The Tribune

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

The Investments Minister yesterday said he would give any Bahamian bid to acquire Exuma’s iconic Club Peace & Plenty Resort “110 per cent support”, and favour their offer over any foreign rival.

Khaalis Rolle told Tribune Business that the Georgetown resort’s near-$6 million purchase price was well within the reach of local investors, and urged Bahamians not “to let this opportunity pass them by”.

Noting that Bahamians all too-often complained that foreign buyers pulled off all such deals, enjoyed special treatment and left locals out in the cold, the Minister implied that this was an ideal situation for persons to ‘put their money where their mouth is’.

He added that any Club Peace & Plenty purchaser would benefit from Exuma’s economic growth, and ongoing infrastructure and foreign direct investment (FDI) projects, which were likely to boost both visitor rivals and the property’s attraction.

“I’d like to see some Bahamians purchase that property,” Mr Rolle told Tribune Business. “This is an opportunity with everything that’s taking place and the economy growing.

“I’d like to see a Bahamian, or group of Bahamians, get involved in the purchase. I listen to us complaining about all these laws that allow investors to come in. Yet this is one seemingly within the reach of local Bahamian investors,” the Minister added.

“I’d like to see those who complain they are not getting opportunities move on the opportunity to acquire an iconic piece of property that will benefit from all the infrastructure investment taking place in Exuma.”

Just in case there was any doubt, Mr Rolle told Tribune Business: “I’d support any Bahamian group over any foreign group that goes to the table to purchase that property. They would have my 110 per cent support.”

Mr Rolle’s comments thus echo those of his namesake, Exuma Chamber of Commerce president Pedro Rolle, who indicated to Tribune Business on Wednesday that he would prefer a Bahamian buyer for Club Peace & Plenty.

However, as minister of state for investments, Khaalis Rolle’s comments carry far more weight. Nominally in charge of the Bahamas Investment Authority (BIA), which prepares applications for approval by the Investments Board and National Economic Council (NEC), his words indicate the Government may frown on foreign bidders for the Exuma resort - especially if a Bahamian group has proposed a rival bid.

The Club Peace & Plenty was opened by Lawrence Lewis, heir to the Henry Flagler railroad fortune, on January 14, 1958. The main building was originally a sponge warehouse and the bar a cookhouse dating back several hundred years to the Loyalist cotton plantation days.

Lewis sold the resort to the trio of Paul Swetland, Armand Angelone and Charlie Pflueger in 1969. That same year, Stan Benjamin, a Cleveland industrialist, first vacationed on Exuma and bought the Club Peace & Plenty several years later - remaining as owner with his family until this day.

The resort lists its famous visitors as including Jimmy Buffet; Prince Phillip of England; actors Robert Mitchum, Sam Elliott, Gene Hackman, Johnny Depp; Hume Cronyn and wife Jessica Tandy; Ester Rolle; Al Roker; Jackie Kennedy Onassis; baseball greats Mickey Mantle, Dusty Baker and Davey Johnson; golfers Jack Nicklaus, Ray Floyd, Greg Norman and Tom Weiskof; footballer Joe Namath and coach Don Shula.