property in Spring 2018, when the full opening is set to occur.
Mr. Karawan’s comments came while he led the prime minister and a delegation of Free National Movement cabinet ministers and parliamentarians on a tour to evaluate the $20 million renovation project of the Coral Towers, which is expected to transform the family-friendly, relaxed atmosphere of into a sleek and modern social hub for the resort.
