The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

THE proposed $25 million hotel and office/conference centre at the Lynden Pindling International Airport (LPIA) is still just a 'concept' at this point, according to the Nassau Airport Development Company's (NAD) president and chief executive Stewart Steeves.

Earlier this year, Frank Watson, then-chairman of the Airport Authority, which oversees NAD's activities, confirmed to this newspaper that the project's progression was "in the hands" of the south Florida-based investor group behind it. Mr Watson indicated that NAD and the Airport Authority had done everything necessary to facilitate the development to-date.

When asked about the progress of the deal during a recent tour of the LPIA project by the Christie Cabinet, Mr Steeves said: "The hotel deal is still something that's being conceived, but it's nowhere near announcing at this point.

"It's a concept that we are still continuing to explore, but that's all it is at this point." Tribune Business understands that the developers are still working to tie down their project financing, and are thought to be exploring several prospects and offers.

The developers, who own the Atlantic Resort & Spa in Fort Lauderdale, are said to be looking to construct the hotel on a three-acre site immediately to the south of Windsor Field Road, right between the two entrance and exit roundabouts for LPIA.

Tribune Business exclusively revealed the project's existence in October 2011, with the development likely to create between 100-150 full-time jobs.

The developers are seeking to construct a facility of 'four-star' standard, rather than the typical 'two-star' airport hotel, targeting the private aviation market and foreign directors of Bahamas-based companies who fly into LPIA for Board and other meetings.