Grand Lucayan Resort Buyer

FREEPORT, BAHAMAS – A cause for celebration on Grand Bahama, on news of the $100 million sale of the Grand Lucayan resort. Long hailed as the island’s anchor property, the sale of the 7.5-acre resort is expected to signal a rebirth of an economy long on life-support.

Megan Shepherd reports.

This celebration is years in the making.

The massive damage from Hurricane Matthew in 2016 forced the hotel to close. In a controversial move, the Free National Movement government bought the property from the owners in 2018.

The purchase deal on the table was cancelled in late 2021 by the Davis administration.

Tourism Minister Chester Cooper tells Grand Bahamians the new property owner, Electra America Hospitality Group, hopes to transform it into an environmentally sustainable luxury resort.

The first order of business for the new owners is to keep the Grand Lucayan name while rebranding the property.

The tourism minister is promising more details on the deal while also giving a commitment to rebuilding and opening a world-class airport.