Wednesday, Jan 29, 2020
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Bloomberg: Brookfield exploring sale of Atlantis

Entities continue to remain mum on the issue of a possible sale of Atlantis, after reported Thursday that current owner Brookfield Asset Management is exploring the sale of the mega resort.

This is the second time rumors of Brookfield’s interest in divesting itself of the resort have been floated. Brookfield and Atlantis executives have yet to confirm that Atlantis is up for sale.

Bloomberg said its confidential sources revealed that “the firm (Brookfield) is working with an advisor to solicit potential interest in the sprawling resort, which includes multiple hotels, a casino and more than ten swimming pools”.

The Bloomberg article said Brookfield declined to comment on the matter when asked.

Seven years ago Brookfield took over the management of Atlantis and other Paradise Island assets such as the One and Only Ocean Club and the Hurricane Hole Marina, previously held by original owner Kerzner International.

Brookfield then sold One and Only Ocean Club and recently sold the Hurricane Hole Marina, which is currently being developed by Sterling Global Financial.

Atlantis continues to upgrade and improve its property, with the company telling Guardian Business earlier this month that room renovations at The Reef were complete at the end of March this year, and renovations to the lobby are expected to be completed by mid-September. Phase one renovations to the Royal Towers East tower are set to begin on August 12 and should be completed for the Christmas season.

The resort reported strong occupancies in the mid-nineties for the Fourth of July holiday and is expecting the remainder of the summer to trend in a positive direction.

Chester Robards

Senior Business Reporter at The Nassau Guardian
Chester Robards rejoined The Nassau Guardian in November 2017 as a senior business reporter. He has covered myriad topics and events for The Nassau Guardian.
Education: Florida International University, BS in Journalism
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