By NATARIO McKENZIE

Tribune Business Reporter

nmckenzie@tribunemedia.net

Atlantis needs to reward its 20-24 per cent repeat visitor ratio with product that is continually refreshed, the resort’s top executive disclosing it was investing $25 million to upgrade The Cove and Royal Towers.

Speaking at a recent Rotary Club of West Nassau meeting, George Markantonis noted that Atlantis has a capital expenditure budget of between $45-$65 million a year, with a ‘big chunk” of that being spent on maintenance and property upgrades.

“We are redoing our tower, the giant Royal Towers with 1,200 rooms,” the Brookfield Hospitality (Bahamas) chief said. “All the rooms will ready by the end of October this year.

“We would have completely refurbished that tower, and next year we will redo the entire Cove property. Those two towers between them are going to be about a $25 million rehab.”

Mr Markantonis said $20 million was being spent to refresh Atlantis’s casino, which will be complemented by the Olives restaurant headed by celebrity chef, Todd English.

The Olives restaurant is expected to open on July 8. In addition, Mr Markantonis said the martini bar will be turned into The Moon Club, which will open a week later.

“We are adding a new state-of-the-art race and sports book. We have partnered with Cantor Gaming, who does most of the ones in Las Vegas,” Mr Markantonis said. He estimated that 250 new Atlantis jobs would be created between June and September.

With a 20-24 per cent repeat guest ratio, Mr Markantonis said: “We need to make sure that every time they come back they can say: ‘Wow, that’s new.’ We are making sure the product is not sitting idly by, but is continuing to refresh itself, just like Disney and Universal does.”

Almost 43 per cent of Atlantis’s business is family-oriented, and Mr Markantonis said the resort has continued to refresh its offering by adding new attractions and amenities, such as slide attractions.

“We are adding sea lion interaction, pools and facilities. We have maximised with the dolphins,” he added. “Dolphin Cay is 11 acres.

“We brought in some sea lions we own. They have become more popular than the dolphin interactions. We have no space to accommodate the demand, so we are going to build a new sea lion attraction facility in the future.

“We are hoping to be able to build a facility for interaction with manatees, those that have been injured in the ocean and can’t be returned there. It’s not just about fun but it’s also about education.”