{"id":21186,"date":"2012-05-01T10:29:53","date_gmt":"2012-05-01T14:29:53","guid":{"rendered":"http:\/\/www.bahamasb2b.com\/news\/?p=21186"},"modified":"2012-05-01T10:29:53","modified_gmt":"2012-05-01T14:29:53","slug":"dubai-drops-250m-for-full-control-of-atlantis","status":"publish","type":"post","link":"https:\/\/www.bahamasb2b.com\/news\/2012\/05\/dubai-drops-250m-for-full-control-of-atlantis","title":{"rendered":"Dubai Drops $250M For Full Control of Atlantis"},"content":{"rendered":"<figure id=\"attachment_21190\" aria-describedby=\"caption-attachment-21190\" style=\"width: 244px\" class=\"wp-caption alignleft\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-21190\" title=\"atlantis-dubai\" src=\"https:\/\/www.bahamasb2b.com\/news\/wp-content\/uploads\/2012\/05\/atlantis-dubai.jpg\" alt=\"Atlantis Dubai\" width=\"244\" height=\"183\" srcset=\"https:\/\/www.bahamasb2b.com\/news\/wp-content\/uploads\/2012\/05\/atlantis-dubai.jpg 244w, https:\/\/www.bahamasb2b.com\/news\/wp-content\/uploads\/2012\/05\/atlantis-dubai-150x112.jpg 150w\" sizes=\"auto, (max-width: 244px) 100vw, 244px\" \/><figcaption id=\"caption-attachment-21190\" class=\"wp-caption-text\">Atlantis hotel on Palm Jumeira Island in Dubai, United Arab Emirates<\/figcaption><\/figure>\n<p>Dubai says it now has full control of the Atlantis resort hotel perched atop its palm-shaped island.<\/p>\n<p>State-run  investment firm Istithmar World said late Friday it paid $250 million  to buy out financially troubled business partner Kerzner International  Holdings Ltd., which had held a 50 percent stake in the coral-colored  hotel. Istithmar already owned half of the property.<\/p>\n<p>Kerzner will continue to operate the resort, which includes a waterpark and 18 restaurants, Istithmar said.<\/p>\n<p>It  agreed to give up its stake in the Dubai property and a similar resort  in the Bahamas after struggling to restructure $2.6 billion in debt.  Canada&#8217;s Brookfield Asset Management acquired the Bahamas property in a  previously announced deal by agreeing to waive $175 million in debt owed  by Kerzner.<\/p>\n<p>Kerzner said it plans to use proceeds from the Dubai sale to reduce its debt load.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Dubai says it now has full control of the Atlantis resort hotel perched atop its palm-shaped island after paying $250 million to buy out their financially troubled business partner Kerzner International Holdings Ltd.<\/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":[109,153,25,229],"class_list":["post-21186","post","type-post","status-publish","format-standard","hentry","category-business","tag-atlantis","tag-business-2","tag-hotels","tag-resorts"],"_links":{"self":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/21186","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=21186"}],"version-history":[{"count":0,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/21186\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/media?parent=21186"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/categories?post=21186"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/tags?post=21186"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}