Baha Mar
1 Introduction:
In earlier days a resorts used to be a place to head for a vacation for relaxation and recreational activities. But modern day theory of “Mixed Use Development” and scarcity of free time for leisure activities gave birth to a resort which will not be too far away from home. Furthermore it will be place were more than one kind of entertainment will be provided. This theory gave the idea of an Integrated Resort. Although an Integrated resort is a fancy name given to a resort with a casino, but still the idea is catching on with the global tourism industry. Under the concept of Mixed Use Development a single company will develop a big multi-faceted project which will be housed on separate pieces of land. This can include a spa, casino, theatres, convention halls, shops, restaurants, theme parks, sport activities along with a resort hotel. But for a resort to become an “Integrated Resort” it must have a casino.
Bahamas is an island country comprising of about 700 islands off the eastern coast of United States near Cuba. The economy of the country is mostly single crop depending on the tourism industry. With the 60% of total GDP coming from the tourism industry, continuous growth of the tourism sector is essential for the country’s economic sustainability. Keeping the economy in mind and the viability of an Integrated Resort in an island country Nassau was in dire need of a resort with a casino. On 30th March 2010 an agreement was reached to develop an integrated resort on the island of New Providence. The resort will be named Baha Mar and will be opened by December, 2014. The resort will encompass four hotels with around 2,200 rooms, 307 private residences, a 100,000sqft Casino, a 30,000sqft Spa and a Golf course.
2 Environment Analysis:
For a huge project like the Baha Mar resort and Casino with an approximate investment of about USD3.5 Billion dollars it was necessary to an analysis of the macro environment of the region. 2.1 Political
In earlier days a resorts used to be a place to head for a vacation for relaxation and recreational activities. But modern day theory of “Mixed Use Development” and scarcity of free time for leisure activities gave birth to a resort which will not be too far away from home. Furthermore it will be place were more than one kind of entertainment will be provided. This theory gave the idea of an Integrated Resort. Although an Integrated resort is a fancy name given to a resort with a casino, but still the idea is catching on with the global tourism industry. Under the concept of Mixed Use Development a single company will develop a big multi-faceted project which will be housed on separate pieces of land. This can include a spa, casino, theatres, convention halls, shops, restaurants, theme parks, sport activities along with a resort hotel. But for a resort to become an “Integrated Resort” it must have a casino.
Bahamas is an island country comprising of about 700 islands off the eastern coast of United States near Cuba. The economy of the country is mostly single crop depending on the tourism industry. With the 60% of total GDP coming from the tourism industry, continuous growth of the tourism sector is essential for the country’s economic sustainability. Keeping the economy in mind and the viability of an Integrated Resort in an island country Nassau was in dire need of a resort with a casino. On 30th March 2010 an agreement was reached to develop an integrated resort on the island of New Providence. The resort will be named Baha Mar and will be opened by December, 2014. The resort will encompass four hotels with around 2,200 rooms, 307 private residences, a 100,000sqft Casino, a 30,000sqft Spa and a Golf course.
2 Environment Analysis:
For a huge project like the Baha Mar resort and Casino with an approximate investment of about USD3.5 Billion dollars it was necessary to an analysis of the macro environment of the region. 2.1 Political
References: Bahamas Local. 2011. Another Downgrade- a call to action. [online] Available at: http://www.bahamaslocal.com/newsitem/34549/Another_Downgrade_a_call_to_action.html [Accessed August 18 2013]. Chinese Embassy. 2013. The Chinese Dream. [online] Available at: http://bs.chinesembassy.org/eng/ [Accessed August 18 2013]. Nalley. R. 2013. Baha Mar: The Biggest Thing in The Bahamas. [online] Available at: http://www.forbes.com/sites/richardnalley/2013/03/16/baha-mar-the-biggest-thing-in-the-bahamas/ [Accessed August 18 2013]. Travel .State. Gov. 2013. Bahamas- The Country Specific Information. [online] Available at: http://travel.state.gov/travel/cis_pa_tw/cis/cis_989.html [Accessed August 17 2013].