It’s “business as usual” at Atlantis Paradise Island, with the hotel expecting a 12 per cent increase in business year on year, according to George Markantonis, president and managing director of Kerzner International Bahamas.
Atlantis on Paradise Island is the flagship resort of Kerzner International, a leading international developer and operator of destination resorts, casinos and luxury hotels.
In November, news broke that Kerzner International would transfer its ownership of the Atlantis Resort and Paradise Island properties to Brookfield Asset Management as a part of a broad $2.5-billion debt restructuring.
If the $175-million debt for equity swap had gone through, Kerzner would go from owner operator to a resort management company in The Bahamas. However, bigger lenders filed a lawsuit blocking the deal.
Although Atlantis fate remains up in the air, Markantonis says that hasn’t prevented the resort from moving ahead with a major capital investment programme.
…continue >