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BAHAMAS: LOI Signed for Purchase of the Grand Lucayan Resort

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#Freeport, GB, March 29, 2019 – Bahamas – “We have done what we said we would do – in the face of much criticism the Government of The Bahamas purchased the Grand Lucayan Resort for $65 million dollars and we said that we would hold it for the shortest period of time and sell it for $65 million dollars – and we have done exactly that.”

Those were the sentiments of Minister of Tourism, the Hon. Dionisio D’Aguilar, during an official press conference on Wednesday, March 27, 2019 in the Office of the Prime Minister, as a part of the signing of a Letter of Intent (LOI) for the purchase of the Grand Lucayan resort.

On hand for the signing of the LOI and the major announcement were Tourism Minister D’Aguilar; Minister of State for Grand Bahama, Senator Kwasi Thompson; Chairman of Lucayan Renewal Holdings Limited, Michael Scott; President of the Senate, Katherine Forbes-Smith; Vice-President of Government Relations/Americas for Royal Caribbean Cruise Lines, Russell Benford; and Chief Executive Officer of ITM, Mauricio Hamui.

The LOI was signed between Lucayan Renewal Holdings and ITM/Royal Caribbean joint venture. The deal is expected to transform the Grand Lucayan resort and its surrounding areas, as well as develop the harbor in Freeport into a destination product using water-based adventure theme parks. Both ITM and Royal Caribbean have worked on successful projects in the past.

“I am pleased to announce to the people of Grand Bahama and to the entire Bahamas that the much-anticipated sale of the 217-acre Grand Lucayan resort has finally been agreed upon,” added Minister D’Aguilar.

“The development that will roll out in Grand Bahama over the next 24-36 months will go far in restoring the island’s economy to its former glory days.”

Minister of State for Grand Bahama, Senator Kwasi Thompson noted that the signing of the LOI confirms the government’s agreement to enter into exclusive negotiations with Royal Caribbean International and the ITM Group for the purchase of the Grand Lucayan resort and the redevelopment of Freeport Harbor into a cruise port of choice.

“The $195 million investment earmarked for the first phase of the project over a twenty-four month period will include the purchase price of $65 million and the creation of approximately 2,000 jobs,” said Minister Thompson.

“Discussions leading to a Heads of Agreement, subject to the approval of the National Economic Council, will begin immediately on matters related to Bahamian employment requirements and Bahamian participation in specific areas.

“However, it is anticipated that Bahamians will have significant ownership participation in restaurants, retail stores, transportation and water sports.”

Minister Thompson noted that the joint venture project between RCI/ITM will not only combine the redevelopment of Freeport Harbor as a cruise port of choice, but will also transform the Grand Lucayan resort into a theme park, featuring water-based family entertainment, with dining, gaming and entertainment options and five-star hotel accommodations.

He noted that significant demand for both airlift and sealift to the destination is being created, including the unleashing of much-needed economic opportunities.

“The redevelopment of Freeport Harbor is anticipated to include significant increase in cruise ship arrivals, bringing an additional approximately two million passengers annually, with the addition of multiple cruise lines calling on Grand Bahama,” added Minister Thompson.

Since placing the Grand Lucayan on the market, there were over 62 expressions of interest from local and global firms. By February 14 of this year, eleven letters of offer were received and evaluated by the Board of the Lucayan Renewal Holdings Ltd.

According to Minister Thompson, on Friday, March 22, the Board, in carrying out its predetermined exit strategy, unanimously approved a resolution to recommend to the Prime Minister and the Cabinet, the sale of the Grand Lucayan to RCL/ITM.

The Minister noted that when considering all of the bids for the resort, one of the major components that went into their final decision was finding the company or entity that would create a unique destination for Grand Bahama.  “For us, it was more than just about trying to sell the hotel,” added Minister Thompson. “We knew we needed to do more, and creating a unique destination was at the forefront. The joint venture with Royal Caribbean and ITM fit that bill.”

Russell Benford, vice-president of Government Relations/Americas for Royal Caribbean said that coming to The Bahamas seemed like a perfect fit, considering the fact that the company was created with the Caribbean as its major destination.  “This is an incredible project and I want to thank the Bahamian Government for giving us this opportunity in Grand Bahama,” said Benford.  “We are honored to have been chosen from some really great people and companies around the world for this project.

“We understand what Grand Lucayan means to the Government of The Bahamas and to the people of Grand Bahama and so you have our commitment that we will do this project right and we will do right by the government and the people of The Bahamas.

“We build spectacular world class products and we will bring that same excellence and dedication here to this project in Grand Bahama.”

By Andrew Coakley

Release: BIS

Photo Captions:

Header: Minister of Tourism, the Hon. Dionisio D’Aguilar (seated third left), along with Minister of State for Grand Bahama, Senator Kwasi Thompson (seated second left), was joined by Michael Scott (seated centre), chairman of Lucayan Renewal Holdings Ltd.; Russell Benford (seated, third right), vice-president of Government Relations/Americas for Royal Caribbean; Mauricio Hamui (seated second right), chief executive officer of ITM, along with Board Members of Lucayan Renewal Holdings (standing) for LOI signing for the purchase of the Grand Lucayan resort, in the Office of the Prime Minister on Wednesday, March 27, 2019.

1st Insert: Minister of State for Grand Bahama, Senator the Hon. Kwasi Thompson, speaking during a press conference and official signing of Letter of Intent for the Purchase of the Grand Lucayan on Wednesday, March 27, 2019.   Looking on is President of the Senate, the Hon. Katherine Forbes-Smith.

2nd Insert: Mr. Russell Benford (centre), vice-president of Government Relations/Americas for Royal Caribbean, says the company is excited about the project in Grand Bahama and promised to bring excellence and dedication to the restoration and redevelopment of the Grand Lucayan resort, as well as redevelopment of the Cruise Port in Freeport.  At right is Mr. Mauricio Hamui, chief executive officer, ITM, and at left is Mr. Michael Scott, chairman of Lucayan Renewal Holdings Limited.

BIS Photos/Lisa Davis

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Next U.S. Ambassador?  Walker Pledges Business-Driven Approach as U.S. Looks to Counter China in The Bahamas

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Deandrea Hamilton | Editor

 

The Bahamas, September 16, 2025 – For the first time since 2011, the United States is on the cusp of sending an ambassador to The Bahamas — and the nominee, former football star turned entrepreneur Herschel Walker, is promising to bring his business instincts to the diplomatic table.

Speaking before the Senate Foreign Relations Committee last week, Walker underscored that his background in food-service companies and small business leadership has prepared him to think practically about investment. “I know how to run a business, how to create jobs, how to make payroll. Those lessons translate into building relationships and building trust,” Walker said.

Walker, who was nominated by President Trump in December 2024, faced the Senate Foreign Relations Committee on September 11. As of now, he has not yet been confirmed; his nomination remains under review, pending a committee vote before it can move to the full Senate. If approved, he would become the first U.S. ambassador to The Bahamas since 2011.

For years, U.S. officials have stressed security and counternarcotics cooperation with The Bahamas, including through “Operation Bahamas, Turks and Caicos.” But in areas like infrastructure, medical care, and long-term investment, Washington has often been absent.

Hospitals and clinics remain under-resourced, and hurricane recovery has been slow in many islands. Chinese state-backed firms, by contrast, have shown up with financing packages and construction deals — a presence that has raised alarms on Capitol Hill.

“Only 50 miles off our shore, The Bahamas is too important for us to ignore,” warned Senate Foreign Relations Committee leaders during Walker’s hearing. They called China’s inroads “strategic, not charitable,” suggesting Beijing’s long game is about ports, proximity, and political leverage.

Walker positioned himself as a nontraditional but pragmatic envoy. He argued that his business career, rooted in private sector success, equips him to champion American investment in The Bahamas.

He pledged to:

  • Promote U.S. companies interested in medical and infrastructure projects.
  • Support an environment that encourages American investors to see The Bahamas as more than just a beach destination.
  • Highlight opportunities for partnerships that improve public services, healthcare, and resilience against hurricanes.

“I’ve built businesses. I know what it takes to attract investors and create opportunity. That is exactly what I intend to bring to our relationship with The Bahamas,” Walker said.

The Bahamas is not just a tourist paradise. It’s a frontline state in migration, drug interdiction, and hurricane response. More than six million U.S. visitors travel there annually, making stability and safety a U.S. domestic concern as much as a foreign policy one.

And yet, with the ambassador post vacant for 14 years, the U.S. has often looked detached — opening space for China’s ambitious Belt and Road agenda. The fear is that infrastructure deals signed today could give Beijing leverage in the region tomorrow.                                                                                                                                                                                                                Walker’s confirmation would symbolize a course correction, signaling Washington’s intent to re-engage not only in security but in the economic future of The Bahamas.                                                                                                                                                                                                                    Not everyone is convinced Herschel Walker is the right man for the job. His nomination revived controversies from his 2022 Senate run, including past allegations, public gaffes, and doubts about whether he has the diplomatic polish the post demands. Some senators and analysts questioned whether celebrity and business experience were enough for a role requiring nuance in foreign policy and geopolitics.

Critics argued that The Bahamas, sitting just 50 miles from Florida and facing intense Chinese interest, deserves a seasoned diplomat rather than a political ally.

Walker confronted those doubts head-on. “People have underestimated me all my life — in academics, athletics, and business,” he told the Senate Foreign Relations Committee. “And I have always proven them wrong, through discipline, determination, and by outworking everyone.”

He admitted he had never served as an ambassador but countered that his career prepared him in other ways: building businesses, managing payrolls, and connecting with people from all walks of life. He framed his business background as a strength, promising to use it to encourage U.S. investment in healthcare, infrastructure, and hurricane resilience projects in The Bahamas.

Rather than sparring with critics, Walker leaned on confidence and persistence: “I know how to build trust and find common ground. That’s what this relationship needs.”

If confirmed, Walker would have to balance his role as diplomat with expectations of being a commercial cheerleader for U.S. firms. His emphasis on entrepreneurship suggests a willingness to push U.S. businesses toward opportunities in healthcare, ports, and post-storm reconstruction — areas where Bahamians say they need the most support.

For Bahamian officials, the question will be whether Washington is prepared to back words with financing. U.S. private sector dollars, paired with aid and development partnerships, could help shift the tide against Chinese influence.

For Walker, the test will be whether his business acumen can translate into diplomatic wins — giving Bahamians alternatives to Beijing, while deepening the U.S. role in the Caribbean.

Analysis: If Walker delivers, this appointment could mark a turning point: a U.S. strategy that recognizes that in the Caribbean, investment is diplomacy.

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Conflicting Reports as Grand Bahama Awaits Its New Airport: What to Believe?

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Deandrea Hamilton | Editor

 

September 16, 2025 – Grand Bahama’s wait for a modern international airport has taken another dramatic turn. Just days after reports surfaced that the $200 million redevelopment had collapsed because partners failed to secure financing, the government is now insisting the project is alive and well — with funding in the “final stages” and construction on the horizon.

Earlier This Week: Airport Deal in Dire Straits

The week began with grim headlines. Deputy Prime Minister and Aviation Minister Chester Cooper confirmed that private partners in the much-heralded consortium had not produced financing. “Regrettably, the funding had not happened,” he admitted, sparking widespread fears the deal had crumbled.

Those admissions triggered a storm of skepticism in Freeport. Back in February, the government had declared the airport deal “finalized,” naming Aerodrome Ltd., Manchester Airport Group, and BHM UK as partners. They promised demolition within 30 days, designs in 45 days, and a new terminal by year’s end. But now, more than four months later, not a single milestone has been delivered.

For residents and business leaders, the collapse narrative confirmed their worst fears: that Grand Bahama was once again being strung along with empty promises. Long-stay tourism — the kind that sustains hotels, restaurants, taxis, and shops — depends on a functioning airport. Without it, the island’s economy remains hobbled.

Today: Government Pushes Back

But late Thursday, the government issued a forceful rebuttal. “The redevelopment of Grand Bahama’s International Airport remains a central priority for this administration and is key to the island’s economic renewal,” the statement read. Officials stressed that they are “in the final stages of securing funding and concluding agreements on airport management.”

The statement went further, clarifying the role of Manchester Airport Group, the UK’s largest airport manager. MAG, it said, was never meant to provide financing but remains a core partner in shaping the airport’s development and management. Bahamian contractors, the government insisted, are part of the team tasked with delivering the facility. “Our focus is on results,” the release concluded. “Grand Bahama will have the airport it needs to grow, attract investment, and strengthen its role as a gateway to The Bahamas.”

Who Should Grand Bahama Believe?

The conflicting narratives — one of a deal in “dire straits,” the other of a project in “final stages” — have left Grand Bahama residents struggling to know what to believe. Is the airport project truly on life support, or is the government simply playing its hand close until funding details are nailed down?

Skeptics point out that this is hardly the first time the airport has been declared a priority only to see little follow-through. Promises in 2023, in February 2025, and again in summer 2025 all failed to produce visible progress. Each missed deadline has chipped away at public trust.

Supporters of the government counter that large infrastructure projects are inherently complex, with legal negotiations and financing arrangements often dragging longer than planned. They argue that the continued involvement of Manchester Airport Group is evidence the project is still credible.

The Bigger Picture

Grand Bahama’s airport troubles are intertwined with the stalled $120 million Grand Lucayan hotel sale, which also remains without visible progress 129 days after it was announced. Business leaders insist both projects must move together if the island is to see real recovery. A luxury resort without a modern airport is as unviable as an airport without hotel rooms to fill.

For now, the people of Grand Bahama are left in limbo. This week they were told the airport deal had failed. Today, they’re being told it’s moving forward. The only certainty is that, nearly a year after the latest round of promises, not a single crane has touched the sky.

As one resident put it: “We don’t need more statements. We need to see bulldozers.”

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U.S. Coast Guard Trains Bahamian Partners in Water Survival Skills

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The Bahamas, September 10, 2025 – Rescue swimmers from the United States Coast Guard (USCG) Aviation Training Center in Mobile, Alabama visited Nassau to train Royal Bahamas Defense Force (RBDF) and Royal Bahamas Police Force (RBPF) members in water survival skills as part of Operation Bahamas Turks and Caicos (OPBAT) earlier this week.

“Training alongside our USCG partners ensures our personnel are best prepared for the unique challenges of joint operations” said Superintendent Wendy Pearson, Commander Drug Enforcement Unit.

The multi-day exercise, centered on the USCG’s Shallow Water Egress Training (SWET), enhanced the safety and preparedness of Bahamian partners who routinely operate aboard USCG helicopters during OPBAT missions. The exercise provided hands-on instruction for 31 participants and strengthened interoperability between U.S. and Bahamian agencies engaged in counter-drug, search and rescue, and maritime security operations throughout the region.

“We were excited and proud to have the opportunity to share our expertise with our Bahamian partners. Not only did RBDF and RBPF perform exceptionally well, they exceeded the standards we set for the event,” said Petty Officer Second Class Cole Johnson, USCG.

OPBAT is a cooperative multi-agency international operation supporting The Bahamas and Turks & Caicos Islands to stop illicit drug smuggling through the region. U.S. Embassy Nassau Chargé d’affaires Kimberly Furnish stated, “Since 1982, OPBAT has worked to stop the flow of illicit narcotics through the Caribbean, destined for the United States or other jurisdictions.  This is international cooperation at its best.”

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