Baha Mar spends weekend in talks with partners

Mon, May 18th 2015, 01:19 AM

Baha Mar officials were working with their Chinese partners for much of the weekend trying to reach common ground on outstanding issues that have delayed the opening of the $3.5 billion project, but up to last night those talks had not been concluded, The Nassau Guardian understands.

Yesterday afternoon, Prime Minister Perry Christie told The Guardian that he was hopeful a resolution would be reached before the end of the day.

Last Wednesday, Christie told The Nassau Guardian Baha Mar officials were unable to get word on an opening date, and the contractor had failed to commit to such a date until Baha Mar makes certain payments. But Christie insisted at the time that Baha Mar was not facing a money issue. He said he had been advised late Tuesday night that the parties were "very close to fixing the matter".

Yesterday, Christie indicated that he was expecting to learn of a conclusion within hours. Late yesterday evening, that conclusion had not yet been reached, The Guardian learned. The Guardian also understands that the prime minister is hoping for more clarity on the way forward for the $3.5 billion development by the time he delivers his Budget Communication to Parliament at the end of May.

Reports that Baha Mar and its contractor, China Construction America, are having differences have created jitters in the national economy. Christie previously expressed worries over the security of jobs at Baha Mar. The property's opening has been delayed three times. The Nassau Guardian learned that the company is losing up to $10 million a month as a result of delays.

Baha Mar CEO Sarkis Izmirlian said in a letter to staff on May 1 that officials were continuing discussion with the construction manager and general contractor on the finalization of works, but had been unable to get a firm completion date from them. He also advised that Baha Mar has paused new reservations and canceled all existing reservations until August "in order to minimize guest inconveniences and concerns".

At the end of April, more than 1,000 Baha Mar employees were reassigned from their original positions to jobs such as security and fire watch, construction cleaning, cleaning of the resort perimeter and loading of furniture and fixtures to the hotels.

Click here to read more at The Nassau Guardian

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