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ITM Group/Royal Caribbean move forward on Grand Bahama waterfront project

The Bahamas government signed a letter of intent on Wednesday with Royal Caribbean Cruises Ltd. and ITM Group for the sale of Grand Lucayan Resort and the redevelopment of Freeport Harbor.

Anne Kalosh, Editor, Seatrade Cruise News & Senior Associate Editor, Seatrade Cruise Review

March 27, 2019

1 Min Read
Credit: Seatrade Cruise News

The price for Grand Lucayan Resort is $65m.

Theme park and five-star hotel

The redevelopment project will include a theme park and a five-star hotel, according to Kwasi Thompson, minister of state for Grand Bahama.

An expansion and improvement of Freeport's cruise berths is also anticpated, as earlier reported.

The development is expected to take 24 months to 36 months. An additional 2m tourists are projected following completion.

On hand for the signing were ITM Group CEO Mauricio Hamui and Royal Caribbean's Russell Benford, VP government relations, Americas.

Costa Maya, Puerto Plata, Roatán

ITM are the developers of Puerto Costa Maya; Taino Bay, a new cruise port at Puerto Plata in the Dominican Republic; and of Roatán's cruise port expansion.

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About the Author

Anne Kalosh

Editor, Seatrade Cruise News & Senior Associate Editor, Seatrade Cruise Review

Anne Kalosh covers global stories, reporting both breaking and in-depth news on cruising's significant people, places, ships and trends. A sought-after expert on cruising, she has moderated conferences around the world, including the high-profile State of the Industry panel at Seatrade Cruise Global. She created and led the acclaimed itinerary-planning case study for Seatrade's cruise master classes held at Cambridge and Oxford universities. She has been the cruise columnist for AFAR.com, and her freelance stories have appeared in a wide range of publications, from The New York Times to The Miami Herald.

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