FREEPORT, Bahamas – Grand Lucayan Resort, the largest resort on Grand Bahama Island and the third largest in The Bahamas, is being sold in a sealed bid auction.
The owner, Hutchison Lucaya Limited, has engaged HVS Capital Corp. to act as advisor in the sale. Bids for the 409-acre resort will be accepted until June 10.
“There are a number of investment opportunities for an interested buyer, from purchasing the resort in its entirety or looking at individual components,” said Mike Sullivan of HVS Capital Corp.
“Some of those options include expanding and / or relocating the casino, converting additional accommodations to an all-inclusive product or converting some accommodations to vacation or whole ownership.”
Stan Kozlowski of HVS Capital Corp added that there were favourable economic investment opportunities for Grand Lucayan, regardless of what options a potential buyer considers.
Located 55 miles from the east coast of Florida, the Grand Lucayan Resort complex, totaling 1,271 guestrooms, includes four hotel elements: the 10-story 528-room Breaker’s Cay tower; 198-room Lighthouse Pointe, newly renovated as all-inclusive; and 23 Lanai Suites – all with 12 food and beverage outlets and three swimming pools; plus the 522-room Memories Beach Resort which is leased to a third-party operator.
It also has a conference centre, casino, two golf courses and tennis courts.