The Royal Beach Club at Paradise Island Will
Create a Unique Investment Opportunity for Bahamians
MIAMI, March 8,
2023 /PRNewswire/ -- Royal Caribbean International,
the world's largest and most popular cruise line, is moving
ahead with the development of the first Royal Beach
Club after receiving approval from the government of The
Bahamas. The 17-acre destination
experience coming to the western end of Paradise Island in
Nassau, The Bahamas, will combine the island's
striking beaches with the cruise line's signature experiences to
create the ultimate beach day – The Royal Beach Club at Paradise
Island.
Crafted in close collaboration with the Bahamian
government, the new project will feature a public-private
partnership in which Bahamians will be invited to
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."
Alongside private cabanas, stunning pools and more, the vibrant
Bahamian spirit and culture will come to life throughout the
world-class destination experience. Vacationers will be welcomed by
local architecture that complements the exceptional views of The
Bahamas' turquoise-blue waters and
white sand beaches, along with experiences that feature Bahamian
fare, island-style barbecues, live music and local artisans.
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 Bahamian
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.
About Royal Caribbean International
Royal
Caribbean International, owned by Royal Caribbean Group (NYSE:
RCL), has been delivering innovation at sea for more than 50 years.
Each successive class of ships is an architectural marvel that
features the latest technology and guest experiences for today's
adventurous traveler. The cruise line continues to revolutionize
vacations with itineraries to 240 destinations in 61 countries on
six continents, including Royal Caribbean's private island
destination in The Bahamas,
Perfect Day at CocoCay, the first in the Perfect Day Island
Collection. Royal Caribbean has
also been voted "Best Cruise Line Overall" for 20 consecutive years
in the Travel Weekly Readers Choice Awards.
Media can stay up to date by following @RoyalCaribPR on Twitter
and visiting RoyalCaribbeanPressCenter.com. For additional
information or to make reservations, vacationers can call their
travel advisor; visit RoyalCaribbean.com; or call (800)
ROYAL-CARIBBEAN.
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SOURCE Royal Caribbean International