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Grand Lucayan, Sold

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#FREEPORT, Grand Bahama – February 2, 2020 — The Government of The Bahamas sold the Grand Lucayan on Monday, March 2, 2020 to a partnership between Royal Caribbean International and ITM (Bahamas Port Investments Ltd.), which is expected to make a $250 million investment between the hotel and the redevelopment of the cruise port.


GRAND LUCAYAN SOLD – Prime Minister, the Most Hon. Dr. Hubert Minnis, on Monday, March 2, 2020 was on island for the Heads of Agreement signing between the Government of The Bahamas and Bahamas Port Investments Ltd. for the sale of the Grand Lucayan.   Also present were members of Cabinet, Members of Parliament, Permanent Secretaries, senior government officials and members of the business community. The ceremony was held on the Great Lawn of the Grand Lucayan. The event officially started shortly after 11 a.m.  (BIS Photo/Yontalay Bowe)

The Heads of Agreement Signing Ceremony was held on the Great Lawn of the property, some 11 months following the signing of the Letter of Intent on Wednesday, March 27, 2019.

Prime Minister of The Bahamas, the Most Hon. Dr. Hubert Minnis described the day as a wonderful one as the government’s intention was never to hold on to the property, but initially purchased it so save jobs of Grand Bahamians and businesses.

Dr. Hubert Minnis – Bahamas Prime Minister

“As we stated at the time, it was our intention to privatize the property as quickly as possible. We wanted to ensure that we found the right buyer who shared our vision for the renewal of Grand Bahama. Our vision was the renewal and rebirth of Grand Bahama’s tourism sector and product as an essential element in the restoration of this island’s potential.


SIGNING CEREMONY — The Government of The Bahamas and Bahamas Port Investments Ltd. signed a Heads of Agreement with respect to purchase of the Grand Lucayan today, March 2, 2020.  Prime Minister, the Most Hon. Dr. Hubert Minnis (standing, second right) said the multi-million dollar investment “will go a long way in revitalizing Grand Bahama, with myriad economic and employment opportunities for more Grand Bahamians.”   Seated at left are Royal Caribbean International President and CEO Michael Bayley (left) and CEO of ITM Mauricio Hamui, representing the Developer; and at right, Secretary to the Cabinet Camille Johnson (second right) and Director of Investments Candia Ferguson.  Standing from left: Minister Iram Lewis, Minister of State Kwasi Thompson, Deputy Prime Minister Peter Turnquest, Prime Minister Hubert Minnis, and Minister Dionisio D’Aguilar.   (BIS Photo/Yontalay Bowe)

“I am pleased that Royal Caribbean Cruise Line and the ITM Group, trading as Bahamas Ports International, share our vision and decided to invest in the long-term future and sustainability of Grand Bahama. The Developer shared their vision of reinventing the tourism product for land-based guests arriving by air and those arriving by cruise and ferry ships with a distinctive Bahamian flavour and characteristics.”

He continued, “This $250 million dollar investment will go a long way in revitalizing Grand Bahama, with myriad economic and employment opportunities for more Grand Bahamians. After many false dawns, there is an exciting new horizon for our second most populous island and economic center. Both the government and the developer are investing in the future and possibilities of Grand Bahama. Grand Bahamas is at the beginning of a new day.”

As a result of the purchase, 3,000 direct and indirect jobs will be created in construction as well as working at the hotel or cruise port.

Grand Bahamians will reap the benefits of capital investment, employment opportunities for Bahamian workers in the tourism and construction industries, increased commerce for local businesses in the Port Lucaya Market Place, taxi drivers and tour operations. This increased revenue will enable the government to support infrastructural programs.

Additionally, training programs will be offered for Bahamians through RCCL Training Academy as well as opportunities for small businesses and Bahamian entrepreneurs including those producers of Bahamian products.

“With Grand Bahama’s proximity to the large Florida market in particular, this investment will promote sustainable economic growth and development on Grand Bahama. This investment will also expand the experience for cruise passengers to The Bahamas. As you are aware, a high number of cruise experiences are Bahamas only cruises, a strategic advantage for The Bahamas and good economics for cruise lines. Given the many millions of people who enjoy cruises and the size of the market, the new ports in Nassau and Grand Bahama will both enjoy increased numbers.

“Ladies and Gentlemen: As a result of this development it is anticipated that Grand Bahama will provide a better and more enjoyable overall guest experience to Freeport, Grand Bahama, and promote future traffic growth to Grand Bahama. We must revitalize public infrastructure and provide economic opportunities and incentives for the private sector to invest in the revitalization of properties and businesses.”

The Prime Minister said discussions are currently ongoing to determine the best way to redevelop the Grand Bahama International Airport, which will require a major investment.

“I first came to Grand Bahama many years ago. Like many of you I have seen its ups and downs, its struggles and its needs. I also saw the hope and tenacity of the many good and talented people who live here. You have demonstrated courage and resilience. With this major investment and other investments, we are restoring the confidence of Grand Bahama. Your development is vital for our entire country. I am grateful that my government could play a role in helping to build a new Grand Bahama.”

Minister of Tourism & Aviation, the Hon. Dionisio D’Aguilar noted that the day could not come fast enough for him, with the opposition to purchase of the property by the government, even though the intention was to own it for only a brief period.  Some 18 months later, the property has been sold.

Dionisio D’Arguilar – Bahamas Tourism & Aviation Minister

He said, “As Minister of Tourism and Minister with Responsibility for this property, I am extremely excited that that the intended purchasers of this hotel are Royal Caribbean and the ITM Group.  Between them, they are well funded, bring to the table a great deal of experience in the tourism sector, and have a proven track record of successful projects. 

This hotel is to be transformed.  Hundreds of millions of dollars are to be invested into this property to refurbish/renovate/reconstruct 500 rooms in Phase One and another 500 rooms along with 500 villas in Phase Two.  Additional features will include a new casino, a spectacular water theme park and a new shopping, restaurant and retail center. 

Add to that the new cruise port that is to be built in the Freeport Harbour to accommodate three ships in Phase One and up to seven ships in subsequent phases, and one will quickly conclude that this entire project, hotel and waterpark right here where we are standing plus new cruise port, plus attractions down at the Freeport Harbour is absolutely monumental for tourism in Grand Bahama.”

Minister of State for Grand Bahama, Senator the Hon. J. Kwasi Thompson, gave welcome remarks.  Also giving remarks were Robert Shamosh, Chief Executive Officer, Holistica Destinations; Mauricio Hamui, Chief Executive Officer, ITM; and Michael Bayley, President and CEO, Royal Caribbean International.

Also, in attendance were Deputy Prime Minister and Minister of Finance, the Hon. Peter Turnquest and other Ministers of Cabinet; Members of Parliament, Permanent Secretaries, Senior Government Officials, representatives from the business community, taxi drivers, and straw vendors.

Immediately following the official ceremony, guests were treated to the pulsating sounds of a Junkanoo Rushout followed by a reception.

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Bahamas News

Fuel Pain at The Pump: Global Tensions Drive Prices Up as Bahamians Feel the Squeeze

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NASSAU, Bahamas — What should be a simple five-minute drive is fast becoming an expensive, hour-long ordeal, as rising fuel prices collide with worsening traffic congestion across New Providence.

As of early April 2026, gasoline prices across The Bahamas have climbed sharply, with motorists now paying an estimated $5.50 to over $6.50 per gallon, depending on the station and grade. The increases, seen at major retailers including Esso, Rubis and Shell, reflect a volatile global oil market driven by escalating geopolitical tensions.

The latest spike — in some cases jumping more than 50 cents per gallon within days — is being driven by uncertainty surrounding escalating tensions involving Iran. U.S. President Donald Trump has issued a direct ultimatum, warning that the United States could launch aggressive strikes on Iranian infrastructure, including power plants and key facilities, if demands are not met. While he has also expressed hope for a swift resolution, the threat of rapid escalation is already rattling global oil markets — and The Bahamas, heavily dependent on imported fuel, is feeling the impact almost immediately.

At the pumps, the frustration is real.

Drivers are now paying significantly more just to sit in traffic. Commutes that once took minutes are stretching into hour-long crawls, burning fuel with little movement and compounding the financial strain. For many residents, the issue isn’t just the price per gallon — it’s how quickly that gallon disappears.

Industry players are also bracing for impact. Higher diesel prices are expected to ripple across key sectors, including trucking, construction, and shipping — all of which ultimately feed into the cost of goods and services. In short, this is not just a fuel story; it’s an inflation story in the making.

Despite the surge, the Bahamas Petroleum Retailers Association has moved to calm fears, confirming that there is no fuel shortage. Supply remains stable, but consumers are being urged to adjust behavior — from maintaining proper tyre pressure to considering carpooling — small measures that could stretch every dollar a bit further.

Retailers, however, are not offering much comfort on price relief. While fluctuations are expected, insiders say the days of sudden price drops are unlikely in the immediate term. The “shock” increases may level off, but a meaningful decline hinges on global stability — something that currently feels out of reach.

For Bahamians, the reality is tightening: higher fuel costs, longer commutes, and a growing sense that relief isn’t coming anytime soon.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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Bahamas News

FNM’S $200 CHILD SUPPORT PLAN SPARKS DEBATE AS PLP QUESTIONS FUNDING AND SCOPE

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NASSAU, Bahamas — The Free National Movement has rolled out details of its proposed $200 monthly Working Parent Child Support Initiative, but the announcement has already ignited political debate and prompted clarification from the party.

Leader Michael Pintard said the initiative would provide $200 per month to qualifying caregivers during the first two years of a child’s life, as part of a broader push to ease the cost of living for Bahamian families.

The party estimates the programme would cost between $12 million and $14 million annually, with funding to come from reducing what it describes as excessive government spending — particularly consultancy contracts.

However, the proposal quickly drew scrutiny.

The governing Progressive Liberal Party has challenged the feasibility of the plan, questioning how the payments would be sustained without increasing the deficit or introducing new taxes. The response forced the FNM to further outline its funding strategy, emphasizing that a 21 percent reduction in consultancy spending could fully finance the initiative.

The exchange has highlighted a familiar election-season tension — bold proposals versus practical execution.

Beyond the child support plan, Pintard outlined a wide-ranging policy agenda, including:

  • Removing VAT on select essential goods
  • Constructing 5,000 affordable homes within five years
  • Cutting the country’s food import bill by half
  • Strengthening enforcement against illegal immigration
  • Reforming the nation’s healthcare system

Pintard also took aim at the current administration, accusing it of mismanaging public funds and awarding more than $400 million in contracts without competitive bidding — claims which have further fueled political back-and-forth.

“The best way to pay for high-quality public services in the long run is to have a strong, efficient economy,” Pintard said, arguing that government spending must be redirected toward ordinary Bahamians.

While supporters have welcomed the proposals as timely relief for struggling families, critics remain cautious, pointing to unanswered questions around implementation, eligibility, and long-term sustainability.

With election momentum building, the debate surrounding the FNM’s plan underscores a broader reality — Bahamians are being presented with big promises, but increasingly demanding clear answers on how those promises will be delivered.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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Bahamas News

COI UNVEILS FIRST 100 DAYS PLAN, PROMISING SWEEPING CHANGE AND BREAK FROM MAINSTREAM POLITICS

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NASSAU, Bahamas — The Coalition of Independents has rolled out its First 100 Days Plan, positioning it as a roadmap for rapid national transformation and a clear break from what it describes as the failures of the country’s two dominant political parties.

Leader Lincoln Bain introduced the plan during a recent public presentation, outlining a series of early actions his party says would be implemented immediately upon taking office.

At the heart of the proposal is a push to redistribute access to Crown land, a signature policy of the Coalition, which argues that Bahamians should have greater direct benefit from national resources. The plan also prioritizes the full implementation of Freedom of Information legislation, with Bain framing transparency as a cornerstone of restoring trust in government.

Additional focus areas include proposed reforms to the healthcare system, including improved compensation for nurses and medical professionals, and broader governance changes aimed at increasing accountability and reducing political control over national decision-making.

The Coalition has branded the plan as a historic first, describing itself as the only political group to present a structured 100-day agenda ahead of a general election.

But beyond the policy points, the messaging was unmistakable.

Bain and his team continue to urge Bahamians to move away from the traditional two-party system, arguing that both the Progressive Liberal Party and the Free National Movement have failed to deliver meaningful change despite decades of governance.

“The system is not working for the people,” has been a consistent refrain from the Coalition, which is campaigning on the idea of resetting how the country is governed.

While supporters view the 100-day plan as a bold and necessary shift, questions remain about the level of detail provided, particularly around costing, timelines, and how proposed changes would be executed within the existing structure of government.

Still, the rollout signals that the Coalition of Independents is seeking to position itself not just as an alternative voice, but as a ready governing option — one promising immediate action and systemic reform.

With election momentum building, the emergence of a defined 100-day agenda adds a new dimension to the political landscape, as Bahamians weigh competing visions for the country’s future.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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