Ground broken for $600 million expansion

By TAMARA McKENZIE Guardian Staff Reporter

With the completion of Atlantis' Phase III, the Bahamian resort will become a major competitor of the Walt Disney enterprises, according to resort magnate Sol Kerzner.

Kerzner International Limited officially broke ground on Wednesday to mark the first segment of its $600 million Phase III expansion on Paradise Island.

The development will include the construction of three new luxury villas at the Ocean Club, expected to come onstream in the latter half of 2004.

The Ocean Club expansion which began some three weeks ago, also includes a Marina Village project for which ground is expected to be broken later this year, followed in 2004 with construction starts for Harborside.

The Atlantis hotel's 1,200 room expansion and other elements of the expansion are expected to commence by the end of 2004.

Sol Kerzner, Chairman and Chief Executive Officer of Kerzner International who was joined on-site by Prime Minister Perry Christie and other dignitaries to mark the occasion, said that after attending a two-day planning session earlier this week to discuss the Phase III concept, it would "be unlike anything anywhere in the world."

"Not even close," he emphasised. "No one has thought of anything like this and I do believe that the opening of this hotel (Ocean Club), which would include even greater attractions and rides plus the hotel expansion, would do more for Atlantis, Paradise Island and also for The Bahamas as a destination."

He was all "pumped up and excited" over the project, he declared, as Atlantis Phase III would feature more amenities than the first two phases.

"The overall development is a $600 million development, and quite frankly, I don't think there is any company in the hospitality industry today that would undertake in this present environment, a development of this size which ultimately when it is completed, would be a $1.7 billion investment."

The scope of the investment indicated the "confidence that we at Kerzner have in the county, the government and its people," Mr. Kerzner said.

The Kerzner Chief said further that on completion of Phase III, about 4,000 new jobs would have been created, in addition to becoming a major competitor of Walt Disney enterprises.

Mr.Kerzner said that apart from the five star amenities offered at Kerzner International in The Bahamas, the greatest brand that it can boast of offering is its "genuine hospitality."

It is the hospitality that visitors really love, he said, intimating that, "What I love best is when folks walk up to me and say 'How do you get your people to be so friendly and hospitable'."

Bahamians provide genuine hospitality, he said, adding that Phase III will do much for tourism and economic growth.

Prime Minister Perry Christie said that Kerzner's commitment to go forward with Phase III, demonstrated the stability of the Bahamas' economy. He said that in addition to Mr. Kerzner, others have come to view The Bahamas as a safe and secure destination where they could bring their children and have a good time.

"It speaks well to the future that Kerzner International in the manner that they have done, continue with the expansion of its product here on Paradise Island," he said, adding that Mr. Kerzner must be a "partner" with the government and agree to "mutual commitments" to ensure integrity.

"We are partners and I do not wish to see myself or members of my Government, moving away from the sprit of partnership in this operation."

The Government's endorsement of the $600 million Phase III project was announced in May, clearing the way for the construction of new accommodations at the Ocean Club and also at Atlantis, where Kerzner plans to develop new meeting and function facilities, restaurants and retail space, water-themed attractions and a new golf course on nearby Athol Island.

Following the completion of Phase III in late 2006, Kerzner's total investment on the island will have increased to $1.7 billion since it opened Atlantis in 1994.

"This ambitious project reflects our commitment to supporting luxury tourism facilities for The Bahamas and keeping our product at the leading edge of the resort industry, delivering world-class service and continuing to promote Atlantis and the One and Only Ocean Club with an aggressive and innovative marketing plan," Mr. Kerzner said.

Planned aspects of the Phase III expansion are expected to include:

* 1,200 new rooms to be situated at Pirate's Cove, adjacent to Atlantis.

* A significant expansion to Atlantis' existing water-themed attractions, including, subject to environmental approvals, a new dolphin encounter attraction that is ideally suited for the world's largest marine habitat, second only to "Mother Nature".

* The Marina Village which is comprised of approximately 20,000 square feet of new restaurant and retail space around the Atlantis Marina.

* Approximately 120 new two-bedroom suites added to Harborside at Atlantis, a vacation ownership project adjacent to the resort.

* 50,000 square feet of new convention and meeting space.

* An 18-hole golf course on Athol Island, which lies just east of Paradise Island.

Caption: PHASE III- Sol Kerzner, Chairman and Chief Executive Officer of Kerzner International gives the ceremonial shovel to Prime Minister Perry Christie yesterday at the official ground braking of the first segment of its $600 million phase III expansion on Paradise Island. Staff Photo by Donald Knowles

Posted Thursday 11 September, 2003