"Government prepared to buy Grand Lucayan Hotel"
While the Grand Lucayan hotel is the heart of the Grand Bahama economy right now under no circumstances should the government purchase it. The long and sordid history of the Hotel Corporation loses in owning hotels should stand a lesson in abject failure for the current administration.
I am sure the urge to "help the people of Grand Bahama" is an overriding concern but to keep a hotel limping along solves nothing for the people in the long run. In fact it just might be a drag on the rest of the country that can ill afford more drains on the public purse.
While it is easy to be a Monday morning quarterback I wonder if the government is looking at the underlying reasons for the failure of the Grand Bahamian economy?
In other words, have they asked why potential sales falling through? Why buyers are walking away?
Maybe if they asked these questions and made some changes they can start to right the economic ship of not only Grand Bahama but the country too.
Download Bahamas Hotel Corporation—Relic of Past Corruption (pdf) - Bahama Pundit
