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$100M purchase and $300M in Renovation gone, Grand Lucayan hotel deal goes bust

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By Deandrea Hamilton and Shanieka Smith

Editorial Staff

 

A $100 million purchase offer has been taken off the table and with it goes up in smoke a once touted $300 million renovation and construction plan for the stunning and beleaguered mega hotel property in Grand Bahama, the Grand Lucayan.

After being chosen over the applicants for the purchase of the Grand Lucayan, Electra America Hospitality Ltd (EAHL) is unable to finance the deal and just like that, Grand Bahama is left with no buyer for the beleaguered resort in Lucaya.

The EAHL said that due inflationary pressures, the cost of construction would be too high.  As a result the closing deadline which was set at November 15, 2022 has been canceled and negotiations with the EAHL have come to a close.

Julian Russell, Chairman of the board of Lucayan Renewal Holdings Limited, disclosed that another “well-capitalized entity” has since shown interest and the LRH board is now in discussions with them.

Many Bahamians, however, see the deal with EAHL falling through as a setback and are concerned about the future of the resort and the island.

Several delays made this eventuality one which is not completely out of the blue.  Electra America was very concerned about a defunct airport and low air arrivals.

Grand Bahama Chamber of Commerce’s President, James Carey is skeptical about the imminence of the next deal and conveyed that the Grand Bahama business community needs more reassurance on the matter.  He said that while details of negotiations may be kept private, more information can be revealed.

Acting Prime Minister Chester Cooper in a statement did not give in to the request for more insight, saying only that he remains confident that a deal for the Grand Lucayan can be secured.  Cooper, who is the minister responsible for tourism, aviation and investment also noted that the government is committed to doing what is right for the Bahamians.

Bahamas News

FBI and Bahamas looking into woman’s death  

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Dana Malcolm  

Staff Writer  

 

 

#TheBahamas, March 17, 2023 – The FBI is investigating a woman’s ‘suspicious’ death on a Carnival Cruise ship in February.  The unnamed woman and her husband boarded the Carnival Sunshine on February 27th, for a trip to the Bahamas, but she was dead before they arrived in the port in The Bahamas.

The FBI said Carnival’s team had administered life saving measures when the woman was reported unresponsive, but they were unsuccessful.  The body and the woman’s husband were released to the Bahamian authorities when the cruise arrived in the country.  

In a statement shared with US media houses, Carnival Cruises claimed the death has been a natural one.  The Nassau Guardian said a source told them the police findings had concurred with that assessment saying it was a “normal sudden death of a tourist who wasn’t feeling well.” 

The FBI was waiting for the cruise and when it got back to South Carolina on March 4th, they immediately boarded and began to investigate the room based on ‘evidence of a crime.’  The FBI also searched the couple’s car.   

No updates have been shared to contradict the currently established cause of death.   

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Bahamas News

Why Sargassum Matters

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Dana Malcolm

Staff Writer 

 

 

#TheBahamas, March 17, 2023 – “If you don’t like it, go to another beach!” Is what Aaron John, an Education Officer from The Bahamas National Trust jokingly tells our news team about sargassum blooms; his quip, motivated by the necessity of nature when pit against the notion that there is a real threat when the stinky seaweed makes its annual appearance. 

John can admit, he says, that Sargassum isn’t very pretty but life isn’t all about aesthetics and in this instance that ugly patch serves a purpose. 

“We love our sandy beaches, but in order to keep them we need Sargassum. When storms come, they wash away all the sand off the beach but sargassum acts as a mulch to protect the sand from water erosion. It doesn’t look good, it doesn’t feel good but we need it.”

He said it also provides a habitat for small crustaceans, crabs, and insects that are all necessary to our ecosystem and islanders have  found use for the weed.

“Historically, (in The Bahamas) we have been using sargassum as fertilizer, especially in the family Islands as far back as I know,” he said. “Birds don’t go on the beach unless there is Sargassum and what do they do? they feed – it’s beautiful.” 

He encouraged residents to just leave it be if they came across it.

Sargassum isn’t harmful to humans, except for people with respiratory issues who may find the rotten egg smell triggers asthma. Despite this, it’s not advisable to walk through the weeds which may hide sharp rocks and bottles or vulnerable animals.

Experts say Sargassum blooms began to increase in size around 2011 and have continued to get bigger and bigger since. This year‘s bloom is around 5000 miles long and 300 miles wide and visible from space.

“I know it’s not a general outlook, but I would like to change the perspective on sargassum,” John said, pointing out The Bahamas National Trust is actively working to decrease alarm over the less worrisome events like sargassum as it raises the profile on the environmentally devastating. 

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Bahamas News

Lease agreement approved for diaspora office     

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Dana Malcolm  

Staff Writer 

 

 

#TurksandCaicos, March 17, 2023 – The Turks and Caicos’ Bahamas Diaspora Office is moving closer and closer to opening day, following the Cabinet’s approval for the signing of a lease agreement.  

The lease will be signed with FINCEN ltd in the Bahamas.  Several weeks ago, Arlington Musgrove, Minister of Immigration confirmed to our news team that the location had been found and was being finalized; now a lease is approved at the Cabinet level.  

The interest in the TCI from TC Bahamians was evident in the diaspora meetings held in early February.  The two meetings held in Nassau and Grand Bahama were completely full and over-subscribed by hundreds.  

It’s interest which the Government hopes will translate to real life population growth, bolstering the local population before the native population ‘goes extinct’.  

The Opposition PDM is on the record with what it feels is a far more viable solution to a dwindling native population; seek out the country’s own citizens and bring them back home. 

Cabinet did not state when the office will open. 

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