Paul Wynn, CEO of Canadian real estate development company Wynn Group, revealed his company's plans to develop a high-end boutique hotel in New Providence under the operation of Kimpton Hotels and Restaurant Group Inc.
The project is expected to employ an estimated 350 construction workers and about 100 hospitality workers once completed. The operator, Kimpton, is a part of the Intercontinental Hotels Group hotel company.
The boutique hotel is expected to be named
'Kimpton Hotel and Residences' and will be located on West Bay Street- across from the Office of the Prime Minister, according to Vice President for the Wynn Group Randy Hart
Speaking to Guardian Business on Tuesday, Wynn - which is also the prospective buyer for the Grand Lucayan hotel complex - said the development's strong points would be accessibility and affordability.
"I don't want it to be reserved for just tourists. I want people from Cable Beach and other parts of The Bahamas to come here," said Wynn.
Wynn said if the company gets permitted in time, construction is expected to start in January and be completed within a two-year period.
The hotel is expected to feature 90 hotel rooms - 25 will be condo hotel units - and an additional 64 residences.
Other features include a restaurant, a physical facility open to the public, and a bar.

Investor confidence
The recent announcement by Moody's to place The Bahamas' credit rating on review for downgrade, has warranted some concerns over the country's investment climate.
Nevertheless, Wynn asserted that his company wants to be a part of the "turnaround" of the Bahamian economy.
"I am concerned for the country because if your credit rating is downgraded you pay more for the money you borrow and there is a lot of debt in this country," said Wynn.
"It affects Bahamians. It doesn't affect us as an investor, per say."
In addition, Wynn said, "It seems like the ease of doing business is improving. The present government has been tremendous to work with. They have been, for a new government, very accessible and responsive."

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