The Tribune

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

Atlantis believes it will “open up a whole new market” for itself and the Bahamas when its 10-year franchise/marketing relationship with Marriott and its Autograph Collection launches on October 16.

George Markantonis, the Paradise Island resort’s top executive, said it expected to attract “a lot of customers” from Marriott’s 45 million-strong database who want to either redeem or earn ‘points’ by vacationing in the Bahamas.

Mr Markantonis, Brookfield Hospitality’s president and managing director, also revealed to Tribune Business that Atlantis planned to launch its $2,.5 million investment in private gaming rooms on March 1.

The Gaming Bill has paved the way for these facilities, which are now in the design phase, and are intended to put Atlantis on “a level playing field” with rival casino destinations such as Las Vegas, Macau and Singapore.

Before that, Atlantis is set to consummate the partnership that it unveiled this summer with Marriott and its Autograph Collection of signature properties.

“We’re looking at the exciting prospect of opening up the Autograph database and Marriott marketing,” Mr Markantonis said, confirming the launch date is in nine days’ time.

“That’s very exciting for the country, because I think we’re going to open up a whole new segment.”

He added: “Autograph is a collection of unique international hotels under the Marriott marketing system. There are 18 brands under one umbrella, and Autograph is one of them.

“The entire Marriott database features people who want to redeem or earn points available at hotels in the Autograph collection, such as ours.”

Pointing out that Marriott’s Autograph collection previously lacked a presence in the Bahamas, and did not have an integrated resort/casino like Atlantis anywhere in the world, Mr Markantonis implied that the Paradise Island resort would be a big draw for its clients.

“We are expecting a lot of customers to use their point redemptions to visit Atlantis and the Bahamas,” he told Tribune Business.

Mr Markantonis told this newspaper earlier this summer that Atlantis was hoping its 10-year franchise deal with Marriott will generate an extra 50,000-100,000 room nights per year.

He added that by becoming part of Marriott’s signature Autograph Collection, the Atlantis resort hoped to see “somewhere in the region” of a 10-15 per cent increase in annual room nights.

The agreement, designed to benefit both parties, gives Atlantis direct access to the 45 million customers in the Marriott Rewards loyalty programme.

The Paradise Island resort will also become part of the latter’s global sales, reservations and distribution network, and its frequent traveller programme.

From Atlantis’s perspective, the deal is a strategic partnership engineered to drive more tourists, and especially group business, to it. The benefits from the alliance with a strong, world-leading hotel brand should, in theory, show up in all its financial performance indicators and the bottom line.

Atlantis also retains its name and brand identity, remaining an independent destination resort owned by Brookfield and managed by Mr Markantonis and his team.

And Marriott also made a $100 million mezzanine loan to Atlantis as part of its $1.9 billion refinancing concluded earlier this week,

Mr Markantonis, meanwhile, revealed that Atlantis was busy on its casino gaming upgrades following the Gaming Bill’s recent passage through Parliament.

“The number one thing that’s going to happen is that we are busy designing and constructing our new private gaming area,” he told Tribune Business. “That could take some time. We are targeting a March 1 opening, and we will probably be investing $2.5 million.”

Mr Markantonis said these facilities would place Atlantis on “a level playing field” with casinos in rival jurisdictions that already had private gaming rooms - a key attraction for high rollers and gaming junkets.

While jobs would be created, given that private gaming rooms will be open 24/7, the Atlantis chief said he was unable to give precise figures at this time.

Mr Markantonis said Atlantis’s cruise passenger business, accounting for 8-9 per cent of its total revenue streams, continued to be “exceptionally strong”.

He added that the resort was constantly advertising 26 different excursions and attractions on board the cruise ships.