Business

Christie: Several groups interested in Atlantis purchase

Former Prime Minister Perry Christie confirmed yesterday that several groups are interested in the purchase of Atlantis, adding that he is representing one of those groups.

Christie told Guardian Business that there is considerable interest in the purchase of the mega resort, which is owned by Brookfield Asset Management.

Brookfield remains mum on the issue of a possible sale of Atlantis.

“Atlantis is being looked at by any number of groups,” said Christie.

This paper understands that Brookfield is awaiting a suitable offer from the market.

Bloomberg.com reported     in July that Brookfield 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 in the year that room renovations at The Reef were complete at the end of March this year and renovations to the lobby are expected to be complete by mid-September. Phase one renovations to the Royal Towers East tower were set to begin in August and should be complete for this Christmas season.

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Chester Robards

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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