NASSAU, Bahamas — Tourism Minister Dionisio D’Aguilar said yesterday the government was forced to act to save the Grand Lucayan hotel properties because its owner Hutchison Whampoa has been threatening to shut down the property, The Tribune reported August 15.
Mr D’Aguilar stressed the move was “the best of a bad choice” in an “emergency” situation.
He told media outside Cabinet he personally discouraged such acquisitions as a former private sector professional, adding it was too early to tell whether the government’s purchase would increase tourism revenue for the island.
“There are so many things you need to do to correct that property,” Mr D’Aguilar said, “but you know the purchaser is threatening every day to close it and lay off all these Bahamians and to close it, and once you close it, it’s so difficult to reopen. So we’re making the best of a bad situation and we are trying as best as possible to be a kind and caring government.” http://www.tribune242.com/news/2018/aug/15/closure-threat-forced-our-hand/
