The Tribune

By FAY SIMMONS

Tribune Business Reporter

jsimmons@tribunemedia.net

Royal Caribbean (Bahamas) president Philip Simon said the long-awaited public offering for the Royal Beach Club at Paradise Island has been pushed toward year-end so potential investors can evaluate financial results based on actual operating performance.

Speaking during the beach club's Labour Day community event, Mr Simon said the initial public offering (IPO) remains on track but management wants to establish a clearer operating record before inviting Bahamians to invest.

"That's coming," he said. "We've said it before, and we've pushed that towards the end of the year because we want to operate in partnership with the Government and with our vendors so that we have a good understanding of the business.

"When we get to the IPO, we want the numbers to be reflective of the experience thus far. So it's coming."

The latest timeline represents another delay for a share offering that has been repeatedly pushed back as Royal Caribbean and its partners worked through the legal, regulatory and structural arrangements required to bring the investment opportunity to market. Tribune Business previously reported that the IPO had slipped from 2024 into 2025 and was later pushed into 2026 as approvals and offering details were finalized.

The public offering is intended to give Bahamians an ownership stake in the Paradise Island attraction, with Royal Caribbean holding a 51 percent majority interest while the remaining 49 percent is to be owned by the Government and Bahamian investors. The Government's stake is tied to the value of Crown Land contributed to the project, with private investors expected to acquire the balance through the IPO.

Mr Simon previously told Tribune Business that Royal Caribbean is "1,000 percent committed" to providing Bahamians with an equity ownership opportunity in the development. The offering is expected to follow a structure similar to the Nassau Cruise Port transaction, where investors purchased shares through a collective investment vehicle.

The Royal Beach Club opened earlier this year after years of planning and construction. Government officials have touted the ownership structure as a first-of-its-kind model that will allow Bahamians to directly participate in the financial success of a major tourism development rather than solely benefiting through employment and business opportunities.

Mr Simon's comments suggest the company now wants several months of operating data before proceeding with the share sale.

By waiting until later this year, potential investors will be able to assess the business based on actual performance rather than forecasts, while Royal Caribbean and its government partners gain a clearer understanding of the attraction's revenue and operating trends.

Although he did not provide a specific launch date, Mr Simon indicated the IPO remains a key component of the project's partnership model and is still expected before the end of 2026.