The Bahamas Investor

...ack atmosphere? Moyle doesn’t think so, pointing out that the island has accommodated its expanding community very well so far. “The tallest hotel is still barely three stories. The place is still very charming.” Sherman agrees: “It will never be anything like Nassau. It is not in danger of over-development. There are more large homes now, like everywhere else, so it will change a little bit, but I do not think it is going to change radically.” Fo......

...aken steps to secure the incremental nonstop air seat capacity needed to accommodate the new rooms coming on stream at Baha Mar in 2015,” he said. Grand Bahama Island experienced a significant increase in stopover arrivals due to increases in nonstop flights from several Canadian gateways by Sunwing Airlines, Bahamasair/Xtra Airways Spring/Summer flights from several US cities, Delta Air Lines’ increased frequencies from once a week to daily servi......

...ects are funded through the group’s flagship fund, the Sterling Mortgage Income Fund (SMIF), formerly the New Providence Income Fund Ltd, which has been going from strength to strength since it was launched in 2012. An open-ended offshore fund, the SMIF is a mortgage fund invested in jurisdictions around the world and focusing primarily on real estate. It was named best fixed- income mortgage-backed fund since inception by Acquisitions Internation......

...erations Ltd, is a duly licensed entity incorporated under the laws of the Commonwealth of The Bahamas. The company is well-equipped and eager to undertake initiatives to ensure the successful opening and operation of the Baha Mar resort by its target date of 21 April, 2017.” The statement went on to say that “CTF Enterprises is a world-class operator and owner of top-branded hotels worldwide, including Rosewood, and is involved with top casino br......

...ino perspective. We look forward to having such a renowned and experienced company turn the vision for Baha Mar resort into reality.” Transformative impact As tourism is the primary income driver and employer for the island nation, Baha Mar stands to have significant impact on Bahamian economic prospects. The resort is expected to generate in excess of $700 million in direct annual economic output and $1.1 billion in indirect and induced output. I......

...ent in the sun and everything else under the sun,” according to one of its commercials. “It’s all about growing the market and not cannibalizing it,” says Graeme Davis, Baha Mar’s president, who is leading the strategic and operational organization of the resort destination. “We want to grow tourism demand in The Bahamas,” he said, pointing to new airlift set to come on stream out of Chicago and Dallas. “Ultimately, we want to grow into Latin Amer......

...r visitors. We’re hoping that while this is seasonal, it will eventually become a year-round routine and will result in other flights directly from Europe bringing the tourists and visitor spend that we need,” said Frankie Campbell, Acting Minister of Tourism and Aviation. Captain Sebastian Schoggler who piloted the inaugural flight said: “We’re happy to be here again. I think it’s the first flight in over ten years and it’s very important to have......

...299 rooms and suites. “The opening of SLS Baha Mar signifies the official completion of phase II and the progress we are making towards our grand opening in 2018,” said Graeme Davis, president of Baha Mar. “We extend the warmest welcome to our newest employees, and look forward to introducing guests to the stunning SLS Baha Mar.” Earlier this month, Baha Mar launched Life Spectacular, the inaugural multi-million-dollar global advertising and mark......

...ther industries. RAV Bahamas is a real estate development and construction company in The Bahamas, which specializes in hotel, residential, retail, commercial, marine and infrastructure projects throughout the Caribbean. Bimini Bay Resort & Marina is a master-planned oceanfront community featuring over 480 luxury homes and villas suites, the largest yacht marina complex in The Bahamas, four restaurants, two pools, an open-air shopping village, ten......

...the CEO and founder of the global brand and leading lifestyle hospitality company, SBE Entertainment Group , which is committed to the principles of extraordinary service, world-class cuisine and design,” Prime Minister Minnis added. SBE manages and operates hotels, residences, restaurants and nightclubs around the world. SLS Baha Mar was realized through Dakota Development, a real estate development of SBE. The SLS Brand has been a leader and pi......

...rtant exercise and approval by the government means the jurisdiction is in compliance with Recommendation 1 of FATF. The event was successful beyond its high turn-out which Tanya McCartney, CEO and executive director of the Bahamas Financial Services Board , estimated to be around 300. “For the first time on a national level we have exposed the industry to the process by which we developed this national risk assessment document and came up with ou......

...vision of Financial Services in Supervised Financial Institutions. It is accompanied by a proposed Annex to the Central Bank’s Guidelines for Licensees on the Prevention of Money Laundering and Countering the Financing of Terrorism (AML/CFT). The new framework will apply to banks, trust companies, co-operative credit unions, money transfer businesses (MTBs), and payment service providers (PSPs) supervised by the Central Bank of The Bahamas. Collec......

...Hyatt and 299-room SLS. “I am incredibly proud of the successes we have accomplished and the commitments we have honoured within Baha Mar’s first year of operation,” said Baha Mar president Graeme Davis. “We pride ourselves in serving our resort guests with signature Bahamian hospitality, and the feedback we’ve received from those who have experienced our resort has been overwhelmingly positive.” Baha Mar launched its three-phase opening 21 April......

...mall Luxury Hotels. Construction will begin July 2018 and is scheduled for completion in December 2020. Approximately 300 Bahamians will be employed during construction, and just over 175 people will be employed once the development is in operation. The developer has agreed to a training and apprenticeship programme for employees. The developer has also agreed to sourcing and using local agricultural and other products. This development includes p......

...een very little handle down here. That happens with word of mouth. Players come down, have a great time, tell other people and it becomes viral. In Nevada it spiralled out of player experience. “If we capture a third of what Nevada does, it is big business for The Bahamas.” Baha Mar ups the ante Atlantis is not the only casino hoping to snag a share of Nevada’s business. When it opens in December 2014, the Baha Mar Casino & Hotel will gain the cou......