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MONDAY, JANUARY 17, 2022

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Sir Sol’s equivalent a must for Lucayan By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net THE GRAND Lucayan must be acquired by a Sir Sol Kerzner equivalent to ensure long-term success, a hotelier said yesterday, arguing: “Business model is more important than cheque book size.” Magnus Alnebeck, the Pelican Bay’s general manager, told Tribune Business the Government must target a particular type of buyer if it wishes to revive Grand Bahama tourism - seeking out someone with the “vision and force” of the Atlantis developer or a Sandals, or a vertically integrated airlift, tour and hotel operator such as the Memories/Sunwing combination. Asserting that a “conventional hotel” deal, where a developer acquired the Grand Lucayan and partnered with a resort operator to brand it, was unlikely to succeed based on the property’s history, he said it was vital the Government

THE GRAND LUCAYAN focus on a buyer’s ability to make it a sustainable, long-term success rather than obsess over securing a $150m purchase price. Mr Alnebeck said a further “million dollar question” relates to Grand Bahama International Airport, which remains in a post-Dorian condition that Chester Cooper, deputy prime minister and minister of tourism, investments and aviation, recently said he was “embarrassed” by.

• Seek out Atlantistype developer or a Sandals, Gov’t told • ‘Business model more important than cheque book size’ • GB airport situation ‘million dollar question’ for any deal The airport remains a vital infrastructure asset in providing tourist access to the Grand Lucayan and the island’s wider tourism product. The Pelican Bay chief said any buyer for the hotel will “have a big say” in what happens to the airport, now owned and controlled by the Government, and will seek “guarantees”

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Bad weather cancels as many cruise calls as COVID’s Omicron By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net NASSAU Cruise Port’s top executive yesterday said it has lost more vessel calls to bad weather than the COVID Omicron variant with berth bookings “very solid” for the remainder of 2022. Michael Maura told Tribune Business that the Prince George Wharf operator had suffered “less than a handful of lost calls” as a result of the Ministry of Health and Wellness denying entry to cruise ships with a high number of onboard COVID cases, pegging the number at “less than three”.

MICHAEL MAURA This, he added, was equivalent to the number of cruise ship calls lost to bad weather since the New Year, and Nassau Cruise Port had offset those unable to enter due to COVID by

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Dive operator hopes cancellations don’t exceed 15% mark By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net A BIMINI dive operator is hoping COVID-related cancellations do not exceed the current 15 percent level with “40 percent of more” of annual business generated in the first three calendar months. Neal Watson, owner of Neal Watson’s Bimini Scuba Centre, told Tribune Business that Omicron-related booking cancellations by visitors were currently “noticeable but not devastating” to the business.

However, he voiced concern that the situation involving the Omicron variant will not get much worse, given that the three months to end-March typically account for the majority of the company’s revenues due to the popularity of shark diving and other excursions. “I feel like a lot of guests have called, maybe more than they ever did in the past, to say they’ve cancelled because they’ve tested positive for it,” Mr Watson told this newspaper.

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GREG LARODA

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KEN HUTTON

Dorian rebuild in question for 98% on tax break loss By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net SOME 98 percent of business and home owners in Dorian-devastated Abaco say reinstating 10 percent VAT on construction services will “significantly influence” whether they rebuild or not. A rapid-fire survey conducted by the Abaco Chamber of Commerce, conducted once it became known last week that the tax break had not been extended beyond New Year’s Eve 2021, revealed

• ‘Nothing can stand in way of recovery’ • GB Chamber chief urges ‘more clarity’ more than three-quarters of respondents - almost 77 percent - were either “very concerned” or felt its loss would prevent them from

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LPIA’S PARKING, GROUND TRANSPORT GOING CASHLESS ALL parking and ground transportation (PGT) operations at Lynden Pindling International Airport (LPIA) will this month begin the transition to a cashless environment, it was announced yesterday. The Nassau Airport Development Company (NAD), the airport’s operator, said in a statement that with effect from January 31, 2022, customer transactions in the domestic and international parking facilities will be processed using a valid debit or credit card. The change will also apply to persons processing payments for towed vehicles, and to ground transportation operators (livery/tour companies and taxi cab operators) paying to access parking facilities

and the commercial lane at the airport. Vernice Walkine, NAD’s president and chief executive, said the move to a cashless model for PGT operations is aimed at reducing security risks for its employees and to improve processing efficiency in these areas. Over the next several weeks, NAD will push a public awareness campaign about the impending changes, highlighting an alternative option for persons without access to debit or credit cards. “We recognise that a segment of our customer base may not have debit or credit cards available to process transactions for Parking & Ground Transportation services. Our

THE NASSAU Airport Development Company (NBAD) is to begin transitioning parking and ground transportation services to cashless at Lynden Pindling International Airport (LPIA). team has put a contingency plan in place to accommodate payment processing

BAHAMIAN CRYPTO EXCHANGE IN $2BN DIGITAL START-UP FUND

for persons who may find themselves in this position,” Ms Walkine explained. FTX Digital Markets, the Bahamas-headquartered cryptocurrency exchange, has set up a $2bn fund to invest in digital asset industry start-ups.

“We have engaged the services of an independent third-party vendor to provide a payment option. Starting this month, persons will be able to use their cash to purchase a debit card at Island Pay kiosks conveniently located in both domestic and international arrivals terminals.” Debit cards accessed through the kiosks can be used for parking and ground transportation payment processing at LPIA, and can also be used at more than 30m merchants locally and internationally where MasterCard is accepted. Customers can select card values ranging from $5 up to $500 based on what is required for the transaction.

Ms Walkine added: “As we make the transition to cashless operations in our PGT facilities, we want to assure the public that we are focused on making our facilities accessible to every customer even as we work to keep our team members safe. Please note that all other areas within our facilities will continue to operate with the payment options currently in place.” The airport management company believes the full transition to cashless parking and ground transportation services at LPIA will be completed by the end of the 2022 first quarter. For more information on the process, visit www.nassaulpia.com.

The move was confirmed by Amy Wu, who FTX has tapped to head the FTX Ventures fund. Its financing, according to a report in the Wall Street Journal, comes from the world’s third largest cryptocurrency exchange as well its founder, Sam Bankman-Fried. FTX Ventures will target investments ranging from as low as $100,000 to as high as hundreds of millions of dollars. Ms Wu told the paper that its funds could all be deployed by next year, depending on market conditions, with FTX Ventures especially interested in crypto gaming, insurance and security products. The comes as FTX Digital Markets announced a $1.1m donation to the newly-created Agricultural Development Committee, a non-profit NGO (nongovernmental organistion)

created to support agricultural initiatives aimed at addressing food security throughout The Bahamas. Leonardo Lightbourne, parliamentary secretary at the Ministry of Agriculture, Marine Resources and Family Island Affairs, affirmed the ministry’s support and thanked FTX for its contribution to food sustainability. The funding, he said, also assists the ministry in making agriculture more innovative and attractive to younger Bahamians. CEO of FTX Ryan Salame communicated his excitement for the project. Philip Smith, who has worked to eradicate hunger in the community through the Bahamas Feeding Network, where he previously served as executive director, has been appointed executive chairman of the committee.

MR Lightbourne is shown being interviewed, while looking on from L to R are: FTX chief executive, Ryan Salame; FTX vice-president, Valdez Russell; and Agricultural Development Committee executive chairman, Philip Smith. Photo:Yontalay Bowe/BIS

MINISTER: OUT ISLANDS IDEAL FOR MARIJUANA CULTIVATION A CABINET minister believes the availability of agricultural land on the Family Islands makes them ideal for the cultivation of marijuana once such activities are legalised. Clay Sweeting, minister of agriculture, marine resources and Family Island affairs, said multiple ministries were working to upgrade “skeleton legislation” that will legalise a Bahamian cannabis industry. While it was previously suggested that the Bill would be completed in the 2022 first quarter, he added that no target timeline has been set. “A lot of the land that we need is in the Family Islands. We don’t have enough agricultural land in New Providence to farm to what the industry can be. I think islands such as Eleuthera, Andros, Abaco and Grand Bahama have a lot of property that can be used to maximise the industry and, in turn, create opportunities for other Family Islands,” Mr Sweeting said. The minister added that many Bahamians were already looking for suitable land to support a cannabis industry, and said: “This industry can actually touch the lives of Bahamians nationwide. From a year or two ago, when the talk of marijuana

came about, individuals started to scope out property themselves. “It is not something the ministry was doing in regards to looking at where the property would be allocated. Our main concern now is that the legislation is done properly to ensure that all Bahamians have the opportunity to get involved, and not just a select few.” The Prime Minister’s press secretary recently said draft marijuana legislation will be completed by the 2022 first quarter, and Mr Sweeting said this would require input from various ministries. “The cannabis industry is not just agriculture,” Mr Sweeting said. “It works with the Ministry of Health as well as the Attorney General’s Office. So we do have skeleton legislation that we are revising. We haven’t put a timeline on it, but we are looking to work on it as quickly as possible. “My Ministry is working to make sure that it gets done as efficiently as possible. Hopefully, we will see the success story of what the industry can be before five years are complete.” The Davis administration is also seeking to expunge the records of young people convicted of minor cannabisrelated offenses as part of its legislative agenda.

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Monday, January 17, 2022, PAGE 3

WATER CORP YET TO ACCEPT $320K FOR TREASURE CAY SEWAGE REPAIR By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net

THE Water and Sewerage Corporation (WSC) has yet to accept the $320,000 raised by Treasure Cay residents to rebuild the area’s sewerage system lift station that was destroyed by Dorian. Bill McLean, president of the Beach Villas Owners Association at Treasure Cay, told Tribune Business that out of 119 homes in his association only 35 are currently inhabitable. A major factor behind this is that Treasure Cay’s sewerage system was left in disrepair by

the Category Five storm, while COVID-19 concerns have also delayed rebuilding. Mr McLean said: “It’s been difficult. Think of this. Hurricane Dorian occurred in September, 2019. It took the better part of nine months or more for us to begin to get electricity back. The water storage tank, which had been leaking for years, has only recently been replaced. It was totally wiped out. “So we limped along with poor quality water, and almost no water pressure, until really just within the last two months. Then there is the whole business of the sewage that we are still

having to have a septic hauling truck come and pump out the lift station for every one of our condominium associations.” There are 340 total units on Treasure Cay where homeowners are just flushing into pits, which then need to be pumped out and the human waste taken away. They have been pumping their own sewage waste since Hurricane Dorian left in 2019, and these pits often overflow. Mr McLean said that, as a result, he and other residents feel “abandoned” by the Government due the frustration of having to manually pump their waste on a daily basis.

He added: “These are essential basic essential services that the Government has the responsibility to provide and they haven’t been doing it.’” Incensed at the lack of attention received from the authorities over the past two years, Mr McLean said: “I’ve read the charter of the Water & Sewerage Corporation, what they’re responsible for doing under the auspices of the Government. Their charter didn’t change because we had a hurricane, and their charter didn’t change because it was a change in government.” “So when we hear about Water & Sewerage Corporation’s major

problems and all of that, and then a change of government as well, I don’t care about the change in government. The charter of your organisation has not changed. It’s your responsibility to get this back and running.” Mr McLean said the situation is both deterring potential tenants from renting units, and owners from rebuilding what they own, due to raw sewage often overflowing in their backyard. Unit owners have pooled their finances and sent documents to the Water & Sewerage Corporation offering to pay for the equipment needed to rebuild the pumping station and sewage

SALE FRUSTRATION LEAVES TREASURE CAY ‘IN LIMBO’ By YOURI KEMP Tribune Business Reporter ykemp@tribunemedia.net UNCERTAINTY over Treasure Cay’s post-Dorian recovery and future ownership is dampening its economic prospects and resulting in “endless” streams of revenue being left untapped. Dan Proctor, chairman of Atlantis Condominiums on Treasure Cay, told Tribune Business it was “frustrating” not to know whether Dr Mirko Kovats’ bid to acquire the Treasure Cay resort from the Meisters is progressing. “At Atlantis, our complex consists of 40 condominiums and, out of that number, we currently have three that are occupied,” he said, “not because they’re not ready, but very simply because the infrastructure on the island has not been repaired. “So we have told homeowners not to rent or come back to the island for extended periods of time. It’s just not a good environment, and the real

story here is not about us as second homeowners. The real story is about the negative economic impact to local Bahamians. “We could create many, many jobs, as we have done for many, many years. In the past, if we had basic infrastructure, we would have many owners coming back anxious to rebuild and anxious to spend money on services - from cleaning services to supporting local home-cooking operations.” The revenue streams that would be created if Treasure Cay homeowners returned are “endless” and just “waiting to be filled if we could get government sup-

port and get support from the Meisters. We’ve been abandoned by government, and we’ve been abandoned by the Meister family”, Mr Proctor said. The Meister family has been seeking to sell the Treasure Cay Resort for years. They have been negotiating a deal with Dr Kovats since 2020, but it is unclear whether the sales agreement is making progress towards a closing. Dr Kovats’ controversial reputation has also sparked concern, and opposition, from some Treasure Cay residents. This prompted Chester Cooper, deputy prime

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minister, to say the Government will ensure there is a “harmonious relationship between investor and resident” if any sale matrerialises seeking the necessary approvals. Mr Proctor said: “The Meisters have been trying to make that sale for many, many years, and with Hurricane Dorian they recognised that it would be in their best financial interest to simply bulldoze much

of the community and to try to find a buyer for the property. “Maybe it’s only from my perspective, but the circle of people I have been talking to on the island, they are not excited over Dr Kovats buying the resort.” Mr Proctor laid out what he called the “four S’s” that must be dealt with on Treasure Cay so residents can have some level of comfort: “The first is the sale of the

network for the island. “The homeowner associations have offered to pay for 100 percent of the cost of the lift station equipment, which is at about $320,000 plus shipping,” Mr McLean said. “We have collected that money. I’ve been sitting on what I’ve collected from the owners of the Beach Villas for over a year, and my owners are beginning to wonder: ‘Wait a minute, you took this money from us then why can’t we get Water & Sewerage Corporation to accept these funds and get the equipment purchases and get the lift stations fixed?”

property, and it’s critical that something be determined soon,” he said. “The second is the sewerage, which we’ve all talked about over and over. The third is silence and the lack of communication. The fourth is security and safety. We don’t really have good fire protection.” Boat theft on the island is still a major concern, as well as breaking and entering into vacant homes. Only one police officer is assigned to the community, and Mr Proctor said: “We can’t continue on like this.”

PAGE 4, Monday, January 17, 2022

FIRST STUDENTS ARRIVE AT GB MEDICAL SCHOOL A GRAND Bahamabased medical school last week welcomed its first class of students from multiple US states days after signing a revised Heads of Agreement with the Government. “We’re excited to welcome our charter class and expect great outcomes, for them and Western Atlantic University School of Medicine,” said its president, Joseph Flaherty. “This is a moment that signifies a change in the landscape of medical education.” With a worldwide shortage of doctors, especially

in the US and Canada, Western Atlantic fulfills the ambitions of its leadership team - drawn from prominent US and Caribbean medical institutions – to create a world-class medical school to train patient-centred physicians. In addition to Dr Flaherty, who previously served as dean of the University of Illinois College of Medicine (2004-2011), and dean and chancellor for Ross University School of Medicine (2011-2017), retiring from both with the prestigious honor of emeritus, Western Atlantic’s

leadership also includes founder and chief executive, Peter Goetz. With over 30 years’ experience, Western Atlantic said he is recognised as the sector’s leading expert in enrollment and change management. Others executives include executive dean and chief academic officer, Paula Wales; and campus dean and professor of foundational sciences, Laura Welke, PhD. “Everything we need to create the future physicians the world so desperately needs is right here on this campus,” said Dr Wales.

“Beginning today, Western Atlantic will be a destination of choice for students who want to become MDs.” “This is indeed a proud day for Western Atlantic, The Bahamas as a whole, and particularly the city of Freeport,” said Mr Goetz. “With our proximity less than 80 miles from the US, and the extraordinary team we have assembled, Western Atlantic is ideally situated as a premier choice in medical education. “Our charter class marks the beginning of our journey to provide opportunity for qualified, diverse, and dedicated students to become MDs (doctors of

medicine) and help alleviate the projected shortage of well over 100,000 North American physicians.” Western Atlantic offers the SELECT Scholarship, a merit-based scholarship that covers full, first-semester tuition. “The SELECT Scholarship is different in that it is offered up front to all our new students,” Mr Goetz explained. “Students should choose Western Atlantic because it’s the right fit for them academically, and not have to worry about cost for their first term.” “Every faculty member at Western Atlantic has a role in our Centre for Academic

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Success, which means that individualised support and mentorship is available to all of our students throughout their medical school journey,” said Dr Welke. Western Atlantic students spend five, 15-week semesters in Freeport (20 consecutive months) before moving to the US for clinical clerkships at the university’s partner teaching hospitals. The school has three cohorts starting each year in January, May and September, and is currently accepting applications for the May 2022, September 2022 and January 2023 semesters.

DPM TOURS OFFICES OF GAMING BOARD CHESTER COOPER, deputy prime minister and minister of tourism, investments and aviation, toured the Gaming Board’s offices and met with its newly-appointed directors yesterday. Pictured from L to R are: Ian Tynes, Gaming Board secretary; Dr Daniel Johnson, the Gaming Board’s executive chairman; Mr Cooper; Karen Thompson-Passard; Kevin Stuart; and Ryan Brown. Photo:Patrick Hanna/BIS

DIVE OPERATOR HOPES CANCELLATIONS DON’T EXCEED 15% MARK FROM PAGE ONE “It’s better testing positive there and don’t come. “I’ve had a good amount of people that just ended up testing positive or couldn’t get their test results back in time or decided not to travel because there was too much uncertainty. Hopefully we can weather this one like the other ones and get back to work. “That’s really when we got the first set of cancellations, Christmas and the New Year, and it’s still continuing,” Mr Watson continued. “I don’t think it’s too bad just yet, but I would say it’s right about 15 percent [who have cancelled]. It’s noticeable but not devastating. “If it stays there or gets better we will be alright.... In January, February and March we’re at our busiest time of year with shark diving and stuff. We have 22 staff in total, as at this time we swell from 16-17. Hopefully, we can just keep this going. For us, we make 40 percent of our annual revenues or even more in the first three months. “We have to stay really focused. This three months, I hope we can keep it for tourism and to make money. We’re going to keep trying, as long as it doesn’t get too much worse and people have access to tests and can get them. I think we’ll be alright.” Mr Watson said he was in the process of sourcing 400 COVID test kits from Florida so that his staff could be tested on a regular basis, fearing that the emergence of Omicron among his workforce could have a devastating impact if it produced numerous cases forcing a temporary halt to business.

“I’m just worried about a shortage of tests, and we’re going to get a batch of our own,” he added. “I’ve purchased them and have just got to figure out how to get them over. If it gets in the shop with our workers, that’s not good. We’re just going to keep testing the workers and stay ahead of any possible spread. “If we can test our people to catch it, we can keep the business going. It’s a whole new world now. It’s just a new way of trying to go about doing business, and keeping everyone safe at the same time. If anyone calls in sick for any reason they have to have a test before they can come to work. With a lot of people asymptomatic, we have to test a lot more.” Mr Watson also praised the Government for revising the COVID isolation and quarantine guidelines, adding: “That can keep any business going.” The tourism industry, and wider private sector, had been advocating a shift away from the rigid 10-day isolation period for persons infected with COVID-19 as well as the 14-day quarantine for those who had been exposed to virus carriers. They had been calling for The Bahamas to fall in line with US and UK practices, with both those countries having adopted five-day and seven-day quarantine periods, respectively. The subsequent changes were viewed as a boost for tourism, as visitors no longer have to fear a lengthy quarantine if they test positive in The Bahamas, while also enabling locals to return to work more quickly once they test negative and receive the all-clear. The Ministry of Health and Wellness reforms seek

to provide greater flexibility while also still protecting public health. They segment cases, and COVID contacts, into those who are vaccinated and unvaccinated, and those who are asymptomatic and show mild signs from others who suffer more severe illness. Persons who test positive for COVID, “and are asymptomatic or have mild to moderate illness and are not immunocompromised”, must now isolate for seven days. They can test again on day five, six or seven of their isolation and, if these are negative, can then be released. However, they must then wear an N95/KN95 mask for a further three days. Alternatively, persons in this category - who are likely to comprise the majority of COVID infections - can isolate for ten days. If the fifth-seventh day test is positive, but symptoms improve, they can be released after 24 hours without a fever or needing medicine. But those who are “severely symptomatic or immunocompromised” are required to isolate for 20 days. They can be released earlier if a doctor approves, but no earlier than ten days in. As for “close contacts”, those who are “fully vaccinated and are not immunocompromised” do not have to quarantine. They must limit their movements to “essential activities” until a fifth day test comes back as negative. Those who are “unvaccinated and are not immunocompromised” must quarantine for ten days, and can be released thereafter if they test negative.

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Monday, January 17, 2022, PAGE 5

Cheap money era is now likely over By RICARDO EVANGELISTA

OOKING ahead to 2022, two narratives will be hard to avoid. One is the ongoing energy crisis, which saw oil, gas and coal prices skyrocketing over the last few months. And if inflation, which to a large degree is linked to the energy crisis, proves to be a more permanent problem than previously thought, the tightening of monetary policies by some of the world’s main central banks has also taken centre stage. Looking first at the change in paradigm by the US Federal Reserve and its peers, the situation seems, at least for now, to be well-mapped. The consensus among analysts is that the Fed will start hiking rates, perhaps as early as March, and then two or three times’ more before the end of the year. Similar dynamics are unfolding in the UK and New Zealand, with the Bank of England and the Reserve Bank of New Zealand having already started to lift their respective borrowing reference rates. But not all monetary authorities sing form the same hymn sheet. The European Central Bank

and the Bank of Japan are clearly lagging their AngloSaxon counterparts, and are expected to remain dovish, meaning they are unlikely to raise rates this year. And then there is Turkey, a country where, despite an annual inflation reading that reached 36 percent last month, the central bank decided, under pressure from the nation’s president, Recep Erdogan, to cut interest rates’ four times during the second half of 2021, bringing them down from 19 percent to 14 percent. Mr. Erdogan, who famously considers high interest rates the “mother of all evil”, is conducting a dangerous economic experiment, one whose eccentricity contrasts strongly with the consensus amongs economists that in order to control inflation, interest rates must go up. The other hot topic of the moment is the way energy prices have been going up. Crude oil prices rose

more than 56 percent in 2021, despite a wobble in November, when the Omicron variant was identified. At the time of writing, less than two weeks into 2022, the cost of an oil barrel is already up by a further 8.2 percent . These rises are occurring amid a combination of increasing demand, as economic activity returns to normal levels, and insufficient supply. The insufficiencies on the supply side are the result of disinvestment in infrastructure during the pandemic, with some countries unable to return to past levels of production. There are also geopolitical tensions between Russia and the West, with Moscow restricting exports of fossil fuels to Europe. One final factor is the unusual cohesion amongst the countries that form the OPEC cartel of oil producers. Unlike in the past, when member states, keen to cash-in every time the price of the barrel went

OIL prices are spilling over, rising more than 50% in 2021.

up, would sell more than their allocated quota, this time around, the discipline has been remarkable. This is bad news for those at the gas station, with prices likely to continue to rise as demand increases with the return to normal levels of economic activity in the aftermath of the pandemic. So, 2022 looks set to be a year unlike previous ones. We got used to cheap money, low inflation and reasonable fuel prices. Those days are over. It is difficult to predict exactly how these changes will impact both Wall Street and Main Street, but the changes are likely to be significant. Budgeting will become harder for families, while in the markets, risk-related assets (think technology stocks, cryptocurrencies etc) will not be as rampant as in the past few years. To finish on a bright note, value stocks look set to return to the top of investors’ wish lists, with banks and oil companies standing out as potential winners.

PAGE 6, Monday, January 17, 2022

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DPM meets up with Bahamasair Board CHESTER COOPER, deputy prime minister and minister of tourism, investments and aviation, met the Bahamasair Board and executive team at the airline’s administrative offices on Blake Road this past Tuesday. Pictured from L to R: Dr Tyneil Cargill; Tanya Pratt; C. Hunter; Astrid Bodie; Tracy Cooper, Bahamasair’s managing director; Chester Cooper; Anthony Kikivarakis, Bahamasair chairman; Davine Leash; Cordell Knowles; and Tasman Darling. Photo:Kemuel Stubbs/BIS

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Monday, January 17, 2022, PAGE 7

SIR SOL’S EQUIVALENT A MUST FOR LUCAYAN FROM PAGE ONE from the latter on how it will be redeveloped and the timeline for doing so. Mr Alnebeck, though, added that a Grand Lucayan purchaser’s ability to attract necessary airlift, and enticing the US to restore pre-clearance facilities, were more important factors to the future success of Grand Bahama’s so-called ‘anchor property’ so long as the airport was returned to a “functional” state. Mr Cooper last week suggested the Government was seeking a $150m purchase price for the Grand Lucayan. While he did not explain how that figure was calculated, it is equivalent to the amount of taxpayer money - including the $65m purchase price - that the Government has pumped into the property since acquiring it from Hutchison Whampoa’s real estate arm in 2018. The $150m price tag has attracted much attention, and Mr Alnebeck said it was difficult to determine whether this was a realistic valuation. “The price of a hotel property is normally based on the cash flow it generates, and it has been hardly anything,” he added of the nearby Grand Lucayan property. “In this case it has to be sold on potential cash flow, and it’s difficult to determine not knowing who is interested, and who the Government is trying to interest, and what they may see. Of course, the more money they collect for the taxpayers of The Bahamas is great, as they own the hotel. “At the same time, what is more important than the actual sale is the sustainability of future operations. The more money they get, the better it is, but the focus needs to be on the business model as opposed to the size of the cheque book. “If you look back at the history of the property, it was owned by Hutchison, a Fortune 500 company, and they branded it with Westin and Sheraton, the Starwood brands. That was not feasible and they gave up. Emerald Bay had the Four Seasons. It just didn’t work, and Four Seasons is one of the strongest brands in the world,” the Grand Bahamabased hotelier added. “Now, with Sandals, suddenly Exuma has the second-best commercial airlift after New Providence, and a very viable and functioning property with a big turnover. My personal feeling, and I’m new sure the new Lucayan Board is doing this, is that they’re looking as much at the business model of a potential owner as they are the price. “I’m sure the Government of The Bahamas would rather collect the VAT on $500m of turnover for the next 20 years as opposed to a $20m turnover for the next five years until somebody gives up. That, in my view, is more important. I can just imagine how much VAT and economic activity the Government and The Bahamas has lost in the past five years when that hotel was more or less closed.” Summing up what this means for the Grand Lucayan buyer search, Mr Alnebeck told Tribune Business: “I cannot really see a conventional hotel deal, where someone comes in with a big balance sheet

or starts operating, whether it’s a Sheraton or Hilton. That’s not a model that will drive the destination. “It’s somebody that comes with the vision and force of a Sir Sol Kerzner and Sandals, or someone who comes with a vertically-integrated airlift, tour and hotel operator business, like TUI, Memories and Sunwing. “The Government should be very wary of someone showing up and saying they will buy it for $150m and brand it with a Ritz-Carlton, for example. I’m not so sure that can work.” Mr Alnebeck’s argument is that, to truly revive the Grand Lucayan and Grand Bahama’s wider tourism industry, the resort must be transformed into destination-style product that is differentiated from both New Providence and other competitors or, alternatively, the buyer has to be a Sunwing/Memories-type operator better able to control its costs and margins at every level. Airlift, too, will be key. “That, of course, was the downfall of Hutchison and Starwood,” the Pelican Bay general manager added. “The airlift was just not there, and it was impossible to flex the airlift back and forth. When I first came here 17 years ago, they hosted a convention and it was impossible to get people here because they did not have the airlift.” The Grand Lucayan and airlift are inextricably linked to what happens at Dorian-devastated Grand Bahama International Airport. “I think that any investor interested in the property will either have a big say in what happens at the airport or have guarantees from the Government as to what happens,” Mr Alnebeck said. He added, though, that experience elsewhere in The Bahamas and Caribbean showed that Grand Bahama needed an airport that was simply “functional” enough to sustain the necessary airlift as other destinations had performed well without a five-star gateway. Citing Exuma’s present international airport, which is currently being redeveloped, as one such example, Mr Alnebeck suggested it was more critical for Grand Bahama International Airport to be raised to a standard sufficient to entice the US to restore its preclearance facilities and thus open up access to more US cities. The Pelican Bay general manager was backed by Greg Laroda, Grand Bahama’s Chamber of Commerce president, who agreed that any Grand Lucayan purchaser must come with “the full package” if the resort is to succeed long-term. “We need it to be sold and work to start immediately to get it back up and running,” he said. “We don’t need to sell it and, six months later, we’re still not anywhere near to seeing any shovels in the ground or a re-opening strategy. We need it to be sold and see some activity start almost immediately. It has to be someone who has a plan to get heads in beds as well.” Warning the Government that it will have to “convince” potential buyers it has “a very good short-term solution” to the airport woes, Mr Laroda added: “I heard that there was a

CHESTER COOPER

group of Bahamian investors looking at it. Not to take anything away from Bahamian investors, but we need someone with the full package. “Someone like Sunwing, someone with big pockets for development like Kerzner did at Atlantis, even though they may do it in phases. It redevelops the hotel, and adds to what tourists can do when they visit the island and keeps them busy. It would be perfect if we could get something like that.”

NOTICE IN THE ESTATE OF BESSIE MARGARET VIRGINIA SERRETTE late of Stapledon Gardens in the Western District of the Island of New Providence, The Bahamas, deceased. Notice is hereby given that all persons having any claim or demands against the above named Estate are required to send their names, addresses and particulars of said demands or claims duly certified in writing to the undersigned on or before the 14th day of February, A.D., 2022, and if required, to prove such debts or claims or in default, be excluded from any distribution having regard only to the proved debts or claims of which the Executor shall then have notice. And Notice is hereby given that all persons indebted to the said Estate are requested to make full settlement on or before the above mentioned date. PYFROM FARRINGTON CHAMBERS Attorney for the Executor Braxon House #23 Buen Retiro Road Off Shirley Street Nassau, Bahamas Phone: (242) 323-3228

PAGE 8, Monday, January 17, 2022

THE TRIBUNE

DORIAN REBUILD IN QUESTION FOR 98% ON TAX BREAK LOSS FROM PAGE ONE being able to afford their reconstruction plans. Some 20.51 percent - over one-fifth - feel into the category of being unable to rebuild. The survey also found 71 percent were financing post-Dorian rebuilding from their own pockets, with just 16 percent having access to bank/debt funding and the remaining

13 percent able to rely on proceeds from insurance settlements. Asked about the value of their reconstruction projects, some 66 percent or two-thirds said these were valued at $500,000 or below, with just onethird above this threshold. And the Abaco Chamber’s survey drew 100 percent unanimous responses when persons were asked if

construction services should remain VAT-free and if they planned to use such services within the next 12 months. The valuations provided, while only coming from 40 respondents, raise questions about the Ministry of Finance’s assertion that removing the VAT relief on construction services will only impact a minority of wealthy homeowners who, it implied, would be able to

afford the extra 10 percent levy without suffering undue hardship. The Abaco Chamber’s survey results, which have been seen by Tribune Business, came as Greg Laroda, the Grand Bahama Chamber of Commerce president, called on the Government to provide greater “clarity and transparency” around the decision to end the construction services VAT relief

GN- 2662

Simon Wilson

so that persons can determine if the move is justified. Pointing out that “money and capital are in short supply” on the Dorianravaged islands of Grand Bahama and Abaco, he added: “We don’t want anything to stand in the way of recovery.” “A lot of folks are still haven’t been able to complete repairs to their homes, businesses, investment properties since Dorian for various reasons,” Mr Laroda told this newspaper. “We know that the economy is down. We know there were issues related to the pandemic that would have slowed even the process of acquiring materials and other resources to do repairs. “A lot of these repairs remain outstanding. To the extent we can continue to incentivise that, it makes the road to recovery that much shorter. I’ve seen the Government say where it will not have much impact, and arrangements on a one-byone, case-by-case basis can be made. “We need to dig into that more, and ask what that means. I would not want anything to happen that stands in the way of recovery in the economic zones of Grand Bahama and Abaco. We have to work with the Government and business community to see where the pinch points are, what is causing disadvantage to them, and get the Government to work with us so they can meet us half-way.” The latest Disaster Reconstruction Authority (Special Economic Recovery Zone) Order 2022, which took effect on New Year’s Day but was only released last week, revealed that the VAT ‘zero rating’ treatment for construction services effectively came to an end on New Year’s Eve. Services provided in 2021 must have been invoiced before year-end, and paid in full by end-March 2022, for the VAT relief to apply. The end to the ‘zero rating’ means home owners and businesses in Abaco and Grand Bahama will now have to pay 10 percent VAT on contractors’ labour and other service costs. This creates a potentially significant hike in rebuilding costs as labour typically accounts for around 50 percent of the contractor’s price. With all VAT-registrant contractors now having to charge their Abaco and Grand Bahama customers the 10 percent levy, this could deter persons from hiring such tradespersons, potentially impacting the quality and standard of reconstruction. The Ministry of Finance, in a statement responding to the outcry, pointed out that VAT and other tax breaks on physical goods imports, such as building materials; furniture; furnishings and appliances; hardware supplies; electrical fixtures and materials; and plumbing fixtures and materials had been extended until December 1, 2022. However, it seemed to imply that the reimposition of VAT on construction services would only impact a small minority of wealthy homeowners who could afford to pay the tax. “It should be noted that the vast majority of persons in the impacted areas, in repairing their property, will purchase materials and employ labour to effect the repairs,” the Ministry of Finance said. “With the extension of the SERZ Order, those persons

will not be affected because building materials will remain tax free and VAT is not charged on labour in these circumstances. The removal of the zero-rating on construction services is expected to impact a minority of cases, mostly high-end properties. “The Ministry of Finance will continue to process applications for relief under the SERZ on a case-bycase basis and consider any application for special consideration on its merits.” Pro-government Internet and social media blogs subsequently leapt to its defence, asserting that only the likes of foreign second homeowners at Baker’s Bay would be impacted by the reinstatement of VAT and construction services while suggesting that the Government was giving away too much in tax concessions and needed to safeguard its revenues. However, the Abaco Chamber’s survey results, while taken from a narrow base, suggest that middle class Bahamian home owners and businesses will also be impacted by the move. And Mr Laroda reiterated that anything which “slows up the recovery process” should be cause for concern. “Money and capital are in short supply in the recovery zones, so anything that adds to the cost of recovery we ought to be very concerned about,” he told Tribune Business. “We need more clarity from them [the Government] on why they feel that is the case. There needs to be more clarity and transparency on that. “On the surface that appears not to be the case,” Mr Laroda said of the Government’s assertion that only wealthy homeowners would be affected. “We need more clarity if that is what it is. We need to see in more detail what they mean by it will only affect a few persons, and if that is not the case we will lobby them to reconsider or reverse course as we don’t want anything to stand in the way of recovery. “We want more clarity, and to see what the impact and potential impact is and, if it stands in the way, we need the Government to revisit it and remove anything that slows the process.” Ken Hutton, the Abaco Chamber of Commerce’s president, said: “It’s very critical that the VAT concessions be put back in place on construction services at least for another year or more. We’ve had VAT reinstated on breadbasket items. That has taken a big chunk out of people’s income that they could have used to rebuild. “The price of building materials has shot back up since December, the supply chain is causing havoc with people’s ability to supplies in, and the ongoing labour shortage makes people uncertain when they will have labour. Having this put on top of all that is really encumbering Abaco’s ability to rebuild. It’s just one thing after another.” Mr Hutton told last week’s Bahamas Business Outlook conference that lumber prices had increased by 30 percent since mid-December and show no signs of “slowing down”, while plywood costs had rapidly increased from $30 to $50 per sheet. Windows and doors now take 14-16 weeks from order to delivery. The Abaco Chamber’s survey revealed that 44 percent of respondents believe their rebuilding efforts will take more than one year.

EMERA INCORPORATED (“Emera”) Notice to Holders of Depositary Receipts DIVIDEND NOTICE A dividend of CAD $0.165625 per Emera depositary receipt (CAD $0.6625 per common share of Emera) will be payable on and after February 15, 2022 to depositary receipt holders of record as at February 1, 2022. Dividends will be subject to applicable withholding tax.

THE TRIBUNE

Monday, January 17, 2022, PAGE 9

CALL 502-2394 TO ADVERTISE TODAY!

GN-2661

A Major Medical Plan is accepting proposals from Audit firms to provide audit services (preferably a firm that does medical audits but not limited to) for our organization in the future. We invite your firm to submit a proposal to us by January 31, 2022 for your consideration.

PUBLIC NOTICE

MINISTRY OF PUBLIC WORKS MINISTRY OF PUBLIC WORKS DEPARTMENT OF PHYSICAL PLANNING

We are currently considering beginning with DEPARTMENT OF PHYSICAL PLANNING our Audit for the year ending December The 31, public is hereby notified that an application for Site Plan Approval (SPA/12/2021) on behalf of DCL The public is hereby notified that an application for Site Plan Approval (SPA/12/2021) on behalf of DCL Island 2020/2021.

Development Development C/O BRON presently being byTheThe Department of Physical Planni C/O Ltd. BRONis Ltd. is presently beingreviewed reviewed by Department of Physical Planning for presentation to the Town Planning Committee. presentation to the Town Planning Committee. Please let us know what information is required

from us to assist with your proposal as soon as The applicant is proposing the development of a Cruise Port on the property known as Lighthouse Point in South The applicantEleuthera, is proposing theThe development Cruise PortPoint on the propertyextend known in you receive this Tender document. Bahamas. site boundariesofofathe Lighthouse development fromas theLighthouse most southernPoint tip

of the island north, both the eastern and western shorelines. project is asouth Eleuthera, Bahamas. The siteapproximately boundaries8,000ft, of theincluding Lighthouse Point development extend The from the site most

Please submit your response to this requestof forthe island north, total of approximately 919 acres comprising 758 acres of lands purchased the applicant, and Crownshorelines. Lands that include Big 8,000ft, including both thebyeastern and western The project s Pond, White Pond, and multiple land parcels. Approximately 193 acres of the privately owned lands, including proposal in a sealed envelope addressed to:

total of 919 acres comprising 758 acres lands purchased bystructures, the applicant, Lands Public that inclu the southern tip encompassing theof actual lighthouse building will formand the Crown Disney Donated Pond, White Pond, andto multiple land parcels. 193 privately owned lands, inc Lands. Up 152 acres will be utilized forApproximately Project development, andacres at leastof 606the acres will remain undisturbed. Chairman Donated and remaining the undisturbed total 606 acres, or 80 percent of the purchased lands utilized for Project the southern tip encompassing actuallands lighthouse building structures, will form the Disney Donated PO Box N 3190 development based on the current site plan. Nassau, Bahamas Lands. Up to 152 acres will be utilized for Project development, and at least 606 acres will remain undis The proposedundisturbed Cruise Port project willtotal include theacres, following program: Donated and remaining lands 606 or 80 percent of the purchased lands utilized for or you may submit your response via email to development based on the current site plan. ackfarrington@gmail.com.

Beach expansion, enhancements and improvements The proposed Cruise Port project will include the following program: • Ship berth, service ramp and marina • Themed buildings and elements • Dining and beverage facilities • Recreational areas and structures • Merchandise and retail facilities Maintenance and utilityenhancements plants and • 2,500ft long access pier • • Beach expansion, facilities improvements • Spa facilities • Employee Dining, housing and • Ship berth, service ramp and marina • Themed recreationalbuildings facilities and elements • Aquatics andfacilities recreational facilities Snorkeling areasareas and water activities • Dining and beverage • • Recreational and structures area February Point Resort Estates in picturesque • Merchandise and retail facilities • Maintenance and utility plants • Back-of-House: (Electrical and Sanitation Buildings, Power Generator, Solar Power Great Exuma is seeking applications for the facilities Generation Arrays, Diesel and Gasoline Tanks, Reverse Osmosis Units, and Wastewater following positions: Treatment Plant) • Spa facilities • Employee Dining, housing •

- Property Manager - Food & Beverage Manager - Landscaping Irrigation Technician

Qualified persons are asked to send their resumes to the following email address:

• •

klightbourne@februarypoint.com

NOTICE

2,500ft long access pier

•

recreational facilities

and

and and

A virtual public meeting will be held February 1, 2022 at 6:30pm for all interested parties to discuss and address Aquatics andissues recreational facilities • Snorkeling areas and water activities planning related to the proposed Cruise Port development.

area

Access to the meeting will be available by way of Webex using the following link: Back-of-House: (Electrical and Sanitation Buildings, Power Generator, Solar Power https://bahamasgovernment.webex.com/bahamasgovernment/j.php?MTID=m3e74d664b68cdebbf15b382f3264 Generation Arrays, Diesel and Gasoline Tanks, Reverse Osmosis Units, and Wastewater eca4

Treatment Plant)

Preliminary plans for the proposed development are available for viewing at The Department of Physical Planning, located in be the held Aventura Plaza on John F. Kennedy Drive, during working hours ofparties 9 a.m. –to 5 p.m. Plans and a A virtual public meeting will February 1, 2022 at 6:30pm for all interested discuss are also available at the office of the Island Administrator in South Eleuthera.

planning issues related to the proposed Cruise Port development.

Interested persons and organizations are invited to review the information on file and provide written comments NOTICE is hereby given that or questionswill prior be to the meeting. Comments should be directed the Director of Physical Access to the meeting available by way of Webex usingtothe following link: Planning. Submissions CHRISTOPHER SMITH of can be made via P.O Box N-1611, Nassau Bahamas or email to the Department of Physical Planning at Laura Hill, Winton Meadows, https://bahamasgovernment.webex.com/bahamasgovernment/j.php?MTID=m3e74d664b68cdebbf15b382 DEPTPHYSICALPLANNING@BAHAMAS.GOV.BS. New Providence, The eca4to Bahamas is applying the Minister responsible for Nationality and Citizenship, for Registration Preliminary plans for the proposed development areSigned available for viewing at The Department of P Charles B. Zonicle Naturalization as a citizen Planning, located in the Aventura Plaza on John F. Kennedy Drive, during working hours of 9 a.m. – 5 p.m of The Bahamas, and that Director of Physical Planning any person who knows areany also available at the office of the Island Administrator in South Eleuthera. reason why registration/ naturalization should not be granted, should send a Interested persons@departmentofphysicalplanning and organizations are invited to review the information on file and provide written com written and signed statement of the facts within twentyth eight days from the 17 day of January, 2022 to the or questions prior to the meeting. Comments should be directed to the Director of Physical Planning. Subm Minister responsible for nationality and Citizenship, P.O. Box N-7147, Nassau, New Providence, The Bahamas. can be made via P.O Box N-1611, Nassau Bahamas or email to the Department of Physical Plann

DEPTPHYSICALPLANNING@BAHAMAS.GOV.BS.

Signed Charles B. Zonicle Director of Physical Planning @departmentofphysicalplanning

NOTICE Pursuant to the Provisions of Section 138 (8) of the International Business Companies Act, 2000, (As Amended) NOTICE is hereby given that HC TRADING INTERNATIONAL INC. has been dissolved and that the name has been struck from the Register of Companies with effect from the 22nd day of November 2021. ENERVO ADMINSITRATION LIMITED LIQUIDATOR MONTAGUE STERLING CENTRE EAST BAYS TREET P.O. BOX N-3924 NASSAU, THE BAHAMAS

THE TRIBUNE

Monday, January 17, 2022, PAGE 11

DPM AND TOURISM MEET HOTEL LICENSING BOARD

PICTURED from L to R: Francis Taylor, director, Hotel Licensing Board; Glenda Johnson, chief licensing officer, Hotel Licensing Department; Calvin Greene, director, Hotel Licensing Board; Reginald Saunders, Ministry of Tourism permanent secretary; Roderick Colebrook, chairman, Hotel Licensing Board; Chester Cooper, deputy prime minister; John Pinder, parliamentary secretary, Ministry of Tourism, Investments and Aviation; Glendia Munroe, deputy chairman, Hotel Licensing Board; and Ian Mitchell, director, Hotel Licensing Board. Photo:Kemuel Stubbs/BIS

By NEIL HARTNELL Tribune Business Editor nhartnell@tribunemedia.net CHESTER Cooper, deputy prime minister and minister of tourism, investments and aviation, met with the newly-appointed Hotel Licensing Board on Wednesday. Also present were Reginald Saunders, Ministry of Tourism permanent secretary; John Pinder, its parliamentary secretary; and Glenda Johnson, chief licensing officer in the ministry’s Hotel Licensing Department.

THE WEATHER REPORT

5-Day Forecast

TODAY

ORLANDO

High: 64° F/18° C Low: 41° F/5° C

TAMPA

TUESDAY

WEDNESDAY

THURSDAY

FRIDAY

Windy with low clouds

Clearing

Mostly sunny and nice

Mostly sunny and pleasant

Mostly sunny and delightful

Nice with clouds and sun

High: 73°

Low: 62°

High: 73° Low: 64°

High: 78° Low: 66°

High: 80° Low: 68°

High: 79° Low: 67°

AccuWeather RealFeel

71° F

59° F

74°-64° F

78°-65° F

84°-70° F

86°-63° F

The exclusive AccuWeather RealFeel Temperature® is an index that combines the effects of temperature, wind, humidity, sunshine intensity, cloudiness, precipitation, pressure and elevation on the human body—everything that affects how warm or cold a person feels. Temperatures reflect the high and the low for the day.

almanac

ABACO

High: 70° F/21° C Low: 62° F/17° C

12-25 knots

High: 71° F/22° C Low: 47° F/8° C

15-25 knots

FT. LAUDERDALE

FREEPORT

High: 72° F/22° C Low: 51° F/11° C

E S

WEST PALM BEACH

uV inDex toDay

TONIGHT

High: 65° F/18° C Low: 45° F/7° C

| Go to AccuWeather.com

High: 70° F/21° C Low: 57° F/14° C

MIAMI

High: 72° F/22° C Low: 52° F/11° C

12-25 knots

KEY WEST

High: 72° F/22° C Low: 62° F/17° C

ELEUTHERA

NASSAU

High: 73° F/23° C Low: 62° F/17° C

High: 74° F/23° C Low: 66° F/19° C

tiDes For nassau High

Ht.(ft.)

Low

Ht.(ft.)

Today

7:22 a.m. 7:36 p.m.

2.8 2.0

12:56 a.m. -0.1 1:52 p.m. 0.0

Tuesday

8:00 a.m. 8:15 p.m.

2.8 2.1

1:36 a.m. -0.2 2:30 p.m. 0.0

Wednesday 8:37 a.m. 8:54 p.m.

2.8 2.2

2:15 a.m. -0.2 3:06 p.m. 0.0

Thursday

9:14 a.m. 9:34 p.m.

2.8 2.2

2:55 a.m. -0.1 3:42 p.m. -0.1

Friday

9:52 a.m. 10:16 p.m.

2.8 2.3

3:36 a.m. 0.0 4:18 p.m. -0.1

Saturday

10:31 a.m. 11:01 p.m.

2.7 2.4

4:20 a.m. 0.0 4:57 p.m. -0.1

Sunday

11:14 a.m. 11:50 p.m.

2.5 2.5

5:08 a.m. 0.1 5:38 p.m. -0.1

sun anD moon Sunrise Sunset

6:57 a.m. Moonrise 5:43 p.m. Moonset

5:32 p.m. 6:51 a.m.

Full

Last

New

First

Jan. 17

Jan. 25

Feb. 1

Feb. 8

CAT ISLAND

High: 76° F/24° C Low: 67° F/19° C

10-20 knots

10-20 knots Shown is today’s weather. Temperatures are today’s highs and tonight’s lows.

Statistics are for Nassau through 1 p.m. yesterday Temperature High ................................................... 77° F/25° C Low .................................................... 53° F/12° C Normal high ....................................... 77° F/25° C Normal low ........................................ 65° F/18° C Last year’s high ................................. 76° F/24° C Last year’s low ................................... 69° F/20° C Precipitation As of 1 p.m. yesterday ................................. 0.00” Year to date ................................................. 2.17” Normal year to date ..................................... 0.68”

The higher the AccuWeather UV IndexTM number, the greater the need for eye and skin protection.

ANDROS

SAN SALVADOR

GREAT EXUMA

High: 77° F/25° C Low: 68° F/20° C

High: 77° F/25° C Low: 69° F/21° C

High: 73° F/23° C Low: 62° F/17° C

W S

LONG ISLAND

tracking map

High: 78° F/26° C Low: 70° F/21° C

12-25 knots

MAYAGUANA High: 81° F/27° C Low: 71° F/22° C

Shown is today’s weather. Temperatures

CROOKED ISLAND / ACKLINS

are today’s highs and tonight’s lows.

RAGGED ISLAND High: 79° F/26° C Low: 71° F/22° C

High: 80° F/27° C Low: 71° F/22° C

GREAT INAGUA High: 82° F/28° C Low: 73° F/23° C

8-16 knots

4-8 knots

marine Forecast ABACO ANDROS CAT ISLAND CROOKED ISLAND ELEUTHERA FREEPORT GREAT EXUMA GREAT INAGUA LONG ISLAND MAYAGUANA NASSAU RAGGED ISLAND SAN SALVADOR

Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday: Today: Tuesday:

WINDS W at 15-25 Knots N at 6-12 Knots NW at 10-20 Knots NNE at 7-14 Knots WNW at 12-25 Knots NNE at 7-14 Knots W at 8-16 Knots NNE at 10-20 Knots W at 12-25 Knots N at 6-12 Knots WNW at 12-25 Knots N at 6-12 Knots NW at 10-20 Knots NNE at 7-14 Knots NW at 4-8 Knots NE at 10-20 Knots WNW at 8-16 Knots NNE at 8-16 Knots WSW at 8-16 Knots NNE at 10-20 Knots WNW at 12-25 Knots NNE at 6-12 Knots NW at 8-16 Knots NNE at 10-20 Knots NW at 12-25 Knots NNE at 7-14 Knots

WAVES 6-10 Feet 3-6 Feet 1-2 Feet 0-1 Feet 3-6 Feet 3-5 Feet 3-5 Feet 2-4 Feet 3-6 Feet 2-4 Feet 4-7 Feet 2-4 Feet 1-2 Feet 0-1 Feet 2-4 Feet 2-4 Feet 1-3 Feet 1-3 Feet 4-7 Feet 4-7 Feet 1-3 Feet 1-2 Feet 1-3 Feet 1-3 Feet 2-4 Feet 1-3 Feet

VISIBILITY 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 7 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 10 Miles 7 Miles 10 Miles 10 Miles 10 Miles 7 Miles 10 Miles 5 Miles 10 Miles 5 Miles 10 Miles 10 Miles 10 Miles

WATER TEMPS. 77° F 77° F 76° F 75° F 78° F 78° F 80° F 80° F 77° F 77° F 75° F 75° F 78° F 76° F 81° F 80° F 80° F 80° F 79° F 79° F 77° F 77° F 80° F 80° F 78° F 78° F

PAGE 12, Monday, January 17, 2022

THE TRIBUNE

BAD WEATHER CANCELS AS MANY CRUISE CALLS AS COVID’S OMICRON FROM PAGE ONE additional vessel calls that had not been on its 2022 books. “We had less than a handful whereby the Ministry of Health and Wellness refused the vessel permission to call,” Mr Maura confirmed to this newspaper of COVID-related losses. “It wasn’t necessarily a Nassau call; it was more likely a Bahamas call and Nassau was just one of the stops that didn’t happen. “It was less than three. The biggest disruption we had the week prior is we had a bad weather day, and had three ship calls cancelled because of bad weather. But we’ve also seen a pick-up in additional calls. “We’ve experienced less than a handful of cancellations as a result of the Ministry of Health denying entry to ships that a number of COVID cases they were not comfortable with, but we’ve seen additional calls that we did not have on the books. The cruise lines asked if we had space, and we accommodated them.” He added: “We had a very strong December leading up to Christmas Day, and then we had that ebb before Christmas and New Year because people are generally at home and there was a lot of talk about what the Centres for Disease Control and Prevention (CDC) was doing, putting out that advisory on not sailing whether vaccinated or unvaccinated. “However, the cruise lines continue to see robust bookings and we continue to see robust calls. We’re still seeing the numbers, and still seeing the ships. Last Thursday, we had five ships in. Again, our bookings are very solid and the cruise lines have made a major commitment to Nassau. “Our financial plans for the first quarter,

notwithstanding that we have very strong bookings from the cruise lines, we have been conservative in terms of our numbers because of the potential impact of COVID variants. But what we are seeing is 2022 outperforming 2019, and 2023 outperforming 2023.” Mr Maura added that the 1,279 total cruise ship calls on Nassau that are currently scheduled for 2022 will exceed 2019 levels, the last pre-COVID year. “The cruise lines update bookings daily, a d the current bookings we have for 2022 total 1,279 vessel calls,” he told Tribune Business. “If those ships are at 100 percent occupancy, this equates to 4.1m passengers [for the year]. Our budgeted passenger count is considerably less at 3.3m passengers for 2022, so we have been conservative.” Given that cruise ships are still sailing below 100 percent occupancy, such forecasting will likely be seen as wise. Passenger occupancy forecasts also do not indicate whether all will disembark the vessel when in Nassau, or the level of per visitor spend that The Bahamas is eagerly trying to raise in its major destinations. Meanwhile, Mr Maura said the CDC’s COVID19 guidelines becoming optional, as opposed to mandatory, for the cruise ship industry will have no impact on the sector or its plans for The Bahamas and calling on Nassau Cruise Port. “I really don’t think it changes much because the industry isn’t relaxing its protocols as a result of the change in the CDC position as of yesterday,” he said. “The cruise industry has exceeded the requirements as mandated by the CDC to ensure its guests and crew members are as safe as possible in this pandemic.

“The cruise industry continues to exercise sound judgment in monitoring and adapting to fundamental changes in health and health concerns. I think we’re going to see business as usual from where we are today. They will continue to ensure passengers are vaccinated, provide crew with booster shots and monitor advice from the CDC to reduce the impact of any future COVID variant.” Mr Maura had previously argued the CDC singled out the cruise industry, which pre-COVID accounted for three-quarters of visitor arrivals to The Bahamas but around just 11 percent of their total spending, with its former advisory against sailing while ignoring the fact that the same “consumer pool” was also travelling on planes and visiting the same entertainment/sporting venues. He added that 95 percent of cruise passengers sailing today are fully vaccinated, along with 100 percent of crew members. And the Nassau Cruise Port chief said Royal Caribbean has ensured all its crews have had boosters, with Carnival not far behind. Asserting that the cruise industry has “gone beyond” other travel-related industries with its COVID vaccinations, testing and protocols, and investing heavily in isolation, quarantine and medical facilities aboard ship, Mr Maura said the CDC had “chosen to focus one light on the cruise industry and not look at any other sector”. “It is upsetting to me that the CDC have chosen to isolate the cruise industry the way they have, and come out and said whether you are vaccinated or not, don’t cruise. I just don’t think that’s a very fair analysis of the cruise industry,” he added.