Search results for : Lucayan
March 17, 2023
DPM: No more talk on Grand Lucayan sale until there is "money in the bank"
NASSAU, BAHAMAS — Deputy Prime Minister Chester Cooper said yesterday that there will be no further public announcements on the sale of the Grand Lucayan Resort until "the money is in the bank." Cooper, the Minister of Tourism, Aviation, and Investments said that three credible offers have been received from entities that have already undergone [...]
Several Developers Interested in Grand Lucayan
March 01, 2023
Several Developers Interested in Grand Lucayan
ABACO, BAHAMAS - Deputy Prime Minister and Minister of Tourism Chester Cooper hit back at criticism over the sale of the Grand Lucayan Resort.
February 28, 2023
DPM maintains that progress continues in Grand Lucayan sale
Deputy Prime Minister and Minister of Tourism, Investments and Aviation Chester Cooper maintained yesterday that progress continues toward the sale of the Grand Lucayan resort in Freeport, Grand Bahama, months after a previous deal collapsed.
February 28, 2023
DPM: Gov't remaining positive as search for Grand Lucayan buyer continues
NASSAU, BAHAMAS — Government continues to work with several developers interested in purchasing the Grand Lucayan resort and remains positive that it will find the right buyer, Deputy Prime Minister Chester Cooper said yesterday. Speaking with reporters on the sidelines of the official groundbreaking of the Montage Cay development, Cooper said: "We are continuing to [...]
November 10, 2022
Bowe: Negotiators must consider cost benefit analysis of Grand Lucayan
Finance expert and Chief Executive Officer of Fidelity Bank Gowon Bowe said yesterday the government must consider the cost benefit analysis of the Grand Lucayan resort, as the board of Lucayan Renewal Holdings Limited (LRHL) enters into negotiations with a new purchaser for the property. LRHL revealed earlier this week that it ended negotiations with Electra ...
The post Bowe: Negotiators mu...
November 09, 2022
GB Chamber on Grand Lucayan deal collapse: We want a meeting with PM
Calling the announcement that the sale fell through of the Grand Lucayan resort on Grand Bahama to Electra America Hospitality Ltd. (EAHL) more than a set back but rather a failure, Grand Bahama Chamber of Commerce President James Carey yesterday urged the prime minister to meet the island's business community. Six months after it announced ...
The post GB Chamber on Grand Lucayan deal collapse: W...
November 09, 2022
Grand Lucayan buyer won't be named until definitive deal sealed
Speaking yesterday about the collapse of the deal he announced in May for the government to sell Grand Lucayan Resort to Electra America Hospitality Ltd. (EAHL) for $100 million, Acting Prime Minister Chester Cooper said the art of making a deal is knowing when to move on, and he indicated the government will not name ...
The post Grand Lucayan buyer won't be named until definitive deal seale...
Grand Lucayan deal closing put off by two months
September 26, 2022
Grand Lucayan deal closing put off by two months
Weeks after stating on August 4 that the parties involved in the sale of the Grand Lucayan resort in Freeport have agreed to a 45-day extension to "complete requisite legal documentation", Lucayan Renewal Holdings Limited (LRHL) said on Friday that 45-day extension, which expired on September 15, had been for "due diligence" and, by virtue ...
The post Grand Lucayan deal closing put off by two mon...
September 23, 2022
Grand Lucayan negotiations 'on track for a successful purchase'
LUCAYAN Renewal Holdings Limited said Friday that negotiations surrounding the sale of the Grand Lucayan in Grand Bahama are progressing towards a successful deal.
Grand Lucayan deal extension runs out
September 23, 2022
Grand Lucayan deal extension runs out
After several extensions to the due diligence period for the Grand Lucayan resort sale, there is still no indication that the sale of the troubled Freeport property to Electra America Hospitality Group for $100 million will close anytime soon - if at all. Last week Thursday, Lucayan Renewal Holdings Limited (LRHL), the special purpose vehicle ...
The post Grand Lucayan deal extension runs out appe...
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