FREEPORT, Grand Bahama —The government has agreed to sell Grand Lucayan resort on Grand Bahama to Electra America Hospitality Group for $100 million, Acting Prime Minister and Minister of Tourism, Investments and Aviation Chester Cooper announced yesterday, adding that 2,000 construction jobs and 1,000 permanent jobs will be made available as a result, The Nassau Guardian reported on Thursday, May 12.
Electra has committed to a $300 million development of the property.
“Electra has committed to a luxury lifestyle hotel with approximately 200 rooms and two-dozen villas,” said Cooper at a press conference in Grand Lucayan’s foyer.
“Electra will also open an upscale convention hotel with more than 500 rooms that will cater to group and convention markets. An all-suite resort with more than 200 condo hotel-style suites is also planned for the property.
“A refurbished golf course complemented by a new, upscale country club and golf villas are also planned. This will be in addition to a renovated casino managed by a world-class casino operator.”
The Nassau Guardian understands that Hard Rock will operate the resort’s casino.
The resort will have at least 11 world-class restaurants and 10 bars, according to Cooper.
He said it will also feature a spa and fitness facility, amenities for children, event spaces, pools and water features.
“Subject to approvals, solar energy will be a major part of the property’s sustainable management strategy,” Cooper said.
“There will also be gardens on property that can provide true farm-to-table dining for guests. Electra has committed to best-in-class recycling practices as part of its commitment to sustainability.”
The government’s agreement with Electra is subject to a 60-day due diligence period with closing no later than 120 days.
Electra Hospitality Group CEO Russell Urban said the group will focus on planning this year. See complete article in The Nassau Guardian at https://thenassauguardian.com/a-new-deal-for-grand-lucayan/
