SAN JUAN – The HVS Capital group announced on Tuesday that the Grand Lucayan Resort, the largest in Grand Bahama, is being sold in a sealed bid auction.
The bidding for one of the main resorts in The Bahamas, owned by a subsidiary of Hong Kong-based Cheung Kong Property Holdings, will be open until June 10, 2016, and the assets could all be bought, the firm said in a statement.
Although no specific reasons were given for the sale of the 1,271-room resort, HVS Capital representative Stan Kozlowski said that they “see significantly more favorable economic investment opportunities for Grand Lucayan, no matter what options a potential buyer may consider.”
“There are a number of investment opportunities for an interested buyer,” said Mike Sullivan, a representative of HVS Capital Corp.
Sullivan added that “some of those options include expanding and/or relocating the casino, converting additional accommodations to an all-inclusive product or converting some accommodations to vacation or whole ownership.”