EDITOR, The Tribune.
The Our Lucaya Resort - Freeport.
What will the property fetch?
Built some 15+ years ago at an estimated costs of $1.2 billion - has never performed in fact it is rumoured to have cost the Hutchinson-Whampao Group an enormous amount annually for most of those 15 years.
Wasn’t it rumoured recently that the asking price had been dropped from the previous high of $800m to the low $200m?
Based on potential Rev as in revenue, many will be more than surprised if the property will attract a bid over $110 million.
Freeport as a destination is very low on the regional tourism radar irrespective of the hype of MOT/Tourism.
Memories are doing reasonably well because of the tie-in between the operator - airlift and pricing as an all-inclusive. Sunwing might be the party that ends up with the Our Lucaya.
This writer can’t see anything to be happy about that Hutchinson Whampao is selling it tells a lot about the destination of Freeport .... Deadish!
E GRANT
Nassau,
March 18, 2016.
Comments
TheMadHatter 8 years, 5 months ago
Sorry to sound like a stuck-record/parrot - but I say again, Govt will not allow FPO to develop until the white people who own the Port agree to sell out. This, of course, is not official policy. However, you can observe the policy in action. After they sell out (and they eventually will), watch how fast the govt red tape is removed.
TheMadHatter
proudloudandfnm 8 years, 5 months ago
Not deadish.
Dead.
As in gone. Over. Finished.
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