The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

The One & Only Ocean Club’s historic Hartford Wing could be set for a major overhaul, with “serious discussions” underway on whether or not to initiate those plans this year.    

John Conway, the property’s general manager, said that although there was “nothing set in stone”, serious discussions, as recently as yesterday, were underway over cost estimates, design elements and whether or not to take the rooms off-line for renovations this year or in 2016.

Mr Conway said a decision on the way forward would likely be made in 21-30 days.

“Everyone knows it’s an old wing and needs to be updated to make it really spectacular again,” he told Tribune Business. “Right now we are open and budgeted for a full normal year, but there is serious discussion about what if we keep the resort open and take those rooms off-line for renovations some time in May 2015 through October 2015.

“I can’t say if it’s going to be this year or next year because the window of opportunity would be from May to November. We would never close those rooms during the season because they are just too valuable.”

Mr Conway added: “I do believe we will have to pull the trigger in 30 days, meaning we would have to pay the architect, commit to employees and all that stuff. Until we do that it’s a ‘no go’. There is absolutely nothing concrete right now.”

Access Industries, the company controlled and founded by its American billionaire chairman Len Blavatnik, purchased the One & Only Ocean Club’s purchase from Brookfield Asset Management last summer. Kerzner International’s 15-year management contract, via the One & Only brand, remains intact with no terms changed as a result of the new ownership.

“The new owners certainly intend to put money into the property over time, and one of the projects is the Hartford Wing.  Serious discussions are underway about that. If we go ahead it would be pretty thorough. It would be a very expensive full bring back. They’re even talking seriously about making the rooms significantly larger,” said Mr Conway.

Access Industries has also set its sights on developing a convention centre, after it closed the Ocean Club purchase for $140.5 million last year.

Khaalis Rolle, minister of state for investments, disclosed to Parliament that Access Industries’ acquisition also included the purchase of a six-acre site between the RIU Hotel and Sunrise Beach Villas for “future development” and expansion possibilities.

Jonah Sonnenborn, Access Industries’ head of real estate, said at the time: “We will invest in and continue to enhance the property to provide discerning global travellers the ultimate luxury experience in the Caribbean.

“The uniqueness of the property will be celebrated and enriched to provide our guests with a sophisticated, yet relaxed experience. We look forward to working with our neighbours on Paradise Island, the Bahamian government and Kerzner at this distinctive property.”

The Ocean Club was opened in 1962 as a 52-room hotel by Huntington Hartford II, heir to the Great Atlantic and Pacific Tea Company fortune. Some $10 million was invested in the project.

The Ocean Club was then sold to Kerzner International in 1994, and renamed One&Only Ocean Club in 2002 under the latter’s re-branding exercise.

The property has 105 units, featuring luxury suites and villas, with guests served by personal butlers. It sits on a 36-acre beachfront site, with amenities including Jean-Georges Vongertichten’s Dune Restaurant, two outdoor pools, the One&Only Spa, fitness centre, six tennis courts and two meeting space venues, and several outdoor event venues.