D’Aguilar: Grand Lucayan sale ‘inching ever closer”

D’Aguilar: Grand Lucayan sale ‘inching ever closer”
Aviation Minister, Dionisio D'Aguilar.

Government not happy with pace of repairs at Grand Bahama airport

NASSAU, BAHAMAS – Tourism Minister Dionisio D’Aguilar said yesterday the sale of the Grand Lucayan is ‘inching ever closer’ but “we don’t have a deal yet”.

D’Aguilar would not give a definitive timeline for the completion of the sale but told reporters ahead of a Cabinet meeting yesterday.

“The Grand Lucayan deal is inching ever closer,” he said.

“We are at the finish line, crossing the T’s and dotting the I’s and really hoping to get it concluded in the quickest possible time. We don’t a deal yet but we’re close.”

For several months, the government has been negotiations with Holistica – a joint venture company formed by Royal Caribbean International and ITM Group – on the renovation and development of Freeport’s cruise port and the Grand Lucayan resort complex.

In 2016, Hurricane Matthew that caused parts of the Grand Lucayan to be shut down and the property to be subsequently taken over by the government in order to protect jobs and ensure the sale of the property.

The Grand Lucayan resort features three brands: Memories, the 500-room Breaker’s Cay and Lighthouse Pointe. The government purchased the resort for $65 million.

The government signed a letter of intent with Royal Caribbean/ITM Group’s Holistica joint venture for the purchase of the Grand Lucayan, and redevelopment of Freeport Harbour, in March 2019.

The sale of the resort was expected to be completed by year-end 2019.

D’Aguilar also addressed the government’s potential acquisition of the Grand Bahama International Airport.

He said: “The situation is still very fluid. The government of The Bahamas is still considering its options as it relates to the airport. We are not happy with the pace of repairs at the airport.

“I don’t think we have concretized anything yet. The government is not happy with the current situation and looking to rectify it.”

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