Royal Caribbean to Purchase Grand Lucayan Resort in Bahamas
This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. Terms apply to the offers listed on this page. For an explanation of our Advertising Policy, visit this page.
Royal Caribbean has signed a Letter of Intent with the Government of the Bahamas to purchase the Grand Lucayan Resort on Grand Bahama, according to The Bahamas Weekly. The government purchased the property about a year ago for $65 million and is selling it at that same price.
The purchase will see Royal Caribbean and partner ITM, who have successfully collaborated on projects in the past, invest in upgrades both to the property as well as the surrounding areas. A large part of that investment will go towards revitalizing Freeport Harbor. The eventual goal is to turn the harbor into a choice port of call for cruise ships.
Minister of State for Grand Bahama Senator Kwasi Thompson said, “The $195 million investment earmarked for the first phase of the project over a twenty-four month period will include the purchase price of $65 million and the creation of approximately 2,000 jobs.” This will come as a huge boon for the local economy and will open other opportunities for locals as the destination continues to grow over the coming years.
According to Thompson, in addition to the redevelopment of Freeport Harbor as a cruise port of choice, the venture will also transform the Grand Lucayan resort into a theme park. The park is set to feature water-based recreation activities as well as dining, gaming and five-start hotel accommodations.
For the latest travel news, deals and points and miles tips please subscribe to The Points Guy daily email newsletter.
Featured photo by Getty Images
Welcome to The Points Guy!
Earn 50,000 bonus miles and 5,000 Medallion® Qualification Miles (MQMs) after you spend $2,000 in purchases on your new card in the first three months of card membership. Plus, earn up to $100 back in statement credits for eligible purchases at U.S. restaurants in the first three months of card membership.
With Status Boost™, earn 10,000 Medallion Qualification Miles (MQMs) after you spend $25,000 in purchases on your Card in a calendar year, up to two times per year getting you closer to Medallion Status. Earn 3X Miles on Delta purchases and purchases made directly with hotels, 2X Miles at restaurants and at U.S. supermarkets and earn 1X Mile on all other eligible purchases. Terms Apply.
- Earn 50,000 Bonus Miles and 5,000 Medallion® Qualification Miles (MQMs) after you spend $2,000 in purchases on your new Card in your first 3 months.
- Plus, earn up to $100 back in statement credits for eligible purchases at U.S. restaurants with your card within the first 3 months of membership.
- Earn up to 20,000 Medallion® Qualification Miles (MQMs) with Status Boost® per year. After you spend $25,000 in purchases on your Card in a calendar year, you can earn 10,000 MQMs two times per year, getting you closer to Medallion® Status. MQMs are used to determine Medallion® Status and are different than miles you earn toward flights.
- Earn 3X Miles on Delta purchases and purchases made directly with hotels.
- Earn 2X Miles at restaurants worldwide, including takeout and delivery and at U.S. supermarkets.
- Earn 1X Miles on all other eligible purchases.
- Receive a Domestic Main Cabin round-trip companion certificate each year upon renewal of your Card. *Payment of the government imposed taxes and fees of no more than $75 for roundtrip domestic flights (for itineraries with up to four flight segments) is required. Baggage charges and other restrictions apply. See terms and conditions for details.
- Enjoy your first checked bag free on Delta flights.
- Fee Credit for Global Entry or TSA Pre✓®.
- Enjoy an exclusive rate of $39 per person per visit to enter the Delta Sky Club® for you and up to two guests when traveling on a Delta flight.
- No Foreign Transaction Fees.
- $250 Annual Fee.
- Terms Apply.
- See Rates & Fees