DPM COOPER SAYS 1,000 JOBS DURING REDEVELOPMENT OF PROPERTY
NASSAU, Bahamas — The government intends to choose a buyer for Grand Lucayan resort on Grand Bahama by the end of the month, Minister of Tourism, Investments and Aviation Chester Cooper said on Tuesday, adding that redevelopment of the property could employ as many as 1,000 people, The Nassau Guardian reported on Wednesday, April 6.
Cooper said the government is reviewing three substantial offers from potential buyers.
He said any of the offers would be “acceptable” to the government.
“We are seeking the best outcome for the Bahamian people,” he told reporters before the weekly Cabinet briefing.
“I’ve always said that it will be a combination of the size of the check, the vision for the resort and a shared vision for Grand Bahama. So we’re seeking to find the right partner. We want to get this right. We’re being very deliberate. We’re learning from the mistakes of the previous administration with the last deal that was on the table.
“So we’re going to be very, very deliberate to get a deal that is good for the economy of Grand Bahama and the people of Grand Bahama. I anticipate by the end of April we would have determined the sole candidate that we will advance into an exclusive contract with.”
Cooper said between 500 and 1,000 jobs will be available during the construction phase of the redevelopment.
He said the government expects that phase to take 18 months.
“We are desirous of a phased approach so that we do not lose the rooms that we have at the Lighthouse Point (one of the hotels that make up the property) and we’re able to retain the employment of the persons at the Lighthouse Point while the other stages of the resort [are] being developed,” Cooper said.
“So there are a lot of moving parts. We are still cautiously optimistic about the outcome. But I can tell you we have three bidders and I believe any of those three would be acceptable to the people of The Bahamas, people of Grand Bahama, the government of The Bahamas.”
The government ended its month-long request for proposals last month. Five bidders were invited to present their ideas to the Lucayan Renewal Holdings board on how to transform and redevelop the 740-room resort, Cooper said previously. See complete Nassau Guardian story at https://thenassauguardian.com/grand-lucayan-buyer-by-end-of-month/
