The resort, which is operated by a local unit of Hong Kong’s Chow Tai Fook, was scheduled to open with about 1,000 rooms. Prime Minister Perry Christie officially handed over the company to the CTFE, giving the company a certificate of occupancy allowing the resort to host guests.
"Today Baha Mar is being transferred to a world class company, one that successfully manages prestigious hotels across the world, including three successful resorts in the Caribbean - one in Antigua, one in Bermuda and one in the British Virgin Islands,” Christie was cited as saying.
"This new owner has actually increased their capital marketing and pre-opening investment from US$ 200 million to US$ 250 million. We are grateful for such a strong level of experience and investment to usher in new opportunities for the Bahamian people,” he said.
Graeme Davis, president of CTFE Bahamas, said the company has been given the approvals to order the machines as the prior developer had the machines in place (and) training underway before their licence was received.
Chow Tai Fook stepped in to take control of the project last year after the original developer filed for bankruptcy in a Delaware court in 2015.
