The Tribune

By NATARIO McKENZIE Tribune Business Reporter nmckenzie@tribunemedia.net THE BAHAMAS Hotel, Catering and Allied Workers Union (BHCAWU) yesterday said it continued to remain vigilant over the employment situation at Atlantis following Brookfield Asset Management's assumption of ownership, interpreting the fact it had not been called in as a positive sign. Union president, Nicole Martin, said that the union had not been involved in any talks with management prior to the move, telling Tribune Business yesterday: "We didn't have any formal discussions, which is actually a good thing. "Our contracts says that if there is a change in ownership, prior to the sale the employer would have a right to terminate employees and choose if they want to rehire. "Since we weren't engaged it means that that was not an issue as it relates to the employees, so it was merely a change of ownership that did not impact our members or their jobs." She added: "Of course we are concerned and remain vigilant. With a change you have sometimes a change in philosophy. We are just watching, we are still very much involved in things as they happen every day, are hoping for the best and continue to do our part as a union on behalf of those workers." As part of the deal, Kerzner International said that embedded in the ownership swap with the Toronto-based asset manager were "assurances" there would be no cuts to the resort's 7,500-strong workforce. Earlier this week, Kerzner International announced that it will transfer its ownership of Atlantis and the One & Only Ocean Club to Brookfield, which has some $159 billion in assets. The deal effectively transforms Kerzner International into a resort management company, as opposed to its previous status as an owner/operator, with Brookfield forgiving $175 million owed to it in a debt-for-equity swap.