By the Caribbean Journal staff
As part of a wider push to revive the island of Grand Bahama, the government of The Bahamas has announced plans to purchase the Grand Lucayan Resort.
Bahamas Prime Minister Dr. Hubert Minnis said the government had made a deposit of $10 million for the purchase of Grand Bahama’s most famous resort from current Hong Kong-based owners Hutchinson Whampoa.
“I have just recently made a deposit for the purchase of this hotel,” Minnis said. “We have signed the sales agreement and we hope to complete the purchase of this hotel within the next [month].”
Minnis cautioned that “it is not our intention to run a hotel.”
“The Government cannot run a hotel,” he said. “But it is our intention to save the jobs of the 400 Grand Bahamians who work in this hotel.”
Minnis said the government would be merely “holding” the property until it was ready to be sold again.
The Grand Lucayan property, which has held several different names in its many years in Grand Bahama, also includes the 196-room Lighthouse Point wing, which had been recently been run as an all-inclusive.
It additionally includes the 513-room Memories resort, which is also currently closed.
Lighthouse Point has been operating and is likely to remain open, according to Minnis.
Minnis said he would outline a full, detailed report on the purchase of the property in September.