The purchaser of Harbour Island’s luxurious Coral Sands resort yesterday told The Tribune the agreement was still awaiting government approval some six months after the acquisition deal was signed, although he is pressing on with efforts to upgrade the resort a “notch” to ensure it becomes “outstanding”.
US investor Victor Bubnow, who along with his partner Miami based attorney Thomas Sherman, is the resort’s new owner and operator, said in an exclusive interview: “We entered into a contract with the seller back in February and are still waiting for government approval.
“We’ve talked to the Prime Minister, met with him and got assurances but we are still for government approval. All the financing’s in place, all the money’s in place and it’s the last hurdle. We are just waiting for the rubber stamp.”
Mr. Bubnow, a former senior vice-president of the Miami Herald newspaper who has a strong background in finance and hospitality marketing, said the new owners had already “spent a significant amount of money – a couple of hundred thousand bucks” on plans to upgrade the 39-room luxury resort and marketing support.
Source: The Tribune
