By Gerrino J. Saunders
Journal Staff Writer
There is no doubt there has been tremendous frustration and
disappointment for successive administrations regarding the sale of
the Grand Lucayan Resort.
The Grand Lucayan is considered to be the anchor property for Grand
Bahama generating hundreds of direct jobs, and hundreds more
indirect jobs and opportunities for residents when operating at
optimum levels.
And now with the Ministry of Tourism reporting this week an 8.7
percent increase in tourist air arrivals to Grand Bahama in 2024, there
is great anticipation that a successfully revived Grand Lucayan would
add to that growth in 2025 and in years to come.
While speaking on the closing night of the recent Progressive Young
Liberals conclave on Grand Bahama Prime Minister Philip Davis
announced that the government is once again painstakingly close to
closing a deal with a prospective buyer.
He admitted that the agreement prevents him from sharing any
further details while the deal is in the final stages.
However, he did say the government is taking a “holistic approach” to
the sale of the resort which is basically married to the redevelopment
of Grand Bahama International Airport (GBIA) and has been a point
of contention in previous negotiations with potential buyers.

The GBIA that was basically destroyed during Hurricane Dorian in
2019 is set to undergo $200 million in renovations after the
government signed an agreement in 2023 with a consortium made up
of Aerodrome Limited, a Bahamian group, Manchester Airport Group
(MAG) Limited and BHM Construction International UK to carry out
the project. However, the project is currently on hold.
Speaking to a packed room The Prime Minister said, “I know you are
ready for the Grand Lucayan and the new airport to be signed, sealed
and delivered, and I am right there with you on both. This is big, and
getting it right is important,” he said.
Continuing, Mr. Davis said, “while our agreements preclude us from
making any announcements during this final stage of crossing T’s and
dotting I’s, what I can say is the developer is committed to embracing
the culture of Grand Bahama while creating a world-class brand that
enhances the tourism product of this island.
“The store owners and vendors in Port Lucaya Marketplace are key
stakeholders in this transformation. We’ve heard you; we’ve felt your
pain and your struggle to maintain your business. The development
(Grand Lucayan) plans include enhancing the opportunities of the
neighboring businesses,” said Mr. Davis.
Grand Bahamians and Bahamians across the archipelago are keeping
their fingers crossed in hopes that the government can close the deal,
after great disappointment in 2024 when the Prime Minister
announced that the government was in “intense” talks with a
prospective buyer for the resort and that the deal should be closed
within two to three weeks.

Unfortunately for many Grand Bahamians, including those that had to
leave the island in search of work after the hotel closed, that deal did
not materialize.
The Minnis administration purchased the Grand Bahama resort from
Hong Kong conglomerate Hutchison Whampoa in August 2018 for
$65 million, with the hopes of finding a suitable buyer.
In 2020, the Minnis administration announced that Holistica – a joint
company of Royal Caribbean and ITM – would redevelop the property
and construct a new cruise port.
After winning the September 2021 general election, the Davis
administration canceled the Grand Lucayan sale in December of that
year, saying the deal was not in the best interest of the Bahamian
people.
In May 2022, the Davis administration announced a deal to sell the
resort to Electra America Hospitality Ltd. (EAHL) for $100 million but
that deal collapsed.
The Official Opposition Free National Movement has been very critical
of the Davis Administration’s failure to get the deal done.
However, the Prime Minister has said repeatedly that the FNM is in no
position to be critical of his administrations challenges in selling off
the hotel when they are the ones that created the dilemma in the first
place.
While in Freeport on Saturday past the Prime Minister said while he
can understand the frustration of the people of Grand Bahama saying
it is taking too long to sell the hotel, but when members of the

Opposition “who made the bad decisions that led us here start
complaining – can you make that make sense? They made a big mess;
then complain – we ain’t cleaning up their mess fast enough.”