The Tribune

By RASHAD ROLLE

Tribune Senior Reporter

rrolle@tribunemedia.net

ROYAL Caribbean International has abandoned plans to acquire the Grand Lucayan resort, with its President and CEO Michael Bayley saying the cruise company did not submit a bid during the recently concluded request for proposals process.

Mr Bayley said his company is in discussions with other partners for a different project in Grand Bahama.

 “We obviously had a great ambition for Grand Lucayan and then the pandemic hit and, of course, things changed quite dramatically,” he told reporters yesterday.

 “We’re still hopeful and committed to being part of a project in the long run for Freeport obviously and we’re in discussions with the government.”

 Last year, when the Davis administration announced the cancellation of RCI’s agreement with the ITM Group to acquire the resort, RCI said it looked forward to participating in the new bid process.

 The RFP process for the Grand Lucayan ended on March 2.

 Deputy Prime Minister and Minister of Tourism, Investments and Aviation Chester Cooper said the government received a significant level of responses.

 He added: “Based on what I’ve seen, there are several credible responses that we have already received in relation to the acquisition of the hotel.”

 “Over the next few days, I will receive a formal briefing and when we do so, I will have more to say next week during the budget debate.”

 In December, Mr Cooper said the previous agreement for the sale of the Grand Lucayan was cancelled because of what the new government considered to be the poor terms negotiated under the Minnis administration and what it considered was a lack of clarity on how quickly the project would be advanced.

 Mr Cooper said the Minnis administration’s agreement to lend subsidiary company Bahamas Ports Investments (BPI) money to renovate and develop the property was a no-go.

 He said the ideal candidate would be a company that has experience, significant resources, a vision for the property and a commitment to develop Grand Bahama as a destination.

Mr Cooper said to maintain and operate the Grand Lucayan property, the government spends $1.2m to $1.5m a month.