Grand Lucayan Resort

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Miami-based Concord Wilshire Capital (CWC) has acquired the Grand Lucayan Resort from the Bahamian government for $120 million. The deal reportedly includes the 56-acre beachfront resort and the adjacent 160-acre Reef Golf Course. According to Richard Bosworth, CEO of the Concord Wilshire Resort Gaming Hotel Division, demolition of the Reef and Breakers Hotels is expected this year/2025, with new construction starting in 2026 and completion set for 2028.

CWC plans to transform the property into a mixed-use destination through a strategic partnership with top-tier brands. The redevelopment will feature a 36-acre cruise port resort capable of hosting up to 10,000 cruise passengers daily and open to all cruise lines. Plans also include a 25,000-square-foot standalone casino, both indoor and poolside; a branded resort with 350 hotel rooms and 120 residential and timeshare units; a redesigned 160-acre Greg Norman Signature Championship Golf Course; and an 18-slip mega yacht marina. The total projected investment, including land and redevelopment, is around $827 million.

The revitalized Grand Lucayan Resort will be accessible by both sea and air. Guests—including locals, cruise passengers, and international travelers—will enjoy access to premium amenities such as a water park, dive and fishing charters, boat rentals, and guided excursions, alongside the casino and golf course.

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