Hotel News

Government Negotiating To Revive Grand Bahama Resort

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After receiving no news from Harcourt Development for some time, the Grand Bahamas government has finally found the officials of the company. Minister of Finance Zhirvago Laing with Royal Oasis Hotel owner the Harcourt Group are in talks with parties over interests in a piece of dormant property that has been inactive since September of 2004.

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Debt Due-Date Looms for Kerzner

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Kerzner International Resorts Inc., owner of several high-end vacation spots, including the sprawling Atlantis resort in the Bahamas, has tapped a cadre of restructuring advisers to help rework nearly $3 billion in debt ahead of a looming repayment deadline later this year.

Kerzner recently enlisted advisers at law firm Kirkland & Ellis LLP, Goldman Sachs Group Inc. and Blackstone Group LP to determine how to restructure the debt, according to people familiar with the matter. About $2.6 billion of the debt, in the form of a senior mortgage, comes due in September.

In the meantime, the terms of another $400 million slug of so-called operating company debt could force Kerzner to reach a deal with creditors sooner, the people said. The specific issues surrounding the terms of that slice of debt remained unclear.

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Baha Mar Finalizes Financing With Chinese Bank

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Baha Mar yesterday finalized its financing agreement with the Chinese Export-Import Bank, clearing the way for the immediate launch of the $2.6 billion project.
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Board of Directors & Membership Meeting

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Board of Directors & Membership Meeting

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Last Updated on Tuesday, 01 February 2011 09:48
 

Professional Masters Program Participants Aim to Improve Tourism

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Tourism InitiativeTop industry professionals in the Revans University Hospitality & Tourism Professional Masters program met at The Bahamas Hotel & Tourism Association to present and discuss individual project proposals aimed at addressing critical issues in their respective fields within the country's Hospitality Industry.

These industry professionals are part of a new professional development program launched in The Bahamas by Revans University, England and the International Management Centres Association Socrates (IMCA) with the support of The Bahamas Hotel Association (BHA) and with approved registration by The Bahamas Ministry of Education, Tertiary/Quality Assurance Division.  

Last Updated on Monday, 31 January 2011 08:27 Read more...
 


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