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Monday, June 22, 2026
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LESLIA MILLER-BRICE
DR ANDRE ROLLINS
Royal Caribbean closes $30m Xanadu purchase BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net ROYAL Caribbean has closed its $30m acquisition of Freeport’s long-shuttered Xanadu Beach Hotel, it has been revealed, and is near to completing the purchase of adjoining land parcels from the Royal Oasis owner. Well-placed Tribune Business sources, speaking on condition of anonymity, told this newspaper that the cruise giant closed the resort’s purchase from the family of late businessman, Mario Donato, at the end of May 2026 as part of its ambitions to establish a private Grand Bahama destination for its passengers that will be similar to both its own Royal Beach Club on Paradise Island and Carnival’s $600m Celebration Key project. And Royal Caribbean is also understood to be in the final stages of completing its separate deal with Harcourt Developments, the Irish-headquartered property developer that owns the Royal Oasis, and its financiers to complete the necessary land
Completes long-shuttered hotel’s acquisition at end-May ‘Very close’ to buying 10 acres from Royal Oasis owner Cruise line says: ‘We continue to explore future projects’ assembly for a development that the Central Bank last year said involves a $348m investment. Royal Caribbean, in a guarded response to Tribune Business inquiries, neither confirmed nor denied the Xanadu’s purchase had closed but signalled that it is making moves. “We are always assessing our portfolio and continue to explore future projects to offer the best vacation experiences for our guests and drive economic growth in the communities we visit,” a Royal Caribbean Group spokesperson said. However, it was confirmed to this newspaper that Royal Caribbean
FNM MP: Gov’t reversal on ‘invalid’ conveyances BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Government has performed an abrupt u-turn on reforms enacted just 12 months ago that made a real estate conveyance “invalid” until it was recorded in the Registry of Records, an Opposition MP is asserting. Adrian White, the Free National Movement (FNM) MP for St Anne’s, told Tribune Business that legislative amendments quietly introduced during the 20262027 Budget debate reduce the “risk” associated with real estate transactions by reverting to the pre-July 1, 2025, position where conveyances are recognised as
ADRIAN WHITE valid and legally binding at the time of signing and execution - not when they are recorded. “The one thing that stood out to me in the legislative amendments, not one that
AMEND - See Page B7
Auto dealers chief: ‘Nice to avoid confusion’ over titles BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE Bahamas Motor Dealers Association’s (BMDA) president says “it would be really nice to avoid confusion and uncertainty” as he pleaded with the Government to consult the industry over planned vehicle title certificate reforms prior to their July 1 implementation. Ben Albury, also Bahamas Bus and Truck’s general manager, told Tribune Business that the sector is seeking to avoid being “blindsided or caught
BEN ALBURY off guard” amid the lack of clarity over how the legal requirement for all imported vehicles to obtain a title certificate before they
CONSULT - See Page B4
is the new owner of the Xanadu and 18 associated acres since the beginning of this month. “The property has changed hands. It’s all done. It’s all up to them now,” one contact said of the cruise line. “It was $30m, and they also bought 18 acres.” Tribune Business understands that the cruise line and its high-end affiliate, Celebrity Cruises, are in the final phase of acquiring around a further ten acres from Harcourt Developments, which owns multiple land parcels running down to Princess Isle. These will be combined with the Xanadu to create a 28-acre beach break and entertainment destination
catering to the cruise line’s passengers. Well-placed sources confirmed to this newspaper that the Harcourt Developments part of the transaction is now just awaiting sign-off and execution of the necessary documents. “I believe the Xanadu hotel is closed,” one said. “I believe the other lands on Xanadu Beach are very close to being closed. I believe the documents have been sent to Europe, and it’s very close if not closed already. If it hasn’t closed, it’s very close.” However, the contact tempered expectations by predicting that Royal Caribbean will take its time to develop the project and any development is unlikely to be completed until 2028 at the earliest. The cruise giant is also involved, and remains a partner in, plans to upgrade Freeport Harbour’s berthing capacity alongside Mediterranean Shipping Company (MSC), which is investing $450m to develop Billy Cay into a tourism destination.
DEAL - See Page B6
Web shop formerly headed by minister’s spouse tied to $3m business incubator BY NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A WEB shop operator, formerly headed by the husband of a now-sitting Cabinet minister, is working with the Government to develop the $3m Business Innovation Centre located on Freeport’s East Mall Drive. An affiliate of Asure Win was identified in the House of Assembly on Thursday night as the private sector partner in a venture that is being partially funded by the Saudi Fund for Development - the investment fund owned and controlled by the Saudi Arabian government. Leander Brice, spouse of Leslia
Miller-Brice, minister of culture, arts and heritage, was the president and chief executive of Asure Win at the time the deal was struck, although he later resigned from these posts. Asure Win’s connection to the project, which is designed to foster and develop entrepreneurial ventures and start-ups in the tourism industry, emerged during probing by Opposition MPs during the debate on the 2026-2027 Budget’s funding allocations for various ministries and departments. Dr Andre Rollins, the Free National Movement (FNM) MP for Long Island, said disclosure of
DEVELOP - See Page B7