Bahamas News

$27M promised to Baha Mar by PLP, unexplained

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7 years ago

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Bahamas, June 8, 2017 – Nassau – During the Budget Communication, Bahamians learned that the PLP Administration agreed to a payout of $9M per year for three years as an equity investment to see the beleaguered, Baha Mar resort opened. 

A media report exposed that the hefty multi-million dollar payout from the public purse, appears to be unrelated to the millions promised to Baha Mar for marketing support; a bill of $4M per year for The Bahamas Government. 

Comments to clarify the $27M equity contribution are elusive at this hour, but new Tourism Minister, Dionisio D’Aguilar said Baha Mar will open with just 25% of rooms sold and will continue to phase in bookings. 

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