The Tribune

By Fay Simmons

Tribune Business Reporter

jsimmons@tribunemedia.net

A senior Royal Caribbean executive says Bahamian investors will gain the opportunity to invest in its $200m Paradise Island destination during the 2026 first quarter.

Jay Schneider, the cruise line’s chief product innovation officer, confirmed that the Royal Beach represents an investment of more than $200m and said the planned raise of equity capital from Bahamian investors will occur early in the New Year.

The Royal Beach Club is structured so that Royal Caribbean holds a 51 percent majority stake, while Bahamian interests own the remaining 49 percent. The Government’s stake will be based on the value of the four Crown Land acres it has contributed to the 17-acre project, with Bahamian investors set to acquire the remainder via an initial public offering (IPO).

Once the value of the Crown Land was appraised, the size and value of the collective equity raise from Bahamian investors was to be determined. It is thought the IPO will take a similar form to the Nassau Cruise Port offering, where investors acquired shares in an investment/mutual fund that will own the collective local interest in the Royal Beach Club.

Mr Schneider, meanwhile, said Royal Caribbean has brought over 30 m guests to The Bahamas and he expects the Royal Beach Club to be a “phenomenal success” similar as its Perfect Day destination at Coco Cay in the Berry Islands.

“We have brought more than 30m people to The Bahamas over the last 50-plus years,” said Mr Schneider

“Coco Cay is our number one rated destination by our guests anywhere in the world, and it's been also an amazing project and passion for us. We're excited to see how this [Royal Beach Club] performs when guests start showing up.

“But we already see on social media people staring off at ships, excited to come. Both Coco Cay as well as here have been phenomenal, and we believe this will be a phenomenal success, and it really helps the fly wheel of tourism.”

Mr Schneider said guests have also responded well to Utopia of the Seas, Royal Caribbean’s newest Oasis-class ship that provides an all-Bahamas itinerary.

“You think of the great products that are available in The Bahamas. More and more Americans on short cruises and long cruises want to come on vacation in The Bahamas,” said Mr Schneider.

“Utopia is one of our highest-rated products that we offer, and it is an all-Bahamian product, and it's one of the things we're kind of most proud of, how well it's rated from a satisfaction standpoint. Our guests just love it.”

Mr Schneider added the Royal Beach Club fully met its commitments on Bahamian participation, employment and its environmental pledges.

“We've met every commitment you've heard me make over the years, whether it's maximising Bahamian participation, it's 100 percent Bahamian operated. Our entire Royal Beach Club team is 100 percent Bahamian, which has been a passion for all of us,” said Mr Schneider.

“We've lived up to every environmental commitment that we could possibly have made. We committed to not disrupting the water source. We're generating our own water through desalinisation. This is our first zero waste to landfill site anywhere in the world.

“We've met every environmental commitment, and we've met every employment commitment, and then, most important, this thing is just gorgeous.”