Grand Lucayan VSEP payouts expected soon
Line staff at the Grand Lucayan resort who accepted the government’s voluntary separation packages (VSEP) will soon receive their payouts, Minister of Labour Dion Foulkes said yesterday.
In November, Foulkes said payouts for the employees were expected to be completed by Christmas.
But he said yesterday, “There was a delay in having that transfer from the Consolidated Fund to the board.”
He continued, “…But I understand that was done last week, and hopefully very soon the employees at [Grand Lucayan] will be able to get their settlement packages.”
The government purchased the Grand Lucayan resort last year for $65 million. It hopes to find a qualified buyer for the resort.
Following the purchase, more than 200 employees applied for the VSEPs.
Foulkes said, “We had a delay with the settlement packages with the employees at [Grand Lucayan] mainly because of the whole question of funding and having the monies transferred from the public treasury over to the governing board, which is chaired by Mr. Michael Scott.”
The Nassau Guardian understands that approximately 130 line staff employees are set to receive the packages and will collectively receive an amount that totals in the low seven figures.
The resort currently employs just over 400 people.
Attorney Obie Ferguson, president of the Bahamas Hotel Managerial Association, has said that 90 of the 115 managers applied for packages.
He said they are collectively entitled to between $3 million and $3.5 million.
When asked for an update on the VSEPs for the managers, Foulkes said, “We have not settled with the managerial staff. We are still in talks with them.”
Last month, Minister of Tourism Dionisio D’Aguilar said it is expected that the resort properties will be sold by the second quarter of 2019.
D’Aguilar said yesterday that the government is in talks with eight interested buyers.