Sale of Grand Lucayan by end of year

Thu, Jul 18th 2019, 03:29 PM

The sale of the Grand Lucayan resort to Royal Caribbean Cruises Ltd. (RCL) and the ITM Group will be completed by the end of the year, Tourism Minister Dionisio D’Aguilar said yesterday.

“Certainly by the end of the year,” he said when asked about the sale outside the House of Assembly.

“It’s a large, complicated deal and even at this early stage [they] figured they would need some additional time to complete their due diligence and we were minded to agree to it.”

He added, “But negotiations are ongoing, and as you can imagine in negotiations it takes time to agree and there’s a lot of back and forth in negotiating. So that’s where we are at.”

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