By the Caribbean Journal staff
The Bahamas is “well advanced” in negotiations to bring a Four Seasons resort to Exuma, according to Prime Minister Perry Christie.
“We are well advanced in our negotiations with the Samiento and Four Seasons interests for a Four Seasons branded luxury resort also here in South Eleuthera,” Christie said at the 2014 Eleuthera Business Outlook conference.
Christie said his professional advisors would meet again next week with Four Seasons representatives “with a view to wrapping up the terms of a Heads of Agreement for approval by the National Economic Council,” Christie said.
A potential deal on a Four Seasons-branded property on the island was first reported two years ago, in partnership with Colombian billionaire Luis Sarmiento.
If realized, the property would likely be located at the Cotton Bay development, a mixed-use project that has completed 75 percent of its first phase and invested nearly $90 million.
Cotton Bay already plans to have two oceanfront hotels managed by Noble House Hotels and Resorts.
Four Seasons previously operated a resort on the Bahamian island of Great Exuma, which is now a Sandals branded resort.