The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

BAHAMAS SPEED Week’s president said yesterday that if the event could generate 2,000-3,000 room nights it would be “well worth it,” telling Tribune Business the entire thrust was putting “heads on beds”.

Jimmy Lowe told this newspaper that final preparations were being made for the event, while admitting that some of the outsourced work was a little behind schedule.

“The whole thrust behind this event is that it is indeed a tourism event,” he said. “It’s about putting heads on beds. If we can get 2,000 or 3,000 room nights in the month of December, it will be well worth it

“We’re a little behind as some of the outsourced works didn’t get done on time, but we are closing in on getting all those things dealt with. We still think we will meet the final deadline. We had a deadline for it to be all done by last weekend.”

Mr Lowe estimated that $1.4-$1.5 million had been spent to hold Bahamas Speed Week for a second year.

“We are still calculating the numbers right now, but the budget on this is about $1.4-$1.5 million,” he added. “Will we be able to go through without losing money? I don’t know at this point. It’s a big number. There are things that just keep coming-out of the woodwork expense wise.”

Mr Lowe said: “Now that some of the infrastructure has been put in place to make racing possible, going forward in the next year we will see a different dynamic creeping into Speed Week. In any business you have to give it two to three years to develop. Next year we will know if it’s sustainable and how big we can grow going forth from here.”

Assessing ticket sales thus far, he added: “I know we were looking at our online ticket sales, and more than 60, almost 70 per cent of them come from abroad.

“The local ticket sales have been a bit slow. Bahamians typically wait for the last minute to buy. I haven’t put a number on it as yet.”

The second annual Speed Week Revival is spread over two weekends, November 24 to December 2, with greater emphasis on the Bahamia audience and access to the Fish Fry at Arawak Cay this time around.

Mr Lowe said that with unrestricted access being provided to Arawak Cay at this year’s event, it was expected this would generate more business for the vendors.

“I’m hoping that will be a huge boost because there is not going to be any restrictions for people coming into Arawak Cay on the Saturday or Sunday,” he said.

“Last year we had the vendors sort of in a box, but that’s not going to happen this year. The entire Fish Fry is going to be accessible this year. There’s no fee to access the Fish Fry this year,.

“There are a a few free viewing areas. If you want to get into the mix of things then it will cost you, but there are still areas where you can see the event without actually spending money.”

Racing legend Brian Redman has accepted the position of Grand Marshal for this year’s Speed Week Revival. Mr Redman, a multi-time racing champion, will join patron Sir Stirling Moss for its second running.