grand lucayan resort
The Bahamas Accepts $100 Million Purchase Offer for Grand Lucayan Resort in Freeport
May 18, 2022
NASSAU, Bahamas, May 18, 2022-- A rebirth is on the horizon for Grand Bahama Island. The Bahamas Ministry of Tourism, Investments & Aviation (BMOTIA) made the long-awaited announcement that an offer has been accepted for the purchase of Grand Lucayan, a beachfront resort located in the bustling city of Freeport. Electra America Hospitality Group (EAHG) has entered into an agreement with Lucayan Renewal Holdings to buy the resort for $100 million. CEO and Principal of Electra America Hospitality Group Russell Urban said the company was very interested in the resort for many reasons, among them is the "opportunity ...
Partnership Between Royal Cribbean and ITM Acquire Grand Lucayan in The Bahamas
March 4, 2020
FREEPORT, Grand Bahama, March 4, 2020 -- The Government of The Bahamas sold the Grand Lucayan on Monday, March 2, 2020 to a partnership between Royal Caribbean International and ITM (Bahamas Port Investments Ltd.), which is expected to make a $250 million investment between the hotel and the redevelopment of the cruise port. The Heads of Agreement Signing Ceremony was held on the Great Lawn of the property, some 11 months following the signing of the Letter of Intent on Wednesday, March 27, 2019. Prime Minister of The Bahamas, the Most Hon. Dr. Hubert Minnis, described the day as a wonderful one as the government's intention was never t...
Grand Lucayan Resort Complex for Sale in Sealed Bid Auction
March 16, 2016
Assets Can Be Sold in Whole or in Parts; No Reserve Price FREEPORT, Bahamas (Mar. 16, 2016) HVS Capital Corp. today announced that the Grand Lucayan Resort complex is being sold in a Sealed Bid Auction. The 409-acre resort is the largest on Grand Bahama Island and the third largest in The Bahamas. The owner, a subsidiary of Hong Kong-based Cheung Kong Property Holdings Limited, has engaged HVS Capital Corp. to act as advisor in the sale. The seller's preference is to sell the Grand Lucayan Resort complex as a single transaction. However, bids for individual assets will be considered. There is no reserve price. Additionally, seller-pro...
