The Tribune

By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

NASSAU/Paradise Island resorts capped off a "roller coaster" 2017 with a strong fourth quarter performance driven by positive Thanksgiving, Christmas and New Year's holiday periods.

Carlton Russell, the Bahamas Hotel and Tourism Association (BHTA) president, told Tribune Business: "The final numbers aren't out as yet, but the Thanksgiving, Christmas and New Year's has been very strong for us. We're just looking for the final numbers now to see what the results are.

"You have to bear in mind 2017 was a roller coaster of a year. We came off 2016 with Hurricane Matthew, and that had some implications for us in the first quarter. However, we bounced back in the Easter period. We were threatened with hurricanes in the third quarter, and business took a dip. It was quite encouraging to see the Thanksgiving, Christmas and New Year's be as strong as they were."

Mr Russell said there was considerable enthusiam over the potential Grand Lucayan sale. The Grand Lucayan's 14-month closure in the aftermath of Hurricane Matthew, and loss of 1,100 rooms representing 59 per cent of the island's room inventory, has sent Grand Bahama's economy into a tailspin ever since. The proposed heads of agreement (HOA) for the Grand Lucayan resort complex is under review by Cabinet, following its receipt from potential purchaser, the Wynn Group out of Toronto.

"The BHTA had its meeting in the last quarter in Freeport, and we were able to bring everyone around the table and talk about what's going on in Freeport. There is a lot of enthusiasm over what could happen," said Mr Russell.

"As it relates to Grand Bahama, everyone is hoping that a deal comes to the table and to fruition in short order. We are here as an association to support whomever and however that deal goes. When we look at the impact of Grand Lucayan in Freeport we are looking at it from a broad perspective.We really wish them well, and anything the BHTA can do we will."