||Last Updated: May 12, 2022 - 4:08:20 PM
COMMONWEALTH OF THE BAHAMAS
THE MINISTER FOR GRAND BAHAMA The Honourable Ginger Moxey, M.P.
UPDATE ON THE SALE OF GRAND LUCAYAN HOTEL
Press Conference at Manor House, Grand Lucayan Hotel 11th May, 2022
The Honourable I. Chester Cooper, Deputy Prime Minister and Minister of Tourism, Investments and Aviation,
Mr. Julian Russell, Chair of Lucayan Renewal Holdings Mr. Russell Urban, CEO of Electra Hospitality Members of the Press,
Ladies and Gentlemen,
Today is a huge day... a GRAND Day for Grand Bahama!
When this Davis/Cooper Administration was elected, we pledged to pay particular attention to the issues facing the people and economy of Grand Bahama Island. Today it’s Grand Lucayan, tomorrow it’s Carnival Cruise Port, and coming very soon it’s the airport and new hospital.
We understood that the people of Grand Bahama have endured much, suffered much, and want to simply see results. In other words, less talk; more action.
This Administration understood the assignment – we needed to deliver the critical needs of the island; rebuild the economy and do everything in our power to usher in a ‘new day’ for Grand Bahama Island.
Earlier this year, the Deputy Prime Minister and Minister of Tourism, Investments and Aviation the Honourable I. Chester Cooper announced our commitment to finding the right buyer for the Grand Lucayan Resort, to ensure that potential purchasers had a clear vision for the property, significant financial resources, and a shared vision for tourism development on our island.
Ladies and gentlemen, I’m happy to report that this Davis/Cooper Administration executed the assignment! In Electra, we have found the right buyer, with the right vision, plus the right resources and who we believe is the right fit for Grand Bahama!
On many occasions you would have heard me refer to the new unit of the Ministry for Grand Bahama called ‘Collab: Partnerships for Development’. This unit partners with NGO’s, businesses, other government agencies and the community at large to assist with addressing the basic needs of residents and for the growth and development of Grand Bahama Island.
As stated in ‘Our Blueprint for Change’, our government is committed to greater equity and opportunities for Bahamians in tourism. I am particularly excited about Electra’s shared passion and commitment to social responsibility. And, as the Deputy Prime Minister would have indicated Mr. Russell Urban and his team have committed $5M in partnership with Collab and the Tourism Development Corporation to support the tourism product and Bahamian entrepreneurs.
The new owners have also committed to the donation of the furniture from the property to residents, throughout the island of Grand Bahama, and my Ministry will lead this distribution.
It warms my heart that Electra gets it! They recognize the role of corporate citizens, and the need for a holistic approach to enhancing communities where they do business, and appreciates the significance of this property to the people and economy of Grand Bahama. To some, it’s just a resort... to us, it carries the memories of the glory days and the boom and bust. But it also carries hope for the future; the many opportunities for our people, and finally the realization of a clear vision for this property to catapult Grand Bahama as a preferred destination of The Bahamas.
In ‘Our Blueprint for Change’, Grand Bahama is poised to become the ‘Home of Events and Entertainment’. This announcement here today falls in line with this vision. With a focus on group business, executive retreats and education, world- class events, with 3 branded properties, 4 to 5-star amenities, world-class golf, casino and marina operations, exquisite dining experiences, and the spill over effects to this entire area, including the Port Lucaya Marketplace and its impact to the many vendors... we are heading in the right direction!
Today, I want to say a special thank you to the fantastic Board of Lucayan Renewal Holdings led by Chair Julian Russell, Deputy Chair Cassietta Pelecanos, Directors Carla Cleare, Merrit Storr, Ernie Cambridge, Stuart Bowe and Ed Rahming.
I would also like to say ‘thank you’ to our Deputy Prime Minister and Minister of Tourism, Investments and Aviation, The Hon. I. Chester Cooper for skillfully negotiating this matter and for “getting a much better deal for the people of Grand Bahama”.
And of course, thank you, thank you, thank you, to our Prime Minister and Minister of Finance, The Honourable Philip Davis for charting the course for this New Day Administration, as we recover, rebuild and revolutionize Grand Bahama Island.
I am so excited about the road ahead and the future of Grand Bahama. Russell, I look forward to continuing to collaborate with you and your team on joint initiatives that will promote our island and revitalize our economy.
So ladies and gentlemen, today, we are incredibly happy to announce Electra Hospitality as the new buyers of the Grand Lucayan Resort, and we welcome them as stakeholders, neighbors and partners of the soon-to-be revolutionized Grand Bahama Island!
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