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.
SOURCE Royal Caribbean International