Grand Lucayan had $1 million per month in bills while closed

The Grand Lucayan resort, which is reopening its Lighthouse Point hotel today after one year closed due to the COVID-19 pandemic, has been bleeding $1 million per month while earning no revenue, Chairman of the Board of Lucayan Renewal Holdings Michael Scott, QC said yesterday.

Scott, who spoke to members of the media yesterday, outlined that 40 percent of those costs are simply to keep the power on to avoid any other problems, such as mold growth.

“These things are unavoidable costs,” said Scott.

He added that the resort’s bookings have been “modest”, but are expected to grow as marketing and promotion picks up.

He added that about 37 employees will return to work, growing to 50 or 60 as bookings pick up over the next few days.

“I’m very pleased to state that we are, at last after having threatened to do it before, we will be reopening our doors tomorrow with a view to, one, not allowing this hotel property to languish any further,” he said.

“I was the last person to want to shut it down when we got caught up with the pandemic, but now we’re coming out of it, we’re pleased to open and get economic activity started again in the Port Lucaya area.

“We’ve had requests, we’ve had expressions of interest in use of the facilities like the convention center to hold functions and we expect that in April we will be well on our way.”

Scott said he has urged the incoming staff to get vaccinated, contending that reaching herd immunity is the country’s best way to reopen safely.

“It is important that everybody who is offered a vaccine gets vaccinated as soon as possible,” said Scott.

“As soon as your turn comes, I’ve said to them to please get vaccinated. We need to reach herd immunity, that is the only way that any country, not just The Bahamas, any country anywhere in the world, is going to be able to safely reopen its borders.”

Scott added that the hotel “has no interest in legacy employees”, only people who are motivated to work.

“As they say, nowhere to be and nothing to do. I expect people to work the same way I work and that is to be motivated. I just want to get the best, that’s my sole hiring criterion.”

Scott said the hotel has no agreements with any unions and does not intend on entering any agreements. He said the new owners of the hotel will deal with those matters when it is sold.