Kerzner International Chairman Sol Kerzner believes that the billion-dollar Baha Mar development planned for Cable Beach would complement his luxury Atlantis Resort on Paradise Island.
Atlantis is undergoing a billion-dollar expansion, which will include a 600-room luxury all-suite hotel; a 400-unit condo hotel; a significant expansion to Atlantis’s water-based attractions, development of 100,000 square feet of additional group and meeting facilities, and additional timeshare phases.
It also includes the Marina Village at Atlantis, which was officially opened over the weekend amid a celebrity-filled three-day celebration.
Last year, Mr. Kerzner’s son, Butch, who is the CEO of Kerzner International, had expressed concerns about Baha Mar going after the same market as Atlantis.
At the time, Butch Kerzner said, “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, that’s great for us. That’s great for the destination.”
He said there would be a “bloodbath” if both properties target the high-end market.
Amid growing controversy over those comments, he later said that Kerzner International was not concerned about what Baha Mar was doing, but instead was focused on completing Phase III on schedule for the 2007 opening.
On Friday night, Mr. Kerzner said that Atlantis is competing with the Disneys of the world.
It was something his father repeated when he spoke with The Bahama Journal on Sunday.
“We [don’t] see ourselves competing in The Bahamas,” Sol Kerzner said.
“I think I’ve always said since we came here that Paradise Island and The Bahamas have got to become-a major destination resort, internationally renowned and I think that’s where we’re at.
“So consequently with Cable Beach I think whatever is done – if it’s done well – I think it would just really add to the attractiveness of The Bahamas and Nassau/Paradise Island.”
Sol Kerzner added, “I’m not concerned. We’re going ahead; we’re moving ahead. Hopefully government will move ahead with the promotion of tourism as well so I think there’s a bright future.”
Baha Mar, which has still not yet announced a hotel partner, was expected to have done so by the end of August, Prime Minister Perry Christie said during the heads of agreement signing for the Cable Beach development back in April.
Baha Mar has committed to constructing or refurbishing quality facilities including: a 1,000 room casino hotel with a 75,000 sq. ft. casino; a renovated and expanded 1,000 room convention hotel at Radisson Cable Beach Resort, and a new 300 room luxury hotel.
The company has also committed to renovating 400 rooms at the Nassau Beach Hotel; creating 100,000 sq. ft. of convention space; world-class attractions and amenities; and other residential resort offerings, including a mixed-use village and marina at a site to be agreed.
Kerzner and Baha Mar recently announced that they have teamed up for an apprenticeship programme to help Bahamians become better qualified to meet the construction needs that will arise as a result of their mega developments.
They indicated that the initiative is a significant one. Many of the contractors and trades people who are expected to work on the Atlantis expansion are expected to be available for the start of construction of Baha Mar in 2007 when Atlantis Phase III is completed.
Prime Minister Christie has said that the timing of the start of the Baha Mar construction is no coincidence as the government and Baha Mar wanted to be sure that the Cable Beach developers do not compete with Kerzner for skilled workers.
Government officials had repeatedly expressed concerns about the shortage of labour in the country and view the apprenticeship programme as an important way to address the dilemma.
On Sunday, The Bahama Journal asked Sol Kerzner whether he was already thinking about Atlantis Phase IV.
Mr. Kerzner said he was taking one step at a time. But he said with a smile, “The best is yet to come.”
By: Candia Dames, The Bahama Journal
