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Ground broken on $23-million boutique hotel

Prime Minister Perry Christie was among those who attended the August 26 groundbreaking ceremony for the Mahogany Hill $23-million boutique hotel to be built on New Providence. 

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TheBahamasInvestor.com
Tuesday, August 27, 2013
Tuesday, August 27, 2013

Mark Holowesko shows Prime Minister Perry Christie the site for the Mahogany Hill boutique hotel

Pictured: Mark Holowesko, investment advisor and businessman and owner of Mahogany House restaurant (left) shows Prime Minister Perry Christie the site for the Mahogany Hill boutique hotel currently under construction. (BIS Photo/Peter Ramsay)

Prime Minister Perry Christie attended the August 26 groundbreaking ceremony for Mahogany Hill, a $23 million boutique hotel to be built on New Providence.

The project is the brainchild of Mark Holowesko, investment advisor and businessman and owner of Mahogany House Restaurant, and his daughter Lauren.

During his remarks Prime Minister Christie praised Holowesko for being a Bahamian investing in the domestic hotel and tourism industry.

The Prime Minister said: “This fine hotel will not only add to our tourism product, it is strategically located in a prime residential and business area and in close proximity to the airport where it will serve residents and business and leisure travellers.”

Groundbreaking


Mahogany House Restaurant“Much like his restaurant, the hotel will be a prime example to our local Bahamians of what can happen when you invest in your country.”

“When you invest in your country, you can provide much needed jobs and entrepreneurial opportunities for fellow Bahamians,” he added.

During construction, an average of 100 people will be employed on site and the hotel is expected to provide jobs for more than 40 staff.

The Prime Minister added that he believes that boutique hotels are necessary to grow and diversify the nation’s tourism product and provide guests with a much more intimate experience and exposure to The Bahamas.

The hotel amenities will include a spa, lap pool, bars, restaurants, tennis and sports areas, an aerobics studio and a theatre.

Mark Holowesko explained that over the next 18 months, his team plans to build a world-class boutique hotel next to the restaurant to complement the larger hotels that are being built on the island.

“We wanted to create a place that was modern in its approach, but using the same traditional features that has made Mahogany House Restaurant a success,” he said.

“We hope the hotel will be considered a guesthouse for the nearer communities with a distinctive Bahamian feel.”

Also attending the event were Deputy Prime Minister and Minister of Works and Urban Development Philip Davis; Minister of Tourism Obie Wilchcombe; Minister of State for Investments in the Office of The Prime Minister Khaalis Rolle; Director of investments, Bahamas Investment Authority, Joy Jibrilu; former president of the senate and chairman, Bahamas Environment, Science and Technology Commission, and mother of Mark, Lynn Holowesko.

American International Group Inc (NYSE:AIG) yesterday announced that it has agreed to the consensual termination of an interest rate swap agreement with Brookfield Asset Management Inc, which owns Atlantis Paradise Island in The Bahamas, in exchange for the payment from Brookfield to AIG of $905 million.

Fifteen college students took part in the Baha Mar Dream Team Summer Associate Internship programme, gaining experience in areas such as personal branding, professional development, networking, collaboration and workplace productivity.

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