George Markantonis on market oversaturation
President and Managing Director of Kerzner International Bahamas George Markantonis briefly spoke on expansion plans for Atlantis and commented on the possibility of oversaturation in the resort market.
“We’re not building any more rooms in 2011-2012. We’re going to have to see what makes sense. it’s very hard to speak right now because we don’t fully know what new developments are going to be taking place in the city. There’s plenty of land for expansion… but there is the phrase’oversaturation’. We may be in that position in the high-end market with Baha Mar coming on stream. So we’ll have to wait and see. We’re targeting Atlas, but we havent finalized that. In 2011 we want to fix up the casinos. We have a lot of projects.”