NASSAU, BAHAMAS — The Opposition is “prayerful and hopeful” that the Davis administration has secured a real deal for the sale of the Grand Lucayan hotel property that will benefit the people of Grand Bahama, according to its Leader
During a press conference, Michael Pintard pointed out that the Davis administration has had three years—more time than the former Minnis administration did—to secure a credible buyer for the property, having strongly criticized the deal to acquire it.
“The Prime Minister came to Grand Bahama just recently to meet with the potential buyers. This was advertised as a deal already done. The Prime Minister did not provide any details,” said Pintard.
“We are prayerful and hopeful that this sale is the real deal now. We know before that they oversold and underdelivered, but we are prayerful and hopeful. We are pulling for a deal that can work and assist the people of Grand Bahama, but with this administration, we have to wait and see. They are long on promises but short on delivery.”
Prime Minister Philip Davis reportedly met on Tuesday with a prospective buyer for the Grand Lucayan resort while he was in Grand Bahama but did not reveal who the prospective buyer is.
The Minnis administration had purchased the Grand Lucayan from Hutchison Whampoa for $65 million, a deal strongly criticized by the Progressive Liberal Party.
In December 2021, the Davis administration announced that the agreement between the Minnis administration later reached for Royal Caribbean Cruise Lines/ITM Group to acquire the Grand Lucayan resort had been canceled.
In May 2022, Deputy Prime Minister Chester Cooper revealed that the government had agreed to sell the Grand Lucayan to Electra America Hospitality Group for $100 million, with Electra pledging a $300 million development of the property. However, six months later, that deal fell through. The government has since been careful not to make any premature announcements of a buyer.
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