{"id":15788,"date":"2011-12-02T09:00:08","date_gmt":"2011-12-02T14:00:08","guid":{"rendered":"http:\/\/www.bahamasb2b.com\/news\/?p=15788"},"modified":"2011-12-02T09:00:08","modified_gmt":"2011-12-02T14:00:08","slug":"something-fishy-with-atlantis-deal","status":"publish","type":"post","link":"https:\/\/www.bahamasb2b.com\/news\/2011\/12\/something-fishy-with-atlantis-deal","title":{"rendered":"Something &#8216;Fishy&#8217; With Atlantis Deal?"},"content":{"rendered":"<figure id=\"attachment_15794\" aria-describedby=\"caption-attachment-15794\" style=\"width: 250px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-15794\" title=\"khaalis-rolle\" src=\"https:\/\/www.bahamasb2b.com\/news\/wp-content\/uploads\/2011\/12\/khaalis-rolle-250x187.jpg\" alt=\"Khaalis Rolle\" width=\"250\" height=\"187\" srcset=\"https:\/\/www.bahamasb2b.com\/news\/wp-content\/uploads\/2011\/12\/khaalis-rolle-250x187.jpg 250w, https:\/\/www.bahamasb2b.com\/news\/wp-content\/uploads\/2011\/12\/khaalis-rolle-150x112.jpg 150w, https:\/\/www.bahamasb2b.com\/news\/wp-content\/uploads\/2011\/12\/khaalis-rolle.jpg 350w\" sizes=\"auto, (max-width: 250px) 100vw, 250px\" \/><figcaption id=\"caption-attachment-15794\" class=\"wp-caption-text\">Khaalis Rolle<\/figcaption><\/figure>\n<p>Khaalis Rolle, former Bahamas Chamber of Commerce president yesterday said the  details surrounding Kerzner International&#8217;s $175 million debt-for-equity  swap did not &#8216;add up&#8217;. Rolle questions how the new owners can see a  return on their Paradise Island assets unless there are changes in the operational\/business model.<\/p>\n<p>Mr Rolle, who emphasized that he was not speaking as the PLP&#8217;s Pinewood candidate, questioned how Atlantis and the One &amp; Only Ocean Club could generate the level of profitability likely expected by Brookfield  Asset Management, especially since another layer of costs was being added  through Kerzner International&#8217;s management fee.<\/p>\n<p>Rolle pointed out that most\u00a0 businesses change after new owners  take over, especially under circumstances such as those that forced  Sir Sol Kerzner to transfer ownership of  Atlantis and the One &amp; Only Ocean Club in an effort to address their $2.6 billion debt mountain.<\/p>\n<p>Essentially, the former Chamber president is arguing that the &#8216;business  as usual&#8217; impression being conveyed by Kerzner International and  Brookfield does not square with the current business reality, where the  resorts need to go and Brookfield&#8217;s expectations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Former Bahamas Chamber of Commerce president, Khaalis Rolle says that details of Kerzner International&#8217;s $175 million debt-for-equity swap do not &#8216;add up&#8217;.<\/p>\n","protected":false},"author":17,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10223285771444175_51037792744":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[3],"tags":[109,153,98,152,288,33],"class_list":["post-15788","post","type-post","status-publish","format-standard","hentry","category-business","tag-atlantis","tag-business-2","tag-financial","tag-hotel","tag-resort","tag-tourism"],"_links":{"self":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/15788","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/comments?post=15788"}],"version-history":[{"count":0,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/15788\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/media?parent=15788"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/categories?post=15788"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/tags?post=15788"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}