A classic Caribbean resort to be renovated
MASHANTUCKET, Conn. – Foxwoods Development Co. and Harcourt Developments (Bahamas) Ltd., a major international developer, will renovate and reopen the former Royal Oasis Resort in Grand Bahama Island, Bahamas. While closer to home, Foxwoods Resort Casino has partnered with a Boston-based event and destination management company to develop meetings and conventions.
Foxwoods Development Co., which is owned by the Mashantucket Pequot Tribal Nation, runs Foxwoods Resort Casino on tribal lands in southeastern Connecticut and is the tribe;s development arm for hospitality-related enterprises outside of Connecticut.
Harcourt Developments, a Dublin-based firm, is a management, development and investment company with a broad portfolio of international projects. The partnership announcement was made in late February.
The Royal Oasis is a classic Caribbean resort, hotel and casino located 70 miles from Florida’s east coast. The second-largest resort on the island, the Royal Oasis, closed in September 2004 after being severely damaged by hurricanes Frances and Jeanne.
Foxwoods and Harcourt’s plans are already under way to redevelop the Royal Oasis site. The expanded and renovated property will include more than 650 hotel rooms and suites, a casino, convention/meeting facilities, spa, fitness center, restaurants, retail shops, recreation facilities and a host of other amenities. The two on-site golf courses will also be restored.
The companies did not release an estimate cost for the redevelopment and financial details of the partnership.
”It’s too premature to do that,” Foxwoods Resort Casino spokesman Bruce MacDonald said.
”The hope is the opening is going to be in the spring of 2010. We’re going to be consultants to Harcourt, and once it opens we have the management contract to operate it, so a lot of the decisions are up to Harcourt. The project is in the early stages of getting the appropriate government permits that will be needed to complete the project,” he added.
The resort’s closure struck a heavy blow to the island’s economy, leaving roughly 1,200 of people on the unemployment line and cutting the number of tourists able to visit the island. The island also lost approximately $270 million worth of gross expenditures, according to a statement made by Tourism and Aviation Minister Neko Grant last year. The prospect of the Royal Oasis reopening with new jobs and a boost to the economy has created a great deal of excitement on the island. Grant lauded the 30-year agreement between the two development companies.
”I wish to congratulate Harcourt Developments on successfully completing their negotiations with Foxwoods Development Company,” Neko said in a media release from Foxwoods. ”We are confident that Foxwoods’ reputation as high quality resort, casino, entertainment and retail operators will be a strong compliment to the re-launching of Grand Bahama Island as a major Bahamas destination.”
The Royal Oasis represents a major expansion of Harcourt’s interests in Grand Bahama. The company also owns multiple sites in Bahama and is the estate manager for the entire area.
”We’re delighted to have partnered with such world class operators as Foxwoods who have a wealth of experience and expertise in the leisure industry,” said Pat Power, Harcourt Developments director, in a release. ”We look forward to our working relationship with Foxwoods for many years to come and their involvement in the project is a testament to the future of Grand Bahama.”
Foxwoods Development has 16 years of experience in growing Foxwoods Resort Casino into North America’s largest casino and one of the top casino resorts in the world. The development company has a license to operate a casino in Philadelphia and is developing a gaming resort in southern California with another American Indian tribe, and has other commercial gaming activities in various stages of development.
”We’re very pleased to partner with Harcourt Developments on such an exciting project to restore the former Royal Oasis property to a premier destination resort,” said Joseph Colebut, chairman of the Foxwoods Development Co. board of managers, in a release. ”In the gaming resort world, the name Foxwoods is synonymous with quality and innovation. We look forward to bringing this same level of excellence to the project and Grand Bahama Island.”
Meanwhile, in anticipation of the May opening of MGM Grand at Foxwoods, the tribal business has partnered with NXTevent, a Boston-based event and destination management company. The partnership will develop ”the most in-demand meetings and conventions venue in the Northeast,” according to a Foxwoods media release.
”Providing a widespread range of turn-key solutions as well as creative concepts for seamless event execution, NXTevent and Foxwoods together will produce management strategies for awe-inspiring and seamless events,” the release said.
With the opening of MGM Grand, Foxwoods will have grown to more than 8 million square feet in size.
”We are very excited to announce Foxwoods’ partnership with Boston’s NXTevent,” said Joan Esneault, vice president of resort sales for Foxwoods and the MGM Grand, in a release. ”The company’s reputation for executing professional and flawless programs and events across New England bolsters Foxwoods Resort Casino’s and MGM Grand at Foxwoods’ ability to host the region’s most unparalleled meetings and conventions.”
