For many families, Spring Break means it's time to pack up and get out of town together. While some Spring Break destinations and hotels may be for the college party crowd, there are some luxury properties in The Bahamas ideal for families.

Lucayan Renewal Holdings Ltd today signed a Letter of Intent with Royal Caribbean Cruises Ltd and the ITM Group to begin exclusive negotiations for the purchase of the Grand Lucayan Resort at a price of $65 million, and the redevelopment of the Freeport Harbour.