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!
WELCOME OFFER: 60,000 Points
TPG'S BONUS VALUATION*: $1,200
CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners
*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.
- Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
- 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel
- Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/21.
- Earn 5X points on Lyft rides through March 2022. That’s 3X points in addition to the 2X points you already earn on travel.