The Tribune

By LEANDRA ROLLE

Tribune Chief Reporter

lrolle@tribunemedia.net

WEST Grand Bahama and Bimini MP Kingsley Smith backtracked yesterday on remarks he made about the sale of the Grand Lucayan resort after telling reporters the transaction had not happened despite government officials saying otherwise.

In a statement, Mr Smith, the parliamentary secretary in the Ministry of Grand Bahama, said his choice of words could have been better to avoid confusion about the project’s status.

“My position is, and remains, entirely consistent with the government’s stance,” he said. “Having been personally present for the execution of the legal documents and the signing of the conveyance, I have no doubt about the reality of the sale.”

He dismissed suggestions of a rift between himself and the Office of the Prime Minister, describing his earlier comment as a misunderstanding made “in the heat of a media scrum” amid the complexities of international business.

Mr Smith’s clarification followed scrutiny over his earlier statement that “the hotel transaction did not happen at this time”, which directly contradicted comments by Prime Minister Philip Davis.

He made the remarks while speaking to reporters on Sunday, shortly after Mr Davis said the resort had been sold and that his government was waiting on the operator's plans.

While defending the project, Mr Smith said: “People may say that just because the hotel transaction did not happen at this time and progress is moving at the airport, they will use that as if nothing is happening.

“But we all know when it comes to business dealings, things can happen, things can fail. Obviously we are looking at investor’s money and not the government money to do it.”

The Davis administration announced the $120m sale last May to US-based Concord Wilshire Capital, which plans to invest $827 million into redeveloping the Grand Lucayan property and the adjacent 160-acre Reef Golf Course.

Since the highly publicised signing, however, few details have been released about the sale or the current status of the project.

Mr Smith claimed that when he referred to the transaction, he was speaking about the ongoing internal progress of the project, adding that at no point “did I imply or suggest that a sale had not occurred”.

He said that to some — including what he described as “an opportunistic opposition” — the lack of visible construction at the property might suggest a lack of progress, but he insisted that work is happening behind the scenes.

“Where the opposition is concerned, because they cannot see the internal work being done, they would have the public believe the deal is nonexistent. I refuse to let my words be used to support that lie,” Mr Smith added. “A delay in visible activity does not equate to a non-sale.”

Concord Wilshire officials did not respond to return requests for comment up to press time yesterday.