By FAY SIMMONS

Tribune Business Reporter

jsimmons@tribunemedia.net

The Opposition is demanding answers from Prime Minister Philip Davis over the stalled $120m sale of the Grand Lucayan resort, with concerns mounting over unpaid vendor bills and a lack of progress on promised redevelopment plans.

The Opposition’s financial spokesman, Kwasi Thompson, pressed for clarity on when demolition will begin at the property and claimed that “hundreds of thousands” of dollars remain outstanding in payments to local vendors and contractors.

He described the government’s silence while small businesses await payment as “disgraceful”.

“This deal was trumpeted with great fanfare, yet months later it remains stalled, mired in silence, and continues to fail the Bahamian people. The Government announced that turnover of the property would occur in August. That deadline has come and gone with no explanation, no progress, and no accountability,” said Mr Thompson.

“From the outset, the Opposition has raised critical questions. Why has demolition not begun? Why has the hotel quietly extended reservations into December, and how does this affect the promised demolition timeline? Who is responsible for paying the hotel’s vendors and suppliers, and why are hard-working Bahamian businesses still owed hundreds of thousands of dollars?

“Is it even true, as has been reported, that the hotel owes thousands to the very security company charged with protecting the property? These are not small matters. Local vendors, contractors, and small businesses are being left in the cold while the government remains silent. This is disgraceful.”

Mr Thompson further questioned how vendor debts remain if, as previously stated by the Davis administration, the government had ceased all financial responsibility for the resort.

He pointed to a public commitment made by the Office of the Prime Minister earlier this year, which stated that the financial burden of maintaining the Grand Lucayan would no longer fall on taxpayers.

“Even more disturbing, the Office of the Prime Minister declared earlier this year: “From this point forward, all expenses associated with the property will be assumed by the developer. This is a significant shift in fiscal responsibility, as the government had been paying approximately $1.5 m per month over the past three years — amounting to an estimated $63m in holding costs,” said Mr Thompson

“If this statement was true, why are bills still outstanding? Why are questions now swirling about whether the government continues to pay? And if so, from where, given that no such allocation exists in the national budget?”

He said the Opposition “will not relent” until the Davis administration comes clean and accused them of giving “broken promises and mounting debt”.

According to Mr Thompson, the lack of transparency surrounding the deal has left the public in the dark, while the government continues to offer no clear answers about the status of the property, the sale, or the ongoing financial obligations.

He said the people of Grand Bahama are being forced to bear the consequences of what appears to be another failed promise by the administration.

“The people of Grand Bahama deserve the truth. Instead, they are left with delays, confusion, and a hotel that continues to drain public resources. The Davis administration must come clean. Bahamians were promised renewal and real progress. What they have been given is, yet another PLP failure marked by silence, broken promises, and mounting debt,” said Mr Thompson.

 “The Opposition will not relent. We will continue pressing until the people of Grand Bahama and the entire Bahamas get clear, honest answers. What exactly is happening at the Grand Lucayan?

Opposition leader Michael Pintard has also reiterated calls for transparency, acknowledging the significance of the deal for Grand Bahama’s economy but emphasising that Bahamians deserve detailed information.

The Davis administration announced the sale in May to Ancient Waters Bahamas Ltd, a subsidiary of US-based Concord Wilshire Capital, which plans to invest $827m into redeveloping the Grand Lucayan property and the adjacent 160-acre Reef Golf Course.

The project includes new hotels, timeshare units, a cruise port, casino, mega-yacht marina, and redesigned golf course. Construction is expected to start within 90 days of permit approval, creating over 1,300 construction jobs and nearly 1,800 permanent positions once complete. The government has noted that the sale will relieve it of a $1.5m monthly carrying cost.