ROYAL CARIBBEAN'S BEACH CLUB IN THE BAHAMAS MOVES FORWARD FOR 2025 OPENING

Royal Caribbean International has received government approval to move forward with its first Royal Beach Club at Paradise Island, Bahamas, set to open in 2025.

Rhea-AI Summary

Royal Caribbean International has received government approval to move forward with its first Royal Beach Club at Paradise Island, Bahamas, set to open in 2025. This 17-acre project will feature a public-private partnership, allowing Bahamians to own up to 49% equity and involve local businesses in management. The venture aims to generate hundreds of jobs and promote tourism, with a share of profits being reinvested in the community. Enhanced by local culture, the beach club will showcase Bahamian architecture, cuisine, and entertainment, solidifying Royal Caribbean's commitment to enhancing tourism in the Bahamas.

Positive

• Approval received from the Bahamian government for the Royal Beach Club project.
• Public-private partnership allows Bahamians to own up to 49% equity, fostering local investment.
• The project is expected to generate hundreds of jobs during construction and operation.
• The beach club will enhance tourism and local culture, driving more visitors to the Bahamas.

Negative

• None.

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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

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What is the Royal Beach Club project by Royal Caribbean?

The Royal Beach Club is a 17-acre destination experience at Paradise Island, Bahamas, set to open in 2025.

When will the Royal Beach Club open?

The Royal Beach Club is expected to open in 2025.

What is the investment opportunity for Bahamians in the Royal Beach Club?

Bahamians can own up to 49% equity in the Royal Beach Club project.

How will the Royal Beach Club impact local jobs?

The project is expected to create hundreds of jobs during its construction and long-term operation.

What cultural elements will be featured at the Royal Beach Club?

The beach club will showcase local architecture, Bahamian cuisine, live music, and artisans.