Bimini Bay, Bimini- Developers of Bimini Bay signed a deal with the Hilton yesterday to manage a new hotel that will be built on their property.
The completion of the new hotel- Conrad at Bimini Bay- would conclude the first of five phases of development, and would represent some $200 million in investments so far.
“This means a great deal,” said Gerardo Capo, developer and Chairman of the Bimini Bay project. He indicated that this move could increase healthy competition for tourism throughout the Bahama Islands, but especially those islands currently experiencing the economic blues. The logic is that high-end investors would be impressed with the success of his development’s partnership with the Hilton Hotel.
“Once the project takes off and starts seeing success, it would entice many other investors throughout the world to come and invest money and to do similar things in other islands of The Bahamas,” Mr Capo added.
More importantly, with a first-rate reputation worldwide, the developers are confident that the Hilton would attract wealthy tourists to Bimini.
Sean Grimberg, Vice President of the Bimini Bay development company, suggested that the Hilton was the hands-down-best-option to manage Bimini Bay’s hotels and condos. “They bring things to the plate that others can’t bring,” he said.
The developers felt the Hilton’s unique brand would attract scores of visitors to the Conrad, which is the five star brand of the Hilton. Mr Grimberg said, “You’re going to have a tremendous amount of people coming here renting out condos and hotel rooms, and only a brand as strong as the Hilton’s can fill room nights.”
Additionally, it is anticipated that the Conrad would keep tourism booming on the island year-round. The developers of Bimini Bay are targeting Mid-west U.S.A. and European markets to keep occupancy rates high outside of summer, as it is hoped travellers from those countries would flock there during the winter months.
Although the developers did not disclose the value of the contract between Bimini Bay and the Hilton, such a lucrative deal was speculated to be worth over a million dollars. The developers emphasised however that the deal was not just about the Hilton’s brand name, but represented “so much more”.
Overall, Mr Capo said that the benefits of the corporate partnership with the Hilton would also be extended to Biminites. “It would transform into wealth for the entire island,” he said.
The deal for the Hilton to manage and operate the Conrad was signed in Mr Capo’s hometown in Miami.
By: Barry Williams, The Nassau Guardian
