Despite worries raised earlier this year, Kerzner International CEO Butch Kerzner said Wednesday that he is not concerned about the possible impact a billion-dollar investment in Cable Beach would have on Paradise Island.
In May, he said, ﾓCable Beach has been able to go very strongly after the mid market when they reinvested in their product and I think that if they continue to reinvest in their product and continue to create a product that can go after the mid market segment, thatﾴs great for us. Thatﾴs great for the destination.ﾒ
He advised then that a sensible approach ought to be taken to the development of the Paradise Island and Cable Beach destinations.
But on Wednesday, Mr. Kerzner said that officials at his company were determined to keep their ﾓeye on the ballﾒ and were not focused on what was taking place on Cable Beach.
ﾓOur focus is doing the right things on Paradise Island,ﾒ he said. ﾓWe canﾴt control what happens anywhere else. I think that over time if more investment takes place on New Providence thatﾴs a good thing. We saw after we built phase one and phase two kind of a reinvestment on some of the properties on New Providence. That was good for them, that was good for us. It helps bring in more airlift.ﾒ
Mr. Kerzner said Kerzner International looks forward to more investments on Cable Beach and New Providence.
Prime Minister Perry Christie, who joined the Kerzners for the turning of the soil to break ground for phase three, also indicated that he had no concerns about unhealthy competition between Cable Beach and Paradise Island.
ﾓAs I understood it, [Kerznerﾴs] competitors are Disney at Orlando and Las Vegas and thatﾴs what they said when they moved through phase two and thatﾴs what I understand with phase three,ﾒ he said. ﾓTheyﾴre pitched at that level out there.ﾒ
Mr. Kerzner said that is precisely why his company is now positioning itself to attract high-end clientele at the top of the mass market.
This essentially means that Kerzner will develop a ﾓhaven of exclusivityﾒ in the heart of Atlantis, he said.
ﾓI think if you were to Vegas today [youﾴll see] there is a very big step up in the type of room product thatﾴs happening and for us to kind of rest on our laurels and not react to what is a kind of new reality and just keep our heads in the sand doesnﾴt make any sense,ﾒ Mr. Kerzner said. ﾓWeﾴve got to know whatﾴs going on and weﾴre responding to it.ﾒ
Candia Dames, The Bahama Journal
