The Tribune

By DENISE MAYCOCK

Tribune Freeport Reporter

dmaycock@tribunemedia.net

PRIME Minister Dr Hubert Minnis yesterday insisted that government’s purchase of the Grand Lucayan Resort was essential to save the Grand Bahama economy, and that he would do it again.

Notwithstanding his own views, and public criticism, on the government’s involvement in the hotel business, Dr Minnis said purchasing the hotel was necessary.

While in Grand Bahama, the prime minister was questioned by reporters about the interests expressed by potential hotel buyers. “I know they are entertaining quite a number of groups, however, I am not intimately involved in the negotiations so I could not give any additional information,” he said.

During his address at the groundbreaking of Colonial Group International building in Freeport, he mentioned that they are seeing confidence in the bids to purchase the Grand Lucayan. He also noted that the temporary purchase by the Government of The Bahamas, was absolutely necessary.

When asked how soon he expects the property to be sold, Dr Minnis did not give a timeframe.

He said: “It has always been my view that government should not be in the hotel business, however, that was essential to save the economy of GB and whatever is necessary to save the economy of GB as the government that is our responsibility.

“Many people may have criticised us, but if we have to do it again we will do it again because we thought it was essential for GB to continue afloat, and it is time for the vessel to take off,” he said.

The government purchased the Grand Lucaya for $65 million from Hutchison Whampoa last August.

Lucayan Renewal Holdings, the Government-owned special purpose vehicle (SPV), now owns the Freeport resort as the government seeks a buyer.

The resort property features three brands: Memories, the 500-room Breaker’s Cay, and Lighthouse Pointe.

The hotel closed in October 2016 for repairs after it suffered damage from Hurricane Matthew leading almost 1,000 people to lose their jobs. In November 2016, only the 196-room Lighthouse Pointe reopened.

In February, 164 line staff workers at the hotel who applied for separation deals received their severance pay outs, gratuity and backpay.

Grand Lucayan’s revival, according to Tourism Minister Dionisio D’Aguilar is largely dependent on increased airlift to the island.