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Sunday, September 13, 2009
The Four Seasons Resort Great Exuma - a well known luxury resort in the Bahamas - is shutting down for business May 26.
Just like our resort, resorts on paradise island Bahamas are struggling to keep the high end tourists coming. Like during any economical recession: high end tourists tie their belts and seek less expensive beach travel destinations like Malacca Beach in Malaysia.
We do have to point out that if you look around on the Internet, you can still find bargains to visit the high end resorts for a not so high end price!
US is struck the hardest though and Bahamas vacations are visibly on the decline. That's why the Four Seasons Resort Great Exuma at Emerald Bay, which only opened in 2003 and had troubles paying its debts in 2007, will close May 26.
This resort is part of a 500-acre (202-hectare) development that includes a marina and golf course.
The good news is that there already is new ownership in place and the government is helping the search for investment to acquire and reopen the hotel.
The bad news is that although there are plenty of cheap and good Bahamas vacation packages on offer, most big Bahamas resorts have announced layoffs as the world economic crisis slashes tourism across the Caribbean:
For example: In January, the Westin and Sheraton Grand Bahama Our Lucaya Resort laid off 181 employees, which is about 1 fifth of its beachfront work force.
Meanwhile the sprawling Atlantis Resort Paradise Island Bahamas has dismissed about 800 workers this season.
Baha Mar Resorts Ltd. however laid off only 80 employees at two Bahamas locations.
Reason why they are doing better is that they got fresh capital from Chinese investors, who are also bringing their workers over. Since traveling is a world wide business, no need to jump up and down when China brings over a Chinese workforce. Better that than no more resorts in the Bahamas.
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