Seven Offers Down To One For Grand Lucayan

NASSAU, BAHAMAS – The new owners of the Grand Lucayan Resort will be announced soon. The long-awaited news comes following a week’s long selection process.

Deputy prime minister and the minister of tourism speaking with our Sasha Lightbourne who reports on who that new owner may possibly be.

​Deputy Prime Minister and Minister of Tourism Chester Cooper telling Rotarians of West Nassau Club today that an announcement will come in a few days about the new buyer of the Grand Lucayan Resort in Grand Bahama.

Those seven days are up and Cooper now saying on the sidelines of that rotary meeting that he’s optimistic, noting the initial bidding list stood at 30, which was cut to seven and now there’s only one.

Our News team understands that the successful bidder is allegedly the owners of the Hard Rock restaurant Downtown.

The Minnis administration bought the property from Hong Kong Conglomerate Hutchison Whampoa in August 2018 for $65 million.

In March 2020, the government signed a heads of agreement with Royal Caribbean Cruise Lines (RCCL) and the ITM Group, which promised to invest more than $300 million in the redevelopment of the property, and construction of a cruise port.

However, the Covid-19 pandemic delayed and changed the terms of the agreement.

After coming to office last September, the Davis administration canceled that deal, arguing that it was bad, and promised to find a new buyer.