Hotel News

Bahamas Resort May Soon Be On The Market

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PROPERTY GROUP Harcourt Developments is said to be considering the sale of a Bahamas resort it bought in 2007 but left undeveloped because of the property market collapse.
Last Updated on Thursday, 17 February 2011 14:37 Read more...
 

Tourism Industry Scholarships Available

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The Caribbean Hotel and Tourism Association Education Foundation is Accepting Scholarship Applications for Students, Employees and Educators for their 2011 Awards. 

Thanks to BHA Member support we presently have four Bahamians attending Johnson and Wales and Florida International University under this scholarship program.  The total value of their awards is $54,000.
 
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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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