NASSAU, The Bahamas — The Opposition is once again demanding answers over the stalled Grand Lucayan Hotel takeover in Freeport, citing delays, unpaid vendors, and the continued drain on public resources.
Shadow Finance Minister and East Grand Bahama MP J. Kwasi Thompson in a statement called for transparency and accountability on the high-profile project, which he noted has seen little progress since the deal was announced earlier this year.
“The Free National Movement again demands answers from the Davis Administration on the Grand Lucayan Hotel deal in Freeport, Grand Bahama. This deal was trumpeted with great fanfare, yet months later it remains stalled, mired in silence, and continues to fail the Bahamian people,” Thompson said.
“The Government announced that turnover of the property would occur in August. That deadline has come and gone with no explanation, no progress, and no accountability,” he added.
From the outset, the Opposition has raised critical questions. “Why has demolition not begun? Why has the hotel quietly extended reservations into December, and how does this affect the promised demolition timeline? Who is responsible for paying the hotel’s vendors and suppliers, and why are hardworking Bahamian businesses still owed hundreds of thousands of dollars? Is it even true, as has been reported, that the hotel owes thousands to the very security company charged with protecting the property?”
“These are not small matters. Local vendors, contractors, and small businesses are being left in the cold while the Government remains silent. This is disgraceful,” Thompson said.
Thompson also highlighted fiscal concerns, noting that earlier this year the Office of the Prime Minister declared: “From this point forward, all expenses associated with the property will be assumed by the developer. This is a significant shift in fiscal responsibility, as the government had been paying approximately $1.5 million per month over the past three years — amounting to an estimated $63 million in holding costs.”
“If this statement was true, why are bills still outstanding? Why are questions now swirling about whether the Government continues to pay? And if so, from where, given that no such allocation exists in the national budget?” he asked.
Thompson argued that the people of Grand Bahama deserve the truth but instead, they are left with delays, confusion, and a hotel that continues to drain public resources,” Thompson said.
“The Davis Administration must come clean. Bahamians were promised renewal and real progress. What they have been given is, yet another PLP failure marked by silence, broken promises, and mounting debt. The Opposition will not relent. We will continue pressing until the people of Grand Bahama and the entire Bahamas get clear, honest answers. What exactly is happening at the Grand Lucayan?”
In May, the government signed a Heads of Agreement with Concord Wilshire Capital for the redevelopment of the Grand Lucayan under its Bahamian subsidiary, Ancient Waters Bahamas Ltd. The project, estimated at $827 million, includes a new hotel, casino, timeshare units, a marina, cruise resort, and entertainment venues.
