New domestic and international terminal in Nassau Bahamas $83.5 million, 105,000 square foot facility.

The early bird got the surprise.

#At 4.45 am on Wednesday, while most of Nassau slept, a passenger bound for Freeport via a Bahamasair flight walked through the automatic doors of Lynden Pindling International Airport’s (LPIA) new domestic and international terminal and into history, becoming the first person to enter the $83.5 million, 105,000 square foot facility as it went live.

#On hand to greet her with a gift package and a broad smile was NAD president and chief executive, Vernice Walkine.

#“It was really fun; an historic moment,” said Ms Walkine. “You could see she was grinning from ear to ear and that says a lot, considering the hour, 4.45 in the morning.”

#While Ms Walkine was at one door, NAD director of terminal operations, Deborah Coleby, was at another, welcoming the next passenger. Bahamasair chairman Valentine Grimes; NAD vice-president of operations, John Terpstra; manager of customer service, John Fowler, and other executives and management were present for what one called “the $83 million moment of truth”.

#“Transforming LPIA took a lot of man hours, and an investment of some $400 million, the largest single infrastructural project ever undertaken in the history of our nation,” Prime Minister Perry Christie said during the ribbon-cutting ceremony. “Across these three stages more than $105 million was awarded to Bahamian contractors, and at the peak of construction some 350 workers were working on site.”

#The result, he said, was a world class airport.

#“Now, with sleek architectural features that take advantage of the natural environment and more than $2 million invested in Bahamian art, the terminals are a beautiful sight to behold and our airport is anything but ordinary,” the Prime Minister added.

#“We now have facilities commensurate with the other world class developments and product offerings on Nassau/Paradise Island and in our far flung Family Islands.”

#NAD said some 2,600 persons are employed directly or indirectly in connection with LPIA.

#Ms Walkine said the new terminal means those travelling to the Family Islands enjoy the same experience as those travelling across the globe. Bahamian-owned carriers now operate out of the same terminal as British Airways and Air Canada, with passengers having access to the same amenities, though waiting areas and gates are separate.

#“We are very excited about what this new terminal represents. We believe that this extraordinary new terminal creates a world class experience with a distinctive Bahamian flair,” said Ms Walkine. “From today on, the overall experience will be equal for passengers whether they are going to Toronto or George Town, London or Long Island.”

Article Credit: Nassau Guardian 

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Sandals chairman, Gordon ‘Butch’ Stewart, yesterday confirmed that the resort chain had “taken a look” at the Sheraton Cable Beach property, but denied it was taking over the Baha Mar-owned property.

#By NATARIO McKENZIE

#Tribune Business Reporter

#nmckenzie@tribunemedia.net

#Sandals chairman, Gordon ‘Butch’ Stewart, yesterday confirmed that the resort chain had “taken a look” at the Sheraton Cable Beach property, but denied it was taking over the Baha Mar-owned property.

#Tribune Business had been told by multiple contacts that Sandals personnel had been seen conducting ‘walk throughs’ at the Sheraton, assessing whether it might be suitable for conversion into its Beaches ‘all-inclusive’ family brand.

#Mr Stewart, who made an appearance at the eighth annual Exuma Business Outlook, denied that Sandals had any plans for this, but admitted the resort chain did assess the property located just down West Bay Street from Sandals Royal Bahamian.

#He said: “I know there has been talk about that; that’s not true. We looked at the place but we are not taking it over.”

#Robert Sands, Baha Mar’s senior vice-president of governmental and external affairs, yesterday described speculation about Sandals interest in the Sheraton Cable Beach resort as “rumours”, but Mr Stewart’s comments indicate there was truth to them. It appears that Baha Mar may be looking for a new operating partner for the resort.

#Tribune Business understands that Sheraton and its Starwood owner have reached an agreement where it will cease to be the brand/operating partner for the resort once Baha Mar finds a replacement.

#Multiple sources familiar with the matter told Tribune Business that the Sheraton/Starwood had requested that Baha Mar and its owners, the Lyford Cay-based Izmirlian family, invest more money into the resort to upgrade it.

#This was because guests were complaining that the on-property experience did not match the ‘sales’ or website marketing, but Baha Mar - with a $2.6 billion project next door - declined to invest more money in the Sheraton. Hence the agreed future parting.

#“We’re not going to responmd to rumours. Those are still rumours,” Mr Sands said of the impending parting between Baha Mar and the Sheraton, which is currently suffering from low occupancies associated with the traditional tourism slowdown.

#Meanwhile, Sandals has acquired 50 additional acres of land in Great Exuma adjacent to its Emerald Bay resort. Mr Stewart said that a decision how to use it would be made in the New Year.

#“I guess in the next year, we will focus on which direction we will go and make some good plans,” Mr Stewart said. “I think the potential is so good. We need to strengthen certain aspects before we go any further.

#“This development is a big, expensive one. We are making out OK, so we just want to consolidate and move ahead. We’re committed, we love it here. We are making nice inroads. Things are getting better.”

#Mr Stewart told Tribune Business: “We bought land next to our Sandals Emerald Bay property to make sure that we have the capacity to expand this resort, whether into a family resort or expand the resort for what it is, so we are making sure.

#““Of all the things, the marina is a big challenge for us at the Emerald Bay property. It has some flaws because it’s been really close to the drop-off. We have spent over $500,000 trying to figure what the problem is and, to date, it’s been inconclusive.

#“So, in the meantime, what we’re doing is making the most of it and trying to find a way forward to improve the flow. The marina works very well except for access to it in really bad seas,” he added.

#“Outside of that, it’s good. We want to do other things like a boat ramp at the back of the marina, which absorbs the energy. It’s a work in progress. But we really want to get it done.”

#While acknowledging that the Sandals Emerald Bay resort had faced several challenges over the years, particularly high energy costs, Mr Stewart assured that the chain was fully committed to Exuma.

#“I can’t complain. The Government has reached out and helped out with numerous things. Tourism is on their mind. They want to see things work. We’re here to say, we’re here to work,” he added.

#As for the high-end boutique resort on Fowl Cay, Mr Stewart said: “We have done a lot of work at Fowl Cay. We have beefed up the kitchens, renovated the homes. I want to build another five or six villas. We’re taking our time because that has to be planned. We will get it done when the time comes. I don’t want to overdo either.”

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Retired professional touring tennis player Mark Knowles, Lleyton Hewitt said he has fallen in love with the Bahamas.

Lleyton Hewitt

#By BRENT STUBBS

#Senior Sports Reporter

#bstubbs@tribunemedia.net

#SINCE he was first introduced to the Bahamas by retired professional touring tennis player Mark Knowles, Lleyton Hewitt said he has fallen in love with the Bahamas.

#Now, the former Australian world No.1 player who has purchased a home in Old Fort Bay, is excited about being a part of the Bahamian community.

#“It’s been a great base for us. My children go to school here and me and my wife (Bec) love it,” he stated. “I obviously travel a lot, but the reason we decided to come here was because we wanted to have a base outside of Europe and close to the United States. We met Mark Knowles, his mother, Vickie (Andrews) and his sister, Samara, they invited us here, we came, looked at it and loved it.”

#The 32-year-old Hewitt, at the age of 20, was the youngest player to be ranked at No.1 in the world. He is the owner of three major titles, winning the Wimbledon singles in 2002, the US Open singles in 2001 and the US Open doubles in 2000 with Max Mirnyi.

#In total, Hewitt has collected a total of 28 singles career titles, played in 16 other singles finals, added two doubles career titles and appeared in five more doubles finals. He is currently ranked at 59 in singles and has posted a 24-18 win-loss record this year with his latest performance coming in Vienna, Austria, on October 14 where he lost in the round of 32 to Vasek Pospisil of Canada.

#“Obviously, I had a lot of success. I’ve been world No.1, won Grand Slams and played on Australia’s Davis Cup teams,” Hewitt said. “Now I’m getting to the last chapter in my career, so I’m just trying to finish as well as I can. I’ve had five surgeries in the last 4-5 years, so I’m just trying to come back from those.

#“They were some career ending injuries, but I’m trying to work through those and I feel as long as I feel good out there, I will continue to play. I don’t know how long I will play, but the Grand Slams are work I play for and Davis Cups as well. We’ve gotten back into the World Group at Davis Cup with some younger guys, so it’s still important for me to stay around and try to help these guys become better players.”

#Hewitt, wearing a Sands Beer logo on his jersey during the US Open in Flushing Meadows, New York, teamed up to play with Knowles, who was enticed to come out of retirement to play together for the first time.

#The duo, however, didn’t get past the first round of the prestigious Wimbledon Grand Slam in London, England. For Hewitt, it was a dream come true to be on the same side of the court with Knowles, even if it was just for one match.

#“I spoke to Mark a lot. We get along very well. We both have wives that are about the same age and we both have three children with very similar ages as well, so it’s been a lot of fun,” he said. “We played Wimbledon together this year and it was a lot of fun. We were pretty relaxed and we tried our best.

#“He’s in a different phase of his life. He’s moved on, but he was still able to come back and hit the ball, so it was good to get that opportunity to play with him.”

#In three months, Hewitt is scheduled to be back home in Australia where he will begin the new years by trying to win the one Grand Slam title that has eluded him - the Australian Open.

#“I played in the losing, losing in 2005, so I will see what happens this time around,” he said. “There’s a lot of expectations and pressure playing in front of your hometown fans. It’s not easy, but I always look forward to playing there and trying to put on a good show for the people.”

#Although he’s not eligible to play for the Bahamas, Hewitt said he and his family have settled in as residents here and they are enjoying the experience.

#“It’s always good when I get back here. I get to put my feet up and enjoy the hospitality that is extended to me and my family,” he said. “It’s been a lot of fun and we really enjoy it here. This is now our home and I try to enjoy every moment of it when I come here.”

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Attracting more business into The Bahamas via private airplanes is a goal for tourism officials, as they presently generate more than 465,000 room nights annually.

Attracting more business into The Bahamas via private airplanes is a goal for tourism officials, as they presently generate more than 465,000 room nights annually.

Greg Rolle, chief aviation specialist and pilot at the Ministry of Tourism, confirmed to Guardian Business that he believes the sector has the capacity to generate an even bigger chunk of business.

Rolle pointed out that the goal of his department is to educate as many professionals in the aviation industry, particularly those in the Florida market, about the benefits of flying to The Bahamas.

“It’s all about educating the flying public, having a better understanding of who the traveling consumer is, the more comfortable they will be to spend on amenities. So what we have found out is that if a pilot wants to go to The Bahamas and let’s say they are flying through Ft. Lauderdale, they will be able to tell them all the details of how to fly to The Bahamas. We also educated them about the destination itself,” he said.

The chief aviation specialist further noted to Guardian Business that they have partnered with smaller airports, known as fixed-based operators (FBO), to encourage business through the aviation sector

“An example of this would be Odyssey in Nassau. Most of the private aircrafts funnel through FBOs to get their fuel, information, weather and flight plan. We found out that a lot of these pilots would go to the front desk, customer service professionals and ask them for information,” Rolle noted.

“Bearing that in mind, we started to educate customer service individuals so when the pilot walks to the front desk and asks for information about flying to The Bahamas, they will be in a better position to tell them how it’s done, so that’s our main focus.”

While numbers have been promising over the years and most of the business is coming from Florida, places like Miami, Ft. Lauderdale, West Palm Beach and Orlando, he revealed that many pilots are still very concerned with the hefty additional costs that are associated with flying their aircrafts to The Bahamas. It’s an issue Rolle said his team is looking to address.

Rolle continued: “We have a lot of pilots who will spend hundreds of thousands of dollars on their aircraft but there are various fees like landing fees, overnight fees, packing fees and even the departure tax they complain about which has gone from $15 to $25. They believe we need to minimize these additional charges as much as possible. These are some of the things that drive pilots away. Prices in Grand Bahama are even higher.”

Tourism officials have planned a familiarization trip for a group of aviation professionals that could benefit from flying to The Bahamas. The delegation will travel to Ft. Lauderdale; Grand Bahama; Great Harbour Cay; Berry Islands; Georgetown, Exuma and San Salvador from August 16 to 19.

“Trips like these allow aviation professionals to see the product so that they are able to speak with conviction once they go back because they have experienced it,” Rolle added.

Article Credit: Nassau Guardian 

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The Government of The Bahamas moved one step closer to attracting much needed new capital and investment to The Bahamas when a ministerial delegation left for Dubai on a trade mission late last week.

The Government of The Bahamas moved one step closer to attracting much needed new capital and investment to The Bahamas when a ministerial delegation left for Dubai on a trade mission late last week.

Headed by Foreign Affairs Minister Fred Mitchell, the delegation includes Financial Services and Trade Minister Ryan Pinder; Minister for the Environment and Housing Kenred Dorsett; Minister for Grand Bahama Dr. Michael Darville; State Minister for Investments Khaalis Rolle and Senator Jerome Gomez.

Additionally, officials from those ministries and the ministries of transport and aviation and tourism, representatives from the Grand Bahama Port Authority and the Bahamas Maritime Authority also comprise the delegation.

This trade mission is a follow up to a diplomatic trip made by Mitchell late last year to initiate the establishment of formal diplomatic ties with that region of the world that is renowned for its disposable wealth, keen interest in cultural tourism development, and its world class telecommunications infrastructure in addition to its emphasis on planning.

Mitchell revealed that The Bahamas government has made the decision to join the International Renewable Energy Agency (IRENA), which is headquartered in Dubai. The minister for the environment will take the opportunity to further the formal steps to complete the membership application for IRENA.

While in Dubai, the group is scheduled to meet with government officials and business leaders in the areas of tourism, port development, financial services, the environment, telecommunications and technology.

This trade mission, according to Mitchell, is being paid for by the Dubai Committee for the World Expo 2020.

Article Credit: Nassau Guardian 

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Lyford Cay resident Peter Nygard said he is planning to build a mega health facility in The Bahamas and already has $100 million in investment for the undertaking.

Lyford Cay resident Peter Nygard said he is planning to build a mega health facility in The Bahamas and already has $100 million in investment for the undertaking.

Nygard had promised to bring experts in stem cell therapy and research to The Bahamas if Parliament passed legislation to govern the sector, according to Prime Minister Perry Christie.

Parliament passed the Stem Cell Therapy Bill in August.

“The prime minister did what I asked him to do,” Nygard said at his residence on Nygard Cay.

“If he was going to write laws, if he was going to, I was going to go and put my activity into this investment.

“I have other countries that [want] to do this. The Dominican Republic, they declared a medical free zone for me.

“St. Kitts has written regulatory laws about it. Panama, I’ve been there many, many times. So this is not the first time I’ve been doing this. The prime minister is just sharp enough to go ahead and get on with it and recognize the potential of it.

“It should happen here.”

Nygard said he envisages the facility to be at the standard of the Mayo Clinic in Minnesota.

Nygard said the Bahamas facility is still in the planning stages and added that a location for it has not been selected.

“This is really big stuff,” he said.  “This is the size of Baha Mar. This doesn’t just happen overnight.

“It’s going to be a facility that will be, in my mind, the trophy of The Bahamas. Meanwhile, we are going to get together with the local doctors and get on with some of this business right now while we’re going to build the facility.

“It’s good to understand that the facility would be like a whole mall, the whole place in which outside people can come in and rent space from us or work as a partnership.

“So it’s a whole environment. That’s a pretty big dream.”

Nygard previously told The Nassau Guardian that he has no self-serving interests in the government passing the stem cell bill.

He said any advice Christie has sought from him on stem cell research is due to his knowledge of the science and well-placed contacts within the international medical community.

Nygard has said he uses stem cell therapy to slow the aging process.

He reiterated last week that he is not establishing the facility to serve himself.

“I am not in this to make a billion dollars,” he said. “Actually, I already have that. I’m in this to be able to live it and spend that money in the most productive way possible.

“That’s the beauty of my undertaking here.

“It has nothing to do with anything more self serving than to find myself having a facility that I can take care of myself and therefore take care of a lot of people.”

Christie has said the University of Miami has submitted a proposal to operate a stem cell research center in The Bahamas.

Article Credit: Nassau Guardian 

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Villa Florentine Ocean Club Estates Paradise Island Nassau, Bahamas

About This Property

Villa Florentine is a grand estate situated in the prestigious gated community of Ocean Club Estates. Positioned for views down the central waterway, the estate sits on two lots comprising 1.4 acres. "European elegance" sets the design motif, reflecting today's demand for worldly luxury while maintaining the ambience of comfortable Caribbean living. With a 14,000 sq. ft. main house and a 10,000 sq. ft. guest villa, the property offers 12 bedrooms, extensive indoor and outdoor entertaining spaces and crisply manicured tropical gardens. Villa Florentine is adorned with custom milled hardwoods, imported Italian tile, Macedonia stone columns, original fine art and a state of the art electronics system that allows internet monitoring and control from anywhere in the world.Ocean Club Estates features an 18 hole Championship golf course designed by Tom Weiskopf, tennis courts and a private beach club on the world famous Paradise Beach. Ocean Club Estates residents also enjoy use of all the facilities at the Atlantis Resort and Casino and the One & Only Ocean Club Resort.

Deal Price: $21,500,000

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Investors behind the Nassau Palm’s purchase have submitted a multi-million dollar offer to buy the nearby British Colonial Hilton

By NEIL HARTNELL

#Tribune Business Editor

#nhartnell@tribunemedia.net

#The investors behind the Nassau Palm’s purchase have submitted a multi-million dollar offer to buy the nearby British Colonial Hilton, Tribune Business can reveal.

#The Sunset Equities consortium was yesterday said by sources familiar with developments to be one of two groups competing to purchase the 288-room property that is very much the ‘anchor property’ for Bay Street and downtown Nassau.

#Their rival is said to be a London-based group, Musketeer Ltd, which is headed by Irving Aronson, a South African who worked with Sir Sol Kerzner, Atlantis’s developer, when they were in their formative accounting days.

#“There are two offers,” one source told Tribune Business of the protracted sales process for the British Colonial Hilton. “One of them is from the London group [Musketeer Ltd], and the other is from the New York group.”

#That latter group is Sunset Equities, which at end-May completed the purchase of the Nassau Palm on nearby West Bay Street, with plans to invest $8 million in its upgrade and transform it into a Marriott Courtyard brand.

#The ‘New York’ reference is understood to relate to one of Sunset Equities’ major players, Argent Ventures, a private real estate developer that owns the land under the city’s Grand Central Terminal. The company also owns the Capitol Records Tower in Hollywood, California, and Miami’s Omni International Mall.

#Government sources confirmed to Tribune Business that they were aware of Sunset Equities’ interest in the British Colonial Hilton, and that it had made a purchase offer to the property’s owners.

#“It has come to our attention,” one official, speaking on condition of anonymity because they were not authorised to speak publicly on the matter, said.

#“When they initially came to us, they said they were interested in multiple resort investments. We’re still watching the progress they’re making with the Nassau Palm, and with the other potential investments, we don’t know where they are with that yet.”

#The British Colonial Hilton is jointly owned by the Canadian Commercial Workers Industry Pension Plan (CCWIPP), the pension provider for Canadian supermarket workers, and Adurion, the Swiss/UK boutique investment house and private equity player.

#Adurion has Board control, and Tribune Business sources previously revealed both shareholders were keen to exit by going through with the sale at the right price.

#“The pension fund is anxious to sell it, but if they don’t get it priced at a certain amount, they will end up with nothing,” one source said yesterday.

#“They still have a lot of money in the deal, but are hoping for a quick resolution.”

#This newspaper previously exclusively revealed that a $74 million offer to acquire the British Colonial Hilton had been submitted by a multi-billion dollar New York-based asset manager, which was working with Roger Stein, whose RHS Ventures company previously made a failed attempt to take over development of New Providence’s still-closed South Ocean property.

#That offer, though, has fallen away, with Musketeer and Sunset Equities the two remaining players in the game. It is unclear which way the British Colonial Hilton’s owners will lean, or if a sale will be concluded at all, given that the hotel has been for sale for around a year.

#Tribune Business understands that bids to-date have been in the $60-$80 million range.

#Sunset Equities, which described itself as a consortium of Caribbean and international investors, pledged that it would create 75 construction jobs, plus around 70 permanent posts, once the Nassau Palm reopens in November 2014.

#In announcing the Nassau Palm deal, Sunset Equities confirmed it was looking for other resort deals, saying it was ‘focused on acquiring hotels throughout the Caribbean region, making the tourism model more sustainable and maintaining environmentally-sound decisions’.

#Colliers, the Canadian/US real estate firm engaged to market the British Colonial Hilton to potential suitors, has been heavily pushing the development opportunities offered by the 6.1 acres of seafront real estate immediately to the resort’s west.

#It is also touting the $15 million, or $52,000 per room, investment in upgrades to the British Colonial Hilton in 2010, plus a further $2 million that was kicked in during 2012.

#Apart from the 288-room British Colonial Hilton itself, the assets for sale also include the 22,240 square foot Fort Nassau, and 83,300 square foot, Centre of Commerce office buildings.

#And, to further sweeten the pot, there is the 6.1 acre parcel that “provides a unique and rare opportunity to acquire significant oceanfront real estate assets with prime development land in downtown Nassau”.

#Describing the British Colonial Hilton “as the landmark building of Nassau, strategically positioned in the heart of Nassau’s financial district overlooking the Nassau Harbour”, Colliers added that it was “Nassau’s only full-service business hotel with resort-inspired amenities”.

#The realtor said the deal was “further distinguished by its rare 6.1 acre undeveloped parcel in Nassau’s landlocked downtown.

#“The lands provide a variety of exciting development options, including the potential for residential apartment and condominium developments, or new yacht marina, to name a few.”

#And Colliers added: “The hotel and office components provide strong and stable income, as well as excellent value-enhancing potential.

#“Significant recent capital expenditures providing strong continued upside in operating performance.”

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