The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

BAHAMAS Speed Week’s investors yesterday predicted the event will take “a big step up” on 2014 with “double the number of entrants and the room nights”, following a pledge by Deputy Prime Minister Philip Davis to build a proper racing circuit to accommodate it.

Jimmy Lowe, Speed Week’s president, said this year’s event should generate a 20 per cent increase in room nights compared to the 800 room nights produced last year.

“Last year we had approximately 800 room nights. I know that the Hilton, which is our base hotel can’t take any more people,” Mr Lowe said.

“We’ll have at least what we had last year and maybe 20 per cent more, because a lot of people who are actually spectators have called us up to purchase tickets to come. Ticket sales have been a little bit slow but they are picking up now.”

Mr Lowe added: “In terms of participants we’re a little bit down from last year, maybe four or five cars less than last year. We have a good complement of cars this year, a variety of cars and some iconic cars worth $5-$6 million a piece. Overall, I think we are in pretty good shape.”

While declining to put a figure on the level of financial investment into this year’s event, Mr Lowe expressed optimism that 2014 would be an even bigger success. “Things are falling into place. The Deputy Prime Minster’s commitment to build a track for us next year is a huge boost for Bahamas Speed Week going forward,” he added.

“That will double the entrants that we had this year and double the room nights. That’s what we’re really looking forward to. Although we are struggling this year, next year will be a big step up.

“We’ll probably end up with 60-80 entrants next year because we’re going racing. We’re having people coming for two and three weeks at a time. They’re not coming for four and five days. That’s what we’re working towards.”

Speaking at the opening ceremony for the third installment of the event, Mr Davis said: “The Bahamas Speed Week organisers and the civil engineering team from the Ministry of Works and Urban Development are completing the design for the utilisation and refurbishment of the remaining section of the original track, and building of new track within the Queen Elizabeth Sports Centre in Oakes Field.

“The track complements the Hot Road racing track which the Government had previously built at the centre.”

Mr Davis added: “Speed Week will return to a racing circuit which the Government plans to build at the Queen Elizabeth Sports Centre.”