Memories Grand Bahama Beach & Casino Resort remains closed since the passage of Hurricane Matthew, but discussions are underway to finding a "swift resolution" to open the resort.
In the interim, Guardian Business understands that the resort may have had difficulties receiving an insurance payout to perform repairs, which led to the delay in reopening.
A source, who spoke under condition of anonymity because negotiations are still ongoing, revealed that the insurers of the property have been slow to release the funds to repair damage from the hurricane. Hong Kong-based conglomerate Hutchison Whampoa is the owner of the property.
Memories' managing company, Blue Diamond, told Guardian Business yesterday in a statement that its parent company, Sunwing Travel Group, remains committed to operating in Grand Bahama and continues to support the destination through airlift and tour operator support.
"We are in discussions with the parties involved, including government, to find a swift resolution to reopen Memories Grand Bahama so that Sunwing can return to its previous level of support, which had such a profound and positive impact on the island's tourism revenue and employment in recent years," Blue Diamond said.
Over the past few days, rumors surfaced that
Memories was allegedly trying to pull out of its hotel operations in Grand Bahama. However, Memories dispelled those rumors in its statement.
Prime Minister Perry Christie previously announced that Hutchison Whampoa had hired a company to "superintend the exploration as to who would wish to buy" Hutchison's hotel properties on Grand Bahama, which are Lighthouse Pointe, the Grand Lucayan Resort and Memories Grand Bahama.
Democratic National Alliance (DNA) candidate for Pineridge and spokesperson on labor Leslie Lightbourne pointed out that employees have been told the property would reopen in May 2017.

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