THE GRAND LUCAYAN SALE ANNOUNCED IN GRAND BAHAMA

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The Bahamas Government announced on Wednesday 11 May 2022, that sale and purchase of the Grand Lucayan Hotel in Freeport.  This is the hotel that was purchased at an overprice by the FNM just before they left office and has cost the Bahamian taxpayer almost 200 million dollars.  The decision was a  foolish one by the FNM.  They said they had a deal.  The deal never came off and collapsed shortly after the government changed last year. Now the purchase was announced by the Deputy Prime Minister of the hotel by Electra a US company  for 100 million dollars.  They promise to refurbish hotel and there are to be 2000 jobs provided by 2025.  The Bahamas Government has  promised to upgrade the Grand Bahama airport in that time.  This is long overdue break for Grand Bahama.