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BBO update on Baha Mar

Members of the business community came together yesterday to attend the Bahamas Business Outlook, hearing from speakers such as Prime Minister Perry Christie, CEO of the Bahamas Financial Services Board Tanya McCartney and president of Baha Mar Graeme Davis. 

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TheBahamasInvestor.com
Tuesday, January 24, 2017
Wednesday, February 1, 2017

Members of the business community came together yesterday to attend the Bahamas Business Outlook, hearing from speakers such as Prime Minister Perry Christie, CEO of the Bahamas Financial Services Board Tanya McCartney and president of Baha Mar Graeme Davis (pictured).

At the event, which took place at the Melia resort on Cable Beach, attendees were updated on the progress of the reignited mega-resort development Baha Mar. President Graeme Davis said the resort was on track for a soft opening in April which would include the 18-hole golf course, Grand Hyatt hotel and convention centre.


“We want to make sure we open thoughtfully and with an experience that is flawless and exceptional in every way,” he said, confirming that the grand opening will take place in December. When completed the resort will feature four hotels: the Grand Hyatt, the Rosewood, SLS Lux and the Melia, as well as a 100 sq ft casino, over 40 food and beverage outlets, spa facilities and a 15-acre private island.

Davis said concentrated PR and marketing efforts would begin in February as the resort gears up to take its first bookings. He is confident Baha Mar will capture a lot of trade, noting that there is “tremendous pent up demand” for such an offering in The Bahamas. The new owners have invested over $100 million readying the property for opening this year, according to Davis who added: “The economic drivers are poised well for future success. We are extremely excited, proud and honoured to be a part of this community.”

The Bahamas Business Outlook, now in its 26th year, also heard from BFSB CEO Tanya McCartney who said she remains optimistic about the financial services sector despite increasing challenges.

“We must chart a new course to buttress our economy,” she said. “While the prognosis may be uncertain, there are many of us who see opportunity in the face of challenges.”

McCartney spoke about the need to innovate, introduce more favourable immigration policies, amend the tax structure and leverage technology to improve ease of doing business.

cmorris@dupuch.com

Caribbean Hotel and Tourism Association Travel Marketplace event will return to The Bahamas January 31 to February 2. Watch a preview of the conference here.

Representatives of Andbank (Bahamas) Ltd paid a courtesy call on Minister of Financial Services, Hope Strachan, at the offices of the Ministry, January 16, 2017.

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