thebahamasweekly.com - Old Bahama Bay transitions lodging unit management to condominium owners

From:TheBahamasWeekly.com

Grand Bahama
Old Bahama Bay transitions lodging unit management to condominium owners
By Keen i Media Ltd
Dec 16, 2011 - 12:48:10 PM

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WEST END, GRAND BAHAMA — Consistent with its established effort to focus attention on the development and operation of the commercial and utility properties it owns, the Old Bahama Bay Resort (OBB Resort) development company has announced that it will not renew its rental management agreement with the condominium owners at the resort.

A proposed continuation plan would result in the property and rental management responsibilities reverting to the condo owners themselves, while OBB Resort will continue to operate the marina and oversee food and beverage operations.

Contrary to reports in the local press, Old Bahama Bay Resort is not closing operations.

Those employees directly involved in the rental and property management would now fall under the management and the responsibility of the 73-unit condo owners.

Indications are that the condo owners will continue to operate their units at Old Bahama Bay Resort and may maintain some of the existing human resources as they are today.

Old Bahama Bay Resort will continue its efforts to extend the development community of West End, which includes seeking out capable third party operators for its various assets in the region. These steps will further clarify and streamline the developmental structure, and allow for greater progress to be seen for West End and Grand Bahama Island.