The manager of the Bay Street Marina has predicted a "bright future" for the marina and Bahamian yacht sector as a whole, while proposing a business hotel on the waterfront as part of a slate of possible further investments.
Marina Manager Peter Maury said that the marina "had a good start" and continues to perform well as the marina industry enters its busy season over the summer. In addition to the three restaurants onsite, Maury said that the marina hopes to further expand and is exploring proposals for retail stores, condos and a business hotel on the property.
"From our end, we're still putting proposals together to see what best suits the market," said Maury, adding that the addition of a business hotel would present a unique opportunity for the area.
Maury hoped that the marina could partner with a hotel chain to build a small business hotel on a portion of the marina's property, which would operate independently of the marina and would set itself apart from nearby competition by targeting businessmen and providing conference spaces.
The marina, which opened in November 2013, accommodates yachts of up to 150' and is currently at roughly 70 percent capacity. The marina is part of wider downtown revitalization efforts, and Maury projected that the area would continue to grow over the next few years through continued developments.
Turning his attention to the wider yacht industry, Maury stated that The Bahamas was currently in a unique position within the region to attract yacht tourism.
"With the increased price in fuel and modern navigation, we have a good opportunity here to raise the awareness of yacht visitors," said Maury, adding that the industry could expand by raising the frequency of super yacht visits to The Bahamas.
While Maury felt that the country needed to increase the ease of doing business in the face of mounting taxes, including value-added tax (VAT) and charter fees, he remained optimistic about the marina's future.
"I see a bright future for the marina industry if we can control the cost of yachts visiting the Bahamas...We can really increase the presence of yachts that spend more per capita in this country than any other tourism sector, but that's not going to happen if we scare everybody out of here."

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