Change is inevitable!

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With the number of things going on in Grand Bahama one can only think that it is true, change is inevitable. Many times we do not like change but sometimes its necessary to take us from where we are to where we want to be.

 The big news this week is the proposed sale of the Grand Lucaya Resort.

 During the late 1990s, the three hotels on the Lucayan Beach stretch - the Lucayan Beach Hotel, the Atlantis Beach Hotel and the Radisson were losing their lustre and two of the three were owned by the Government of The Bahamas. In a bid to get the government out of commerce they offered the hotels to the newest conglomerate coming in and as many were told, reluctantly  they accepts the hotels. 

 They redid the entire strip with all three hotels including the implosion of the Atlantic Beach Hotel which was rebuilt from nothing and given its new shape. 

 Was it a success? Many said no but the news of its being put on the auction block and some saying it has already sold to Mediterranean Shipping Company but none the less .. the news is shocking.  

 The release from international Public Relations Firm, PRWire issued this release: HVS Capital Corp. today announced that the Grand Lucayan Resort complex is being sold in a Sealed Bid Auction. The 409-acre resort is the largest on Grand Bahama Island and the third largest in The Bahamas. The owner, a subsidiary of Hong Kong-based Cheung Kong Property Holdings Limited, has engaged HVS Capital Corp. to act as advisor in the sale. The seller's preference is to sell the Grand Lucayan Resort complex as a single transaction. However, bids for individual assets will be considered. There is no reserve price. Additionally, seller-provided purchase-money financing may be available to appropriate bidders. The deadline for submitting bids is June 10, 2016.

 While the Prime Minister Perry Christie explained during the Grand Bahama Outlook that "Following one such discussions, (ecommendations arising from the Hawksbill Creek Review Committee’s extensive Report and Recommendations) Cheung Kong Property Holdings Limited, a part of the Hutchison Group of Companies, recently placed for sale their Lucayan Resort complex with a bidding deadline of June 10, 2016. The process is being handled by the internationally well-known HVS Capital Corporation."

 Very interesting. And the Prime Minister added, "we are told there has been a positive and immediate response to those properties being placed (on auction). We see this as a positive step forward as we expect major well-known hotel/casino investors and operators to be attracted and bring about a renaissance in Grand Bahama Tourism."

 More changes on the horizon as the employees of the hotel are about to strike.

 Well the more things change... the more they stay the same. 

 We do hope that his change will be positive for all concerned.


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