National

When Will The Grand Lucayan Be Sold?

GRAND BAHAMA, BAHAMAS – The Minnis administration purchased the Grand Lucayan Resort from Hong Kong conglomerate Hutchison Whampoa in August 2018 for $65 million.

Published

3 months ago

February 6, 2024

Italia Hall

GRAND BAHAMA, BAHAMAS – The Minnis administration purchased the Grand Lucayan Resort from Hong Kong conglomerate Hutchison Whampoa in August 2018 for $65 million but the sale and redevelopment of the resort fell through during the COVID-19 pandemic.

Prime Minister Philip Davis recently told reporters that it is his hope the Grand Lucayan Resort in Grand Bahama will be sold by the end of the year.

Five years later, the nation’s leader says the deputy prime minister is currently sifting through interested investors and will make recommendations.

You may remember in 2022, government announced that it had reached an agreement to sell the Grand Lucayan Resort to Electra America Hospitality Ltd.

The move sparked lots of hope among Grand Bahamians but by November 2022, the deal had collapsed.

Since then government has been tight-lipped about the sale.

Well in light of the prime minister’s recent comments, former magistrate and attorney Regnan Johnson is of the view that the government should be selective with their decision.

Resident Christine Van Der Line says most importantly government must ensure that the investor is the right fit.

But resident Jamiliah Glinton says she is numb to the news.