Categorized | Featured, National News

Gov’t Injects Millions in Baha Mar


The Bahama Journal has been informed that the Bahamian government intends to inject tens of millions of dollars in the Baha Mar project to assist the developer with the resort’s completion.

In the most recent memorandum to senior executives of Baha Mar, CEO Sarkis Izmirlian was unable to provide a confirmed opening date for the multi-billion dollar Cable Beach resort.

In the memorandum, sent via email, Izmirlian said no progress has been made in his efforts to get the resort open.

Izmirlian has been involved in protracted negotiations with China Construction, with the view of getting the necessary funding to open the resort.

It is understood that Baha Mar needs some $300 million to complete the project.

Meantime, there were a number of resignations by senior Baha Mar personnel and executives who were hired by the operators of the four hotels that comprise the Baha Mar campus, namely the Grand Hyatt, Rosewood, SLS Lux and Meliá.

In addition, there have been cancellations of reservations into 2017 and some of the executives said their professional reputation have been compromised because of Baha Mar’s failure to open the property.

Recently, Prime Minister Perry Christie assured Bahamians that the government is working on a resolution for Baha Mar and it will be realized sooner, rather than later.

Christie announced that a resolution is on the way for the resort and he met with Izmirlian last week to discuss plans to complete the project with the government’s assistance.

The opening of the $3.5 billion resort has been postponed three times.

Baha Mar was set to open in December 2014, then in March 2015 and then during the first week in May.

Since there is no confirmed date for the resort’s opening, last month Baha Mar launched its official partnership with Urban Renewal, which provided 150 workers to assist the organization, as the resort seeks to give back to the community.

“This is really a volunteer programme within the company that’s a part of our conservation and humanitarian efforts to give back to our community,” Baha Mar Director of Public Relations Turnquest told The Bahama Journal.

Some workers, who are currently employed at Baha Mar, were involved in community work since April and over 1,800 hours of community service have been logged.

Since the programme began, workers provided community service at organizations such as the Salvation Army and the Seahorse Institute.

Written by Jones Bahamas

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