The Tribune

By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net THE ongoing turmoil among Kerzner International's debt holders is unlikely to impact resort bookings and visitor perceptions of the Bahamas, according to tourism director-general David Johnson, who told Tribune Business yesterday that tourists were more concerned about the "product and service". In an interview, Mr Johnson said Atlantis remains an attractive venue. "It's really not going to have any affect on bookings or visitor perception," he added. "Atlantis is still a very attractive venue to guests. Many guests aren't aware of what's going on behind the scenes. The customers generally don't know about the financial underpinnings, and what they are concerned about is the product and what's the experience like. "The customers are only concerned about whether the product is there and whether they are going to get good service. Unless there is something that they won't receive on their vacation that they booked, it's not a major concern." Mr Johnson said the financial restructuring of Atlantis's owner, Kerzner International, has been in the public domain for quite some, but the resort continues to see gains in its business. "We are really not seeing the manifestation of any changes with regards to demand for Atlantis. I believe their fourth quarter was one of the strongest ever," he said. In a Wednesday interview with Tribune Business, George Markantonis, Kerzner International (Bahamas) president and managing director, said Atlantis's peak 2012 winter season was "looking stronger" than last year, and projected a 12-14 per cent increase in group business for 2012. On Tuesday, Toronto-based Brookfield Asset Management cancelled a proposed deal, which would have seen it swap some $175 million in debt owed to it by Kerzner International for 100 per cent ownership of the Atlantis and One & Only Ocean resorts in the Bahamas, and the One & Only Palmilla in Mexico. It took this decision after two other 'junior' hedge fund lenders to Kerzner International, in the shape of the Trilogy Portfolio Company, Canyon Value Realisation Fund, Canyon Value Realisation Master Fund, and Canyon Balanced Master Fund, on Friday successfully obtained a temporary restraining order from the Delaware Chancery Court that barred Brookfield from closing the deal with Kerzner.