NASSAU, Bahamas –The government is seeking to complete the sale of the Grand Lucayan resort before the end of April, Deputy Prime Minister and Minister of Tourism, Aviation and Investments Chester Cooper said on Thursday, March 17, The Nassau Guardian reported.
Cooper said after the month-long request for proposals (RFP) process, which closed earlier this month, the government has invited five of the top bidders to present their ideas to the Lucayan Renewal Holdings board this weekend, on how to transform and redevelop the 740-room resort.
“After much effort on the part of my ministry and the Davis administration, we are nearing the end of the process to sell the Grand Lucayan resort. We have invited five bidders to present to the board of Lucayan Renewal Holdings Limited this coming Sunday, after which we intend to enter into exclusive negotiations with one of them, for the sale and redevelopment of the resort,” Cooper told the 32nd Grand Bahama Business Outlook, held March 17.
“Vision, financial capacity and speed of mobilizing, along with a commitment to the shared vision for Grand Bahama, will be the overarching factors that inform our selection of the bidder with whom we will partner. As with the request for offers, we have set a deadline to the conclusion of the negotiations. We have a firm date in early April set to enter into the agreement and to disclose the terms of the deal to the public. I assure you we will not tarry.”
The Minnis administration purchased the resort from Hong Kong conglomerate Hutchison Whampoa in August 2018 for $65 million. See complete Nassau Guardian article at https://thenassauguardian.com/cooper-grand-lucayan-sale-expected-to-be-complete-by-april/
