Baha Marâs decade-long saga ends with a grand Bahamas resort debut
Baha Mar, a sprawling luxury resort on Nassauâs northern coast, is finally set to open its doors on 21 April 2017. The project, first envisioned in 2005, has faced years of delays, financial struggles, and ownership changes before reaching completion. Its launch marks a major moment for the Bahamasâ tourism sector, which has eagerly awaited the resortâs debut.
The idea for Baha Mar began in 2005 with Bahamas businessman Sarkis Izmirlian, who secured $1.6 billion in initial funding. Construction soon ran into trouble, however, and by 2008, China stepped in with a $2.5 billion loan. Additional financing came through China Construction America, but the project stalled again, leading to bankruptcy in 2015.
In 2017, Hong Kong-based Chow Tai Fook Enterprises (CTFE) acquired the unfinished resort. Under their management, construction resumed, though China retained majority control and insisted on using Chinese labour. Critics later raised concerns about the quality of work, but the project pushed forward. Now complete, Baha Mar spans 100,000 square feet of gaming space, a 30,000-square-foot spa, a Jack Nicklaus-designed golf course, and seven swimming pools. The resort will offer 2,300 rooms across three hotel brands: Grand Hyatt, SLS Hotels, and Rosewood Hotels. Only the Grand Hyatt, with 1,800 rooms, will open first, while the remaining rooms from SLS and Rosewood will follow later in 2017. As of 2026, ownership has shifted again, with the Export-Import Bank of China (Exim Bank) and partners like Fosun International now holding control.
The grand opening of Baha Mar arrives after more than a decade of setbacks and legal battles. Its success will play a key role in boosting the Bahamasâ tourism economy. The resortâs future now rests with its new operators, who will manage its expansive amenities and hotel offerings.
