Baha Mar continues to be confident in its ability to contribute more than $65 million in direct taxation to The Bahamas annually and more than $100 million annually in combined direct, indirect and induced tax revenues when it is fully operation next year, though industry experts are still not convinced.
In a press release issued yesterday following the visit of Prime Minister Dr. Hubert Minnis to the property, Baha Mar stressed it will increase government tax revenues significantly, but that reality is contingent partly on the resort opening up new markets that The Bahamas has yet to fully tap, and industry experts are not convinced that will happen.
One expert told Guardian Business that Baha Mar is a case of introducing excess supply where there is little demand.
"Baha Mar is also poised to raise the profile of The Bahamas by growing the available room inventory by 40 percent in the luxury category," the Baha Mar release stated. "Once fully operational with stabilized business levels, Baha Mar anticipates directly employing more than 7,500 Bahamians."
Government has said very little about the property, instead shopping around the line that they want it to open as soon as possible so that Bahamians can benefit from the employment opportunities. However, with the property still unfinished, there are still questions as to whether the general contractor China Construction America (CCA) will meet its deadlines or if it has been updating the government on its progress.
"It is an incredible honor for Baha Mar and our associates to welcome Prime Minister Minnis and his parliament," said Graeme Davis, president of Baha Mar during the visit yesterday. "This is an extremely exciting time for Baha Mar and The Bahamas, and we're pleased to have the government's unwavering support as we continue to expand our offerings and build towards the opening of SLS Baha Mar in fall 2017, and Rosewood Baha Mar in spring 2018."
The opening of the Grand Hyatt, Baha Mar in April has given some momentum to the property, despite the
uncertainties. Baha Mar announced in the release that "next month hospitality and nightlife powerhouse SBE will debut the Katsuya and Cleo restaurants, and BOND nightclub will follow".
It also announced that it will soon begin a multimillion-dollar marketing campaign, noting: "To kick off the global marketing campaign, Baha Mar launched a state-of-the-art website showcasing the magnificent Bahamas and the spectacular guest experiences that await at Baha Mar, including the B.E.A.C.H. Sanctuary and The Current art program. This fall, Baha Mar will launch a multimillion-dollar advertising campaign, further raising the visibility of The Bahamas in the global marketplace."
Sources told Guardian Business that a rate war could be brewing on New Providence and Paradise Island as Baha Mar bids for visitors.

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