Exuma Resort in Bahamas 'Under Contract'

The all-inclusive resort chain Sandals has contracted to buy the Emerald Bay resort in Exuma Bahamas, according to published reports.
The resort, formerly managed by Four Seasons, sits on one of the most beautiful pieces of Bahamas real estate imaginable. The beach of Old Bight fronts the hotel and overlooks gorgeous Elizabeth Harbour and Stocking Island.
Sandals hopes to close the sale within 45 days, The Tribune of Nassau Bahamas reports today.
This is the largest Bahamas real estate transaction to take place in a while.
The Bahamas minister of tourism has confirmed government's priority is to get the anchor Exuma hotel opened as quickly as possible, writes Tribune business editor Neil Hartnell.
Sandals is headquartered in Jamaica and is owned by Gordon ‘Butch' Stewart and his family. Sandals operates the award winning Royal Bahamian resort in Nassau Bahamas.
Sandals declined to comment on the Emerald Bay news.
Vincent Vanderpool-Wallace, the Bahamas minister of tourism, said the government wants Four Seasons back in business as quickly as possible to boost the Exuma economy.
That island in the south eastern Bahamas was hard hit when the resort closed, resulting in hundreds of job losses.
Indications are that the Bahamas government is fully behind the buyer, The Tribune reports.
Apart from the Royal Bahamian, Sandals has interests in the Royal Plantation chain, which plans to open a 21 villa boutique hotel on Fowl Cay, Exuma by the end of the year.
This is great news for the Bahamas real estate industry.