Royal Caribbean reaffirms commitment to Grand Bahama in wake of failed deal
NASSAU, BAHAMAS — Royal Caribbean said yesterday that it plans to participate in a new bid process for the purchase of the Grand Lucayan hotel, following the termination of an agreement for the sale of the resort and the redevelopment of the Freeport Harbour.
Royal Caribbean said yesterday in a statement: “Royal Caribbean remains committed to working with the government of The Bahamas and the people of Grand Bahama to support the government’s vision for the transformation of the tourism product and offerings in Grand Bahama.”
It added: “Upon learning of ITM’s withdrawal, Royal Caribbean immediately began searching for a new partner with experience as an established operator in the land-based hospitality industry.
Reigniting economic growth and development, including entrepreneurial opportunities in Grand Bahama, remains a key priority.
– Royal Caribbean
“We look forward to participating in the new public bid process for the purchase of the Grand Lucayan once a bid is issued by the government of The Bahamas.
“The transformation of the Grand Lucayan into a premier entertainment resort will complement our plans for the development of a world-class cruise port facility in Freeport to re-establish Grand Bahama as one of the world’s most popular cruise destinations.”
The company said it looks forward to providing regular updates on Grand Bahama, where it is also investing in the $450 million transformation of the Grand Bahama Shipyard, in which it holds a 40 percent stake.
“In addition to investing capital into the revitalization of Grand Bahama, Royal Caribbean is committed to leveraging its millions of customers, international marketing and vast travel partner distribution network to ensure the success of the destination,” the company said.
“Royal Caribbean maintains a strong relationship of more than 50 years with The Bahamas and reigniting economic growth and development, including entrepreneurial opportunities in Grand Bahama, remains a key priority.”
On Tuesday, Minister of Tourism, Investments and Aviation Chester Cooper said in a statement that the boards of Lucayan Renewal Holdings Limited and Lucayan Beach Casino Holdings Limited terminated by mutual consent the 2020 purchase agreement between themselves and Bahamas Ports Investments Limited (BPI), a joint-venture partnership between Royal Caribbean Cruise Lines (RCL) and Mexico’s ITM Group.
The termination of the agreement canceled the agreement between the government of The Bahamas and RCL/ITM for the sale of the Grand Lucayan resort.
