FREEPORT, Grand Bahama — The Hon. Kwasi Thompson, Minister of State in the Office of the Prime Minister in Grand Bahama, announced on Wednesday March 27, 2019 that Lucayan Renewal Holdings Ltd. has signed a Letter of Intent with Royal Caribbean Cruises Ltd. (RCL) and the ITM Group to begin exclusive negotiations for the purchase of the Grand Lucayan Resort at a price of $65 million. The proposed joint-venture project between RCL/ITM will include the redevelopment of the Grand Lucayan Resort into a world class destination, featuring water-based family entertainment, with dining, gaming and entertainment options, and five-star hotel accommodations. Seated at the announcement, from left to right: Senator Kay Forbes-Smith, President of the Senate; the Hon. Kwasi Thompson, Minister of State for Grand Bahama; the Hon. Dionisio D’Aguilar, Minister of Tourism and Aviation; Attorney Michael Scott, Chairman of Lucayan Renewal Holdings Ltd.; Russell Benford, Vice President of Government Relations/Americas for Royal Caribbean; Mauricio Hamui, Chief Executive Officer of ITM; and Linda Turnquest, LHRL Assistant Secretary. Standing from left: Harcourt Brown, Permanent Secretary, Office of the Prime Minister in Grand Bahama; Carey Leonard, LHRL Director; Ellison Delva, LHRL CRO; and Assistant Secretary Terrance Roberts, Assistant Secretary.
