Business

High-end Goldwynn development restarts construction

The Wynn Group is anticipating a peak in demand for small, boutique properties at the end of the novel coronavirus (COVID-19) pandemic, putting its Goldwynn property, which has now resumed construction, in an advantageous position for when it opens in the spring of 2022, the company foreshadowed in a press statement.

The Wynn Group hailed the property’s construction restart as a positive step for over 125 Bahamians who are now back to work, after six weeks of stoppage due to the COVID-19 emergency orders.

“The Wynn Group is not only demonstrating its unwavering commitment to The Bahamas and continued confidence in the long-term outlook for the country, but more significantly, puts over 125 Bahamians back to work during this period of pronounced unemployment,” the statement noted.

Tourism pundits have suggested that when tourism centers reopen following the worst of the pandemic, the traveling public will likely choose smaller properties, where they can continue to social distance, as compared to mega resorts.

“Goldwynn will be particularly well-positioned to benefit from this impending renaissance as the industry trends towards smaller and more exclusive boutique hotel properties,” the statement pointed out.

The Wynn Group’s Vice President Randy Hart said in the press release that he is confident the country’s hospitality industry will rebound stronger after the threat of COVID-19 has passed. He revealed that though Goldwynn is now only concrete and bare steel, steps are being taken to bring the project in line with changing standards in health and safety due to the global viral outbreak.

“As the pandemic recedes, we foresee The Bahamas rebounding better and stronger and the hospitality industry experiencing a resurgence as suppressed global demand is released,” Hart said.

“Ever mindful of evolving customer expectations, we are already taking steps to adapt our hospitality model to better align with the emphasis on hygiene, online platforms and reduced customer interactions.”

Goldwynn’s Executive Director of Sales Matthew Marco said in the statement that he believes The Bahamas will be seen in the tourism industry as a “safe-haven destination”.

“As continued uncertainty and instability pervades the globe, I believe The Bahamas’ stature as a safe-haven destination for the world’s affluent only stands to be accentuated,” Marco said.

“The desire for refuge from the world’s congested and turbulent metropoles will be a harbinger of formidable demand in secondary home ownership market and permanent residency applications within our shores.”

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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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