Confirmation is in that a joint venture agreement has been made between Baha Mar Resorts Ltd. and a subsidiary of Harrah’s Entertainment to develop one of the largest destination resorts in the Caribbean, Baha Mar. Located in Nassau, Baha Mar will include hotels under Starwood’s W, St. Regis, Westin and Sheraton brands. This is a huge coup for the Bahamas since it is expected that the development will “directly and indirectly sustain over 7,000 jobs, generate more than $4.7 billion in incremental tax revenues, and contribute $11.2 billion to The Bahamas’ Gross Domestic Product over the next 20 years”.
January 18, 2007
$2bn investment in Baha Mar in the Bahamas
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