Baha Mar is a 1,000-acre resort complex on the island of New Providence in the Bahamas, close to its capital Nassau. Owned by Hong Kong-based Chow Tai Fook Enterprises, the establishment opened in April 2017. The amenities include three hotels (a Grand Hyatt, SLS Baha Mar, and the Rosewood) with a total of 2,200 rooms, 284 private residences, a casino of 100,000-square-foot (9,300 m2), a 30,000-square-foot (2,800 m2) spa, and a Tournament Players Club golf course designed by Jack Nicklaus.
On 30 March 2010 an agreement on the redevelopment of the resort was announced between a local Bahamas based investor and the government, in order to help revitalize Cable Beach, the most popular beachfront destination on New Providence Island. The project would subsequently be joined by other investors, which led to it being financed by China Exim Bank, while construction would be performed by China Construction America. Groundbreaking for the redevelopment took place on 21 February 2011 with the resort opening expected on March 27, 2015. The whole project would eventually cost around US$4 billion. By April 2016, construction was halted for nearly a year with the resort 97% complete following the original investor's Chapter 11 bankruptcy filed in 2015 in a Delaware court (sidestepping Bahamas jurisdiction) but dismissed in September. A Bahamian judge subsequently put provisional liquidators in charge.
In December 2016, Chow Tai Fook agreed to buy Baha Mar from the Exim Bank. Chow Tai Fook assumed management of the property in March 2017, and completed its purchase in December 2017.
The resort initially opened with only one hotel, the Grand Hyatt. The SLS opened in November 2017, followed by the Rosewood in June 2018.
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Source of article : Wikipedia
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