The new owners of New Providence's world-renowned Compass Point resort are hoping to re-open the property to hotel guests this September, having "sunk several million dollars" into upgrading it following the purchase.
Leigh Rodney, one of the four-member consortium that has acquired the property from the Island Outpost chain, said they hoped to "make it somewhat of an entertainment destination" while retaining its upscale, niche appeal.
Apart from Mr Rodney, the other partners in the ownership group include Bahamian attorney Paul King, of King & Co. The remaining two partners are Gilles Trahn and Martin 'Skip' Scully, who will run and manage Compass Point with his wife, Linda. Mr Scully previously ran a restaurant at a Hilton Garden Inn Hotel.
Mr Rodney said the investors were still awaiting to have the purchase formally approved by the ï¾ Government, adding that they were sorting out an agreement with Island Outpost where the latter would still be responsible for marketing and promoting Compass Point to potential clients.
Mr Rodney said he had purchased Compass Point because it was "just a beautiful property with much more potential than it had in the past".
He added: "We hope to open the hotel in September for people booking and staying in rooms."
The restaurant's opening to the general public was likely to lag until October, Mr Rodney said, but it would "run a limited menu for hotel guests" up until that time. The opening schedule, he added, was still subject to possible change.
Mr Kodney said Compass Point would begin taking applications from potential employees and start the hiring process in June this year.
Prior to its closure, following the severe damage it sustained from Hurricane Frances in September 2004, Compass Point had employed between 40 to 45 workers, leaving the resort "overstaffed" for the level of business it was then doing.
Mr Rodney said the new owners planned to hire 30-35 people for the level of business the property had been doing before it closed, adding that this could eventually rise to up to 50 staff.
"We hope to make it somewhat of an entertainment destination, a late night spot people come to enjoy," Mr Rodney said.
Compass Point would seek to have dancing and musical entertainment, budget permitting, with the window where food was previously delivered to customers sitting on the ocean converted into a "large bar".
Mr Rodney said the resort had also entered into an agreement to acquire its immediate "neighbour to the east", thus minimising any noise disruption to nearby residents.
The outdoor colour scheme for the resort's rooms will be retained, although the interiors will be redone, Mr Rodney added.
"It's an interesting venture for me," Mr Rodney said of the Compass Point acquisition.
He is president of Detroit Forming Inc, a Detroit-based designer and manufacturer of rigid plastic packaging, a family-owned business that was started by his father in 1962.
Mr Rodney told The Tribune that he had been visiting the Bahamas for 20-30 years, having first come here in the 1970s and visited this nation once a year since then.
He owns a residential property at Love Beach, which helped him become familiar with Compass Point.
When it closed in 2004, Compass Point had 19 units and was targeted at high net worth individuals seeking exclusivity and a relatively quiet retreat, combined with water-based activities. The accommodation includes 13 huts and cottages, five cabanas and one three-bedroom apartment.
Designed to provide the feel of a Family Island resort on a heavily-urbanised New Providence, Compass Point's restaurant was always attractive to Bahamians and residents. However, the property was understood to have experienced difficulties in consistently attracting high-paying tourists to stay in the accommodation offered, rather than a typical New Providence hotel.
Although the purchase price was not disclosed, The Tribune had been previously told that Island Outpost had been seeking $4 million for the property.
The Compass Point Recording Studios were not included in the deal. The resort had largely gained fame through the studios, which have hosted talents such as Lenny Kravitz, Celene Dion, Bob Marley, the Rolling Stones and Jimmy Buffet.
By NEIL HARTNELL Tribune Business Editor
