PM DAVIS: NEW Meliá Hotel and new condo-hotel, shows how long-term partnerships can foster sustainable development that benefits…
PM DAVIS: Ladies and gentlemen,
Today marks the beginning of an exciting new chapter for Baha Mar, one that underscores the strength of our nation’s tourism industry and its incredible potential.
The expansion of Baha Mar, with its continued investment in the development of Cable Beach, is a shining example of how we continue to attract significant global investment. This project represents a commitment to the ongoing growth of our economy and the enduring confidence investors have in The Bahamas.
From developing a new condominium-hotel complex to expanding world-class amenities like the Baha Bay waterpark and the new pier facilities, this expansion will further elevate Baha Mar’s already outstanding reputation as a premier destination. These initiatives will enhance guest experiences and create hundreds of new jobs for Bahamians, ensuring that Baha Mar continues to be a key driver of our economic success.
This dawn of a new chapter for Baha Mar is a signal to the world that The Bahamas is open for business, ready to embrace new opportunities, and steadfast in our vision of sustainable growth.
Baha Mar’s continued growth is a powerful demonstration of what can be achieved through true partnership.
Since its inception, this project has been a collaborative effort between government and private sector stakeholders, and the results speak for themselves.
This expansion reaffirms the strength of our relationship with CTF BM Holdings and its parent company, highlighting their deep-rooted commitment to our country’s development. The $554 million capital investment into this phase, along with the redevelopment of the Meliá Hotel and new condo-hotel, shows how long-term partnerships can foster sustainable development that benefits both investors and the people of The Bahamas.
Let this be a model for future projects—where collaboration, mutual respect, and shared goals can unlock extraordinary potential.
Today’s signing is a clear vindication of the strength and resilience of our tourism industry and economy and a reminder of the opportunities ahead.
As we continue to build and expand, it is clear that, to further solidify our position as a premier destination, we need more room inventory and increased airlift to match growing demand.
With Baha Mar’s expansion, we are adding crucial room inventory to cater to more guests, bringing more “heads in beds,” and ensuring that we continue to attract a higher volume of stopover visitors. But, as we add these rooms, we must also work in parallel to increase airlift to The Bahamas. Ensuring more direct flights, with greater frequency, from key international markets is essential to sustaining this growth.
Friends, we are entering a brave new era. An era defined by the remarkable investments we see today and the full maximization of Bahamian potential.
While we celebrate the expansion of Baha Mar and welcome new investments, what matters most to me is ensuring that Bahamians are not just participants, but leaders in our tourism industry.
As we continue to attract the world to our shores, we must open doors for Bahamian leadership at the highest levels. We need to guarantee that Bahamians are fully unhindered in their involvement, steering the future of tourism in The Bahamas.
I extend my deepest thanks to Deputy Prime Minister Chester Cooper for his unwavering leadership in driving our tourism growth. His vision and commitment have helped ensure that The Bahamas remains a premier destination for travelers and investors alike.
I also want to thank the Director of Investments Phylicia Woods-Hanna and her hardworking team for making today’s event a reality. Their dedication has been instrumental in bringing us to this pivotal moment in our nation’s journey.
I’d also like to thank Kar Shun Cheng (Henry), the chairman of CTF BM Holdings for his continued expression of confidence in The Bahamas.
Thanks as well to the Baha Mar team, headed by Graeme Davis, for their efforts in bringing us to this pivotal moment.
Together, we are charting a new course—one where Bahamians lead, invest, and prosper.
Thank you.
