A rebirth is on the horizon for Grand Bahama Island. The Bahamas Ministry of Tourism, Investments & Aviation (BMOTIA) made the long-awaited announcement that an offer has been accepted for the purchase of Grand Lucayan, a beachfront resort located in the bustling city of Freeport.

Electra America Hospitality Group (EAHG) has entered into an agreement with Lucayan Renewal Holdings to buy the resort for $100 million.

With nearly $300 million in renovations planned, the new-and-improved Grand Lucayan will be transformed into an environmentally sustainable luxury hotel with approximately 200 rooms and 24 villas; an upscale convention-style hotel with more than 500 rooms that will cater to meetings, groups, and incentive travellers; as well as a family-friendly resort. To become environmentally sustainable, the property will utilise solar energy, establish a recycling program, and plant a garden to supply farm-to-table dining.

Electra America Hospitality Group also plans on revitalizing the resort’s golf course by adding a country club and villas for golf aficionados. A casino, world-class bars and restaurants, as well as a variety of pools, spas, and fitness facilities are also in the works, and Bahamian art, culture, and entertainment will be infused throughout.

Construction is set to begin this summer and will be completed by 2025.