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By NEIL HARTNELL
#Tribune Business Editor
#nhartnell@tribunemedia.net
#A 20-year extension of Freeport’s expiring investment incentives should only be granted if the Grand Bahama Port Authority’s (GBPA) owners both agree to sell and give the Government an equity stake in the company, the latter’s advisers have recommended.
#Prime Minister Perry Christie yesterday said these conditions were part of the ‘trade-off’ suggested by the Government-appointed Hawksbill Creek Agreement Review Committee, which is proposing fundamental changes to Freeport’s governance and regulatory regime in return for maintaining the taxation ‘status quo’.
#Addressing the House of Assembly, Mr Christie detailed a 12-strong package of recommendations submitted to his administration, which include defined timelines for action by the GBPA and Grand Bahama Development Company (DevCo).
#The Committee has recommended that “within one year” of Freeport’s tax breaks being extended, the Hayward and St George families must exit the GBPA by selling “to an international investor with the capacity to purchase majority ownership” and ensure it meets all its obligations under the Hawksbill Creek Agreement.
#It has also called for DevCo, within six months of the extension, to submit a “development masterplan” for its estimated 70,000-acre landholdings, together with proof it has the necessary financing to implement this vision.
#The Hawksbill Creek Agreement Review Committee’s recommendations will likely increase the pressure on the GBPA’s two ownership families to find a buyer that meets the Government’s requirements.
#The proposals come after a year during which a renewed legal war over the Hayward family estate, sparked by the removal of two trustees, thwarted negotiations with two world-leading asset managers - BlackRock and Carlyle - over the GBPA’s sale.
#BlackRock, with $4.5 trillion in assets under management, and Carlyle with some $203 billion, would likely have met the Government’s criteria as plausible GBPA buyers. Both, though, are understood to have walked away from discussions.
#Mr Christie yesterday argued that the Review Committee, together with its consultants, McKinsey, and private sector and community stakeholders, “strongly believe that Freeport needs new investors with capital and expertise to execute a vision that will lead to growth and prosperity for Grand Bahama”.
#The Prime Minister also indicated that the Government could not sit idly by “hoping that someone will come along, some time, from wherever” to purchase the GBPA - a possible nod to efforts to revive Hutchison Whampoa’s interest in a potential acquisition.
#The Hawksbill Creek Agreement Review Committee, headed by ex-Cabinet minister and senator, Dr Marcus Bethel, then called for the Government to receive an unspecified equity stake in the GBPA and its Port Group Ltd affiliate in return for the incentives’ extension.
#Mr Christie said the size of the Government’s ownership interest, according to the Committee, would be determined by “the value of the concession extensions, the value of any unmet obligations under prior extensions, as well as any obligations of the GBPA not met under the Hawksbill Creek Agreement”.
#He defined these “unmet obligations” as any annual deficits that had resulted from Government spending in Freeport exceeding revenues generated by the city - a gap that the GBPA is obligated to fill under the Agreement.
#Freeport’s outstanding maintenance needs would also be included in such a calculation, according to Mr Christie, which would be determined by an “independent audit” conducted by an accounting firm selected by both the Government and the GBPA.
#Linked to the Government obtaining an equity stake in the GBPA, the Committee has also recommended that it gain Board seats at both the Port and its Port Group Ltd affiliate.
#Mr Christie twice stated that the Government was “not interested” in taking over the Port Authority’s management, but the committee’s proposals again highlight its desire to reclaim regulatory and governmental authority over Freeport.
#For in an accompanying set of recommendations, designed to improve Freeport’s investment climate and competitiveness, the Committee recommends that “certain regulation currently overseen by the GBPA” be moved “to independent public bodies”.
#This, it suggests, would see the likes of the Utilities Regulation and Competition Authority (URCA) take over responsibility for the likes of energy and telecommunications in Freeport. The Department of Environmental Health and other government agencies would also assume their relevant responsibilities in Freeport.
#This proposal, in particular, is unlikely to be supported by Freeport residents, most of whom are likely to be dreading the prospect of the Government taking over from what is perceived to be a relatively efficient private sector entity.
#The Government has yet to decide whether to adopt all, or some, of its committee’s suggestions, but Mr Christie made clear his belief that the Government needs to have an equity stake in the GBPA, plus Board seats, so it can have some influence and control over Freeport’s future development.
#“To bring long-term certainty and confidence to investors and the public, the Government, although not interested in management, must have a seat at the table of the GBPA, and put measures in place that would not allow internal shareholder fights,” the Prime Minister said.
#That is a reference to the five-year legal battle between the Hayward and St George families, which was settled in 2010.
#“It is the considered view that the presence of the Government of the Bahamas would be able to provide the necessary balance and minimise conflict that has existed in the past between the shareholders,” Mr Christie added, alluding to the negative impact the previous dispute had for Freeport and the wider Grand Bahama economy.
#The Prime Minister also described the GBPA and Freeport’s 60 year-old governance model as past its sell-by date, suggesting it was riven with potential ‘conflicts of interest’ and not suitable for an increasingly competitive international economic environment.
#“It is now 60 years since the Hawksbill Creek Agreement and enabling legislation came into being,” Mr Christie told the House of Assembly.
#“The world and the Commonwealth of the Bahamas have changed a lot since then, and so have competition and international best practices.
#“No longer can an entity like GBPA be licensor and licensee, regulator and investor with no rights of appeal by licensees, without inherent conflicts and varying levels of dissatisfaction. What may have served Grand Bahama well in the past, it is the view of the McKinsey group and multi-talented differing sectors of the committee that it no longer obtains.”
#This reflects the view that a privately-owned entity such as the GBPA, with quasi-governmental powers over an entire city of geographic location, is incompatible with the need for sovereign governments to exercise control over all their territory.
#“We believe these measures will also expedite decision-making, create a dynamic, professional world-class promotional entity ,and ensure an overall environment that keeps Grand Bahama on the cutting edge of competition and ensure compliance with world class best business practices,” Mr Christie said of the Committee’s recommendations.
#“I believe we can collectively, between the Government and private sector, make Grand Bahama soar again to new heights of economic and social development.”
Optimism for Grand Bahama Summer Program
GRAND BAHAMA ISLAND, MAY 7TH, 2015- Coming off a favourable first quarter for 2015 and perhaps the best hotel occupancy in 11 years, the Grand Bahama Island tourism sector anticipates continued growth in the number of visitor arrivals over the second quarter as well. Resort operators are now focused on anticipated inflows from eight USA gateways, commencing May 21st and continuing through October 26th, 2015.
Tourism partners are reportedly delighted that second annual Summer Program promoted under the umbrella of United States Tour Operator Vacation Express is projecting very strong advance bookings for Grand Bahama’s All-inclusive and EP resorts.
Chairman of the Grand Bahama Tourism Board, Russell Miller while reflecting the overall hotel occupancy of 68.76%, for the first quarter, said “the advance bookings for the summer program have already exceeded 10,000 passengers, and has surpassed last year’s total bookings.”
The Sunwing Airlines new Boeing 737-800, 189 seat jet aircraft will depart from Baltimore, MD, Cincinnati and Columbus, OH, Houston, TX, Nashville, TN, Philadelphia and Pittsburgh, PA, with 4 and 7 night rotations from Newark, NJ. The larger aircraft has an increased seating capacity of 26%.
The Sunwing Travel Group, which includes Vacation Express and Grand Celebration are the leading suppliers of stopover business to the island. The Sunwing Travel Club delivered 20% of stopovers followed by Grand Celebration at 12% an increase of 8.27%; followed by Vacation Express 7% and Expedia 6%. Fifty percent of the hotels bookings reflect corporate sources, meetings and conventions, groups and business travel.
In recognition of the need to improve the delivery of satisfying vacation experiences within and around the resort premises and tourist activities, The Ministry of Tourism in partnership with private sector organizations has increased the number of participants in customer service skills development training programs.
“This summer, our visitors can expect to participate in more than ten unique annual cultural events that are being held throughout the island, at locations outside of the resort environment”, said Director of Tourism for Grand Bahama, Betty Bethel.
“These special cultural events vary in type and presentation, including but not limited to traditional sloop sailing competitions during the Grand Bahama Regatta in June, the authentically Grand Bahamian Goombay Summer Festival, July, the Grand Bahama Gospel Fest and the 42nd Annual McLean’s Town Conch Cracking Festival in October.”
The advertising and promotional campaign to support the Summer Program will consist of online and off-line media placement in combination with in market sales promotions in gateway markets, June 16 – September 21. Also on-island familiarization visits for more than 250 partners from the travel agent/trade community, over the same period, will be hosted by participating resorts.
Special emphasis will be placed on the vertical markets, including wedding and honeymoon and meeting planners.
Recapping the destination performance from 2012 to 2014 Deputy Director-General of Tourism, Ellison “Tommy” Thompson reported that, “In 2013, 80% of the stopover visitors to Grand Bahama were from the United States, 8% were from Canada, 7% were from Europe, 1% were from Latin America and 1% were from the Caribbean. By the end of 2014, only 73% of the stopover visitors to GBI were from the USA and 16% were from Canada. Stopover arrivals to Grand Bahama Island grew by 27% between January 2014, to December 2014.”
New Security Measures at U.S. Embassy Expected to Impact U.S. Visa Applicants
On May 15, new security measures will be implemented at the U.S. Embassy in Nassau that are expected to impact the U.S. visa application process. To better streamline security screening, the U.S. Embassy will no longer provide storage services for restricted articles that are not allowed to be brought into the building. Under the new regulations, U.S. visa applicants who arrive at the U.S. Embassy carrying restricted items will be refused entry and risk missing their visa appointments.
Restricted articles include electronic devices such as mobile phones, car alarm remotes, tablets, MP3 players, notebook computers, headsets and any device with a power plug or battery. Other items not permitted include cigarettes, lighters, matches and any article that could be used as a weapon.
“Although this new security protocol may be an inconvenience during the initial stages of implementation, it will eventually streamline the security screening process and provide for speedier entrance and exit from the embassy,” said Consular Chief Nathan Hara. “In this way, we will be able to reduce wait times while serving more customers during the busy summer vacation travel season ahead.”
A list of restricted articles that cannot be brought in to the U.S. Embassy can be found athttp://nassau.usembassy.gov/restrictedarticles.html. For more details about how to apply for a U.S. nonimmigrant visa, go to http://nassau.usembassy.gov/proceduresapply.html.
Statement by U.S. Chargé d’Affaires Lisa Johnson on Energy Reform
The U.S. Embassy in The Bahamas applauds Deputy Prime Minister Davis’ announcement that the government has agreed to engage in final negotiations with U.S.-based PowerSecure on the content of an agreement to restructure and manage the Bahamas Electricity Corporation.
We are confident that PowerSecure’s proposal offers innovative management strategies that will provide the efficiency and cost-savings required to advance The Bahamas’ energy reform agenda and that PowerSecure’s dedication to emerging technologies will unlock additional opportunities for renewable energy in The Bahamas.
PEOPLE-TO-PEOPLE VOLUNTEER DRIVE
“Enhancing the Visitor Experience!” TAINO BEACH, GRAND BAHAMA ISLAND, APRIL 22, 2015- The Ministry of Tourism’s People-to-People Department is taking hospitality to another level.
In an effort to grow its hospitality reach and improve visitors’ experience, the Ministry of Tourism, Grand Bahama Island is holding a volunteer drive and reception on Tuesday, April 28th at Junkanoo Beach Club, Taino Beach from 5:00 p.m.-7:00 p.m.
The People-to-People program gives Bahamians the opportunity to be ambassadors and most importantly, hospitable hosts to visitors seeking an authentic Bahamian experience.
People-to-People Manager Bernadette Bastian urges Bahamians not directly involved in the tourism industry to take advantage of the opportunity.
Bastian says the program’s ability to leave an impact on visitors is one of the best forms of advertising.
The Ministry of Tourism invites all interested Grand Bahamians to the reception and to register for the People-to-People Ambassador program.
Volunteers are invited to a special training on Wednesday, April 29th from 6:00 p.m.- 9:00 p.m. at the Ministry of Tourism.
For more information contact Rosalyn Pinder at the Ministry of Tourism on 350-8600 or rpinder@bahamas.com.
Get Ready For A Battle - Saltwater World Championship Battle In The Bahamas
PORT LUCAYA, Grand Bahama Island – March 16, 2015… The Extreme Kayak Fishing Tournament series will be heading to The Bahamas for its second annual Battle in The Bahamas. This two-day kayak fishing tournament, scheduled to take place April 23rd-26th, 2015 will lure in anglers and their families from all over the world. Grand Bahama Island will play host to this group of skilled and courageous fishermen as they battle each other and Mother Nature for a chance to win over $30,000.00 USD in cash and prizes with a 1st place prize of $10,000.00 USD.
The tournament will help raise money for Grand Bahama Children’s Home and will offer free entertainment, food, drinks and lots of fun for all the land-loving family members and friends. But let’s face it, they’re in The Bahamas and finding something to do won’t be an issue.
As Richard Treco, Manager, Diving and Boating Markets, Bahamas Ministry of Tourism commented, “Although the tournament is certainly a fabulous event, you can’t overlook the fact that, hey you’re in The Bahamas”, elaborating further by saying, “We encourage everyone to get to know us more and what The Bahamas has to offer, and that is exactly why a fishing tournament like this exists nowhere else in the world!” Suffice it to say, this is one business trip the family won’t want to miss out on.
Room accommodations will be provided by the Flamingo Bay Hotel and angler packages include round trip cruise ferry service on the Balearia Ferry Express for themselves and their kayak. Additionally, transportation to the hotel is also included as well as a surprise goody bag from the tournament’s many sponsors including Under Armour, TurboUSA, Sands, Adrenaline Fishing, Hobie, YakAttack, NauticalVentures and Costa.
The fun begins April 23rd at Taino by the Sea, located at Flamingo Bay Resort and Marina in Port Lucaya, Grand Bahama Island. Interested attendees should check out www.extremekayakfishingtournament.org for more information and registration. See you there
New non-stop service to Grand Bahama, easy, affordable and convenient
FORT LAUDERDALE, FL, March 13, 2015 –The Islands Of The Bahamas has successfully completed a Sales and PR Mission across the U.S. informing all of the ease, affordability and convenience of travelling to the Island of Grand Bahama to experience an unlimited array of activities; shopping and casino gambling or relaxing on one of the most beautiful beaches in the world.
A team including staff of the Bahamas Ministry of Tourism, both U.S. and Grand Bahama based; Grand Bahama Island Tourism Board and partners from across the spectrum of Tour Operators, Airlines, ground transportation and activities, recently visited major cities across the U.S. beginning in the North East and ending in Nashville, TN. The message was Grand Bahama is “GRAND “and with new direct service on Sunwing Airlines packaged by Vacation Express, the opportunities to get to the Island has been made much easier.
“Grand Bahama is one of our country’s most exciting and adventurous destinations,” the Director General, Bahamas Ministry of Tourism, Mrs. Joy Jibrilu, has said. “The Island has so much to offer especially with its myriad of eco-tourism attractions, its pristine beaches that goes on for miles, world-class resorts and great shopping. We are so glad that with these packages through the Vacation Express program, greater numbers of persons from across the United States will get the opportunity to visit and experience for themselves this GRAND destination.”
The new non-stop services will operate between May and October of this year, with dates varying from one city to the other. The Canadian based, Sun Wing Airlines will be used to provide air on their 737-800 jet series. The weekly schedule will allow for easy 4 night/5 day getaways to Grand Bahama from New Jersey, Philadelphia, Cincinnati, Columbus, Pittsburgh, Baltimore, Nashville and Houston. Packages being offered by Vacation Express includes 4 night accommodations, airport transfers and in some cases all-inclusive packages (including meals and drinks). Road shows covered all of the aforementioned cities except Houston; with an additional stop in the city of Atlanta where travel agents and the media were told about the daily and convenient non-stop service out of Atlanta via Delta Airlines.
In spite of record chilly temperatures that has plagued America's eastern seaboard this winter and was in full effect during the three week Sales and PR Mission, Travel Agents packed venues in the East and Midwest cities to hear about the sun, fun, adventure and excitement of The Islands Of The Bahamas and Grand Bahama Island in particular. In addition to the Seminar/Trade Shows for agents, the Public Relations team through appearances on television and radio, and interviews with magazines and local newspapers, informed consumers in each of the cities of the great vacation opportunities.
Over the course of the three-week mission, temperatures in the cities dipped in the teens and even in some cases to single digits wind chill factors. Jennifer Gardiner-Bannister, Bahamas Tourism, Area Manager for the Mid-Atlantic Region, told a group of agents in the Northeast that, "Your presence here tonight despite the extreme cold temperatures outside, is an indication to us that you are truly interested in learning about what The Islands Of The Bahamas has to offer you and your clients."
Gardiner Bannister, organized the series of Seminar/Trade Shows across the U.S. and the current U.S. based, leader of the Bahamas Sales team, Mrs. Valery Brown-Alce attended the Seminars in both Jersey and Philadelphia. Other members of the road team included, Edward Archer, General Manager, South Eastern Region; Sanique Culmer, Wendall Saunders and Doria Forbes, all representing Grand Bahama Island; Public Relations team, Mikala Moss, Brook Sherman-Grant and Jeannie Gibson and Grand Bahama Island Tourism Board, Donna Munroe-Isidora. Partners taking part in the road show in various cities included representatives of Vacation Express, MLT Vacations and Mark Travel - tour operators; Forbes Charter Service (ground transportation), Underwater Explorer’s Society UNEXSO (Dolphin Programs), and the Grand Lucayan Resort, Grand Bahama;
Full of history and charm, Grand Bahama Island is a complete vacation destination. Some of the island’s settlements, such as Pinder’s Point, Russell Town and William’s Town serve as cultural hot spots for visitors. And if you’re looking to tour some natural surroundings, feel free to explore the island’s three national parks, two of which are home to a large number of birds. For shopping the Port Lucaya Marketplace and Marina features a collection of island-style buildings on the waterfront, and is filled with shops, restaurants and bars as well as nightly live entertainment.
Vacation package deals to Grand Bahama Island start at $379, including non-stop flight, hotel and taxes. Customs pre-clearance takes place in Grand Bahama Island so passengers arrive back to their city just like a domestic flight. The flights depart on a back-to-back basis allowing for four night packages that leave on various days of the week, however, If vacationers are interested, eight night packages can also be arranged. Information is available at www.bahamas.com/gbiflights or through local travel agents.
To advertise in our weekly newscast we are offering an introductory rate of $400 per month if you sign a six month tract and payment is received at the beginning.
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