Flipping Grand Bahama

Grand Lucayan Resort The Hutchison Group of Companies and primarily their land holding company CK Holdings, has initiated a bid process for the Grand Lucayan Resort on Grand Bahama Island and I shall speak to this more succinctly on these developments in my remarks on the Hawksbill Creek Agreement. Memories Memories enjoyed a near 90% occupancy in 2014 and 2015, prior to feeling the impact of a much weakened Canadian economy compounded by its dollar being sharply devalued against the US dollar and by extension Bahamian dollar. This development dealt Memories a 30% decline in this past winter, i.e., December 2015through April 2016. Sunwing Group's strong focus on the US markets, through its Vacation Express subsidiary beginning late May, is already resulting in business rebounding to last year’s level and projected to exceed summer/fall of 2015. The Group expects to regain and maintain its 500 direct employees along with further indirect employment stimulation estimated as a