Baha Mar Chairman Talks About Bahamas, Resort Project
-- Hotels, 2/6/2009 11:47:00 AM
NASSAU, THE BAHAMAS (January 19, 2009) – Chairman and CEO of Baha Mar Resorts Ltd., Sarkis Izmirlian, was a featured speaker at the 18th Annual Bahamas Business Outlook conference addressing attendees on the critical national priorities for a strong economic rebound in The Bahamas. The conference, which was held at the Wyndham Nassau Resort & Crystal Palace Casino on January 15, 2009, is the Bahamas’ premiere business forum held annually in Nassau and the islands of Grand Bahama, Abaco and Exuma.
Izmirlian, who is also the driving force behind the proposed Cable Beach redevelopment project, addressed the audience which consisted of more than 400 local business leaders. From the viewpoint of a private investor doing business in The Bahamas, Izmirlian spoke on the importance of a strong partnership between the public and private sectors in order to improve overall tourism to the destination, and move forward with the planned Cable Beach mega-resort, Baha Mar.
“As the country continues to grow, we will need to encourage massive investment to develop our tourism and physical infrastructure,” said Izmirlian. “Government must set policies and take actions which will assure the world’s investors that The Bahamas is a prudent place to invest and do business.”
Izmirlian advised that the world would recover from the economic turndown and “The Bahamas needs to be ready when it does.” In the meantime, he recommended that the private and public sector focus on initiatives that will ultimately help the destination prepare and prosper during those better times ahead. These include providing young Bahamians with the tools needed to succeed and build self-worth; offering on-the-job training for all employees working in the travel and tourism sector; and working toward self-improvement by making the necessary enhancements to ensure island travelers have seamless, quality, memorable experiences throughout their stay.
Regarding the Baha Mar mega resort project, Izmirlian admitted the project is not where he would like it to be, but is proud of all that has been achieved to-date since the purchase of the Cable Beach assets, which include the Wyndham Nassau Resort & Crystal Palace Casino, Sheraton Nassau Beach Resort and Cable Beach Golf Club. Almost $150 million has been invested into upgrading the beachfront properties.
“We remain committed, despite the world recession, to make Baha Mar a reality and we hope that in partnership with the government we can still achieve our goals,” he said.
Baha Mar Resorts is currently in discussion with Chinese investors regarding the future of the mega resort project. Later this month, the company will host an important delegation from China visiting The Bahamas to continue talks.
“Our Chinese friends have recognized that the current slowdown provides us with a once in a lifetime opportunity to build this project at a greatly reduced cost, and be ready to open when the recession ends and the world recovers. As we move ahead, I look forward to being guided by their wisdom and long term strategy.”
Izmirlian ended by saying that the economic turndown should also be seen as an opportunity to reexamine the way business is done in The Bahamas and encouraged the public and private sectors to commit to improving the destination’s business strategies, education, infrastructure and public safety so that The Bahamas remains on course for a prosperous future.
About Baha Mar
Sarkis Izmirlian is the visionary and developer of the planned Baha Mar Resort, a world-class destination resort project. Baha Mar’s principals also own the current Sheraton Nassau Beach Resort, Wyndham Nassau Resort, Crystal Palace Casino, and Cable Beach Golf Course. Baha Mar Resorts is headquartered in Nassau, The Bahamas. For further information, visit www.BahaMar.com. Baha Mar is a trademark and service mark of Baha Mar Resorts Ltd.
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