Bahamas Learns of Royal Caribbean Investment Plan for Paradise Island, Shares to be offered

By Rashaed Esson

Staff Writer

#TheBahamas, March 16, 2023 – Royal Caribbean International is offering Bahamians a 49 per cent piece of a new investment planned for Paradise Island; it will not only mean a new amenity for the country but equity up for grabs says Michael Bayley, RCI’s CEO.

The beach club, announced with a 2025 opening date is expected to create hundreds of jobs for Bahamians during its construction. It will be in collaboration with the Bahamian Government as well as a public-private partnership, hence the 49 per cent cut that will be available to the Bahamian population.

Additionally, local business and entrepreneurs will have an added venue for enhancing visitors’ experience in the destination which attracts upwards of 30,000 cruise passengers a week.

The Royal Caribbean Cruise Line beach club is set to have amazing 21st century private cabanas, and gorgeous swimming pools in addition to a genuine experience of the unique Bahamian culture.

Micheal Bayley, the President and CEO of Royal Caribbean International, in a statement, highlighted a successful partnership with The Bahamas. He also shared his vision for the beach club and The Bahamas’ Tourism Industry.

“The Bahamas has been a phenomenal partner since the very start, when they became our first port of call more than 50 years ago. As we continue to bring millions of visitors to experience attractions throughout Nassau each year, The Royal Beach Club at Paradise Island is the next bold adventure in Royal Caribbean’s commitment to both increasing tourism in The Bahamas and delivering memorable vacations to our guests,” he stated.

Still the idea of this new development has been met with consternation.

In an effort to allay fears, Deputy Prime Minister Chester Cooper said: “The government is satisfied that it has addressed previous objections to the project by ensuring much greater Bahamian participation at all phases of the construction and in the ongoing operations.”

Strong agitation is coming from political watchers who remind that the Philip Davis administration promised RCL would not qualify for Crown Land, from Save the Bays who decries the environmental impact and loss of more Crown Land to a foreign entity and Paradise Islands most expansive resident, Atlantis Resort which called the approval, “premature.”