Crafted in close collaboration with the Bahamian government, the new project will feature a public-private partnership in which Bahamians can own up to 49% equity in the beach club. Local businesses and entrepreneurs will also have the opportunity to manage the vast majority of the experience. Overall, the new venture will generate hundreds of jobs across its construction and long-term operation.
“The Bahamas has been a phenomenal partner since the very start, when they became our first port of call more than 50 years ago,” said Michael Bayley, president and CEO, Royal Caribbean International. “As we continue to bring millions of visitors to experience attractions throughout Nassau each year, The Royal Beach Club at Paradise Island is the next bold adventure in Royal Caribbean’s commitment to both increasing tourism in The Bahamas and delivering memorable vacations to our guests.”
The beach club will be made up of 13 acres of land owned by the cruise line and 4 acres of Crown Land. The Crown Land will be contributed as equity in the new venture to ensure a share of the profits return to the government and the people in a first-of-its-kind agreement in The Bahamas. This, in addition to a new tourism levy, will go into reinvesting in the local community. The collaboration between the government, the community and Royal Caribbean will continue as the development moves through the stages of planning and completion.
More details about The Royal Beach Club at Paradise Island, set to open in 2025, will be revealed in the coming months.