bahamas royal caribbean destinations
The Grand Lucayan.
News

Royal Caribbean Is Buying the Bahamas’ Grand Lucayan Resort

By: Caribbean Journal Staff - March 31, 2019

By Dana Niland
CJ Contributor

Grand Bahama’s biggest resort is being sold — to a unexpected buyer.

Cruise giant Royal Caribbean International, in a joint venture with Mexico’s ITM, has signed a letter of intent to purchase the Grand Lucayan Resort.

The deal is expected to transform the resort and develop the harbor in Freeport into a destination product centered around water-based adventure theme parks, according to the government of The Bahamas.

The move comes less than a year after the Bahamas’ government purchased the Grand Lucayan from former owner Hutcinson Whampoa, pledging to save the jobs of the nearly 400 Bahamians who worked at the property “until it was ready to be sold again.”

And that’s precisely what the government did.

“We have done what we said we would do – in the face of much criticism the Government of The Bahamas purchased the Grand Lucayan Resort for $65 million dollars and we said that we would hold it for the shortest period of time and sell it for $65 million dollars – and we have done exactly that,” said Bahamas Tourism Minister Dionisio D’Aguilar.

“I am pleased to announce to the people of Grand Bahama and to the entire Bahamas that the much-anticipated sale of the 217-acre Grand Lucayan resort has finally been agreed upon,” added D’Aguilar. “The development that will roll out in Grand Bahama over the next 24-36 months will go far in restoring the island’s economy to its former glory days.”

bahamas royal caribbean

The Grand Lucayan.

Bahamas Minister of State for Grand Bahama Kwasi Thompson said the first phase of the new project would entail a $195 million investment, including the $65 million purchase price.

The plan is to both redevelop Freeport Harbor and transform the Grand Lucayan into a theme park that includes a five-star hotel, along with dining, gaming and entertainment options.

“The redevelopment of Freeport Harbor is anticipated to include significant increase in cruise ship arrivals, bringing an additional approximately two million passengers annually, with the addition of multiple cruise lines calling on Grand Bahama,” Thompson said.

In a statement, Royal Caribbean said the decision like a “perfect fit.”

“This is an incredible project and I want to thank the Bahamian Government for giving us this opportunity in Grand Bahama,” said Russell Benford, vice president of government relations for the Americas at Royal Caribbean. “We are honored to have been chosen from some really great people and companies around the world for this project.”

“We understand what Grand Lucayan means to the Government of The Bahamas and to the people of Grand Bahama and so you have our commitment that we will do this project right and we will do right by the government and the people of The Bahamas,” he said. “We build spectacular world class products and we will bring that same excellence and dedication here to this project in Grand Bahama.”

The move is being undertaken in a venture with ITM, a Mexican travel giant behind several major cruise ports in the region, including Costa Maya and the Port of Roatan in Honduras, among others.

The move also reinforces the Bahamas’ push to solidify its position as a global leader in the cruise industry, coming a month after the announcement of a high-profile plan to transform the Port of Nassau.

Popular Posts best caribbean restaurants

The 50 Best Restaurants in the Caribbean - 2025

No region in the world has a more diverse or dynamic culinary continuum than the Caribbean. Just about every cuisine on earth is represented, often in wonderfully, intoxicatingly fused expressions. Across the breadth of the Caribbean Basin, you will find […]


American Airlines Is Launching Flights to an Uncrowded Caribbean Island With White-Sand Beaches, Bonefishing and a New Luxury Resort

american airlines caribbean island south

There are white sand beaches. There is abundant bonefishing. But the biggest thing about the island of South Caicos in Turks and Caicos is that indescribable feeling of romance, of adventure. The way you feel when you really travel far […]


The Southern Corner of This Caribbean Island Is Filled With Endless Beaches, a Boutique Resort and a Spirit of Adventure    

eleuthera caribbean island

You can get lost out here. There are nearly 4,500 acres of Bahamian frontier here, filled with casuarinas, empty trails and secluded white-sand beaches. Take a golf cart, or a bicycle or, if you’re daring, just a pair of running […]


Related Posts nassau cruise port

The Nassau Cruise Port Is Putting the City’s Iconic Straw Market in the Spotlight 

It’s not just a market. Not just a collection of vendors and artists. Nassau’s legendary Straw Market is a living, breathing symbol of the creativity of The Bahamas.  And now the city’s cruise port is putting the Straw Market back […]


Antigua and Barbuda’s Sizzling Food Scene Has Another Must-Visit Event: Culinary Month  

antigua caribbean island

Antigua and Barbuda’s food scene is sizzling right now, and the destination’s already-popular culinary series just got bigger, Caribbean Journal has learned.  The destination has unveiled a new festival called Antigua and Barbuda Culinary Month, which will run throughout the […]


The 50 Best Restaurants in the Caribbean - 2025

best caribbean restaurants

No region in the world has a more diverse or dynamic culinary continuum than the Caribbean. Just about every cuisine on earth is represented, often in wonderfully, intoxicatingly fused expressions. Across the breadth of the Caribbean Basin, you will find […]