Lucayan Renewal Holdings Ltd. signed a letter of intent (LOI) with Royal Caribbean Cruises and the ITM Group today for the purchase of the Grand Lucayan resort on Grand Bahama for $65 million and the redevelopment of the Freeport Harbour, the government said.
“The proposed joint-venture project between RCL/ITM will include the redevelopment of the Grand Lucayan resort into a world class destination, featuring water-based family entertainment, with dining, gaming and entertainment options, and five-star hotel accommodations,” the Office of the Prime Minister, Grand Bahama said in a statement.
The Grand Lucayan Resort closed its doors on October 2016 for repairs after it suffered damage from Hurricane Matthew. During this
August 2018, the PRIME Minister

As of now, the government
Once the VSEP negotiations are completed we can expect the 13+ Million investment to increase between 16-18 Million with the projected total investment ranging between $78-85 Million.
Please note that this figure does not take into account any salaries or expenses accrued by Michael Scott and team. This overpayment and overall loss to the Bahamian taxpayer takes us down memory lane with the fire sale of BTC and other assets.
More details to come once the LOI is tabled into parliament
More from POLITICS
PLP Rejected Iram Lewis Before COI Move — Didn’t See Him as Cabinet Material
By Staff Reporter NASSAU — Former FNM Member of Parliament Iram Lewis officially joined the Coalition of Independents (COI) last week—but …
Tensions Rise in the FNM: Senator Barnett-Ellis Fears Betrayal Over Killarney Seat
NASSAU - Senator Michaela Barnett-Ellis, widely seen as a rising figure within the Free National Movement (FNM), is said to …
IS JAMAAL MOSS GUILTY OF BLACKMAIL?
The urgency of this question cannot be overstated. Is former FNM Senator Jamaal Moss guilty of blackmail? Some would easliy …