Two well-known hotels in Nassau once financed by the collapsed Lehman Brothers are being offered for sale in a secret auction, as their owners try to recoup cash from their assets.
The 246-room Paradise Island Harbour Resort and the 183-room Nassau Palm Hotel have been quietly put on the market, with a September 24 deadline set for bids from possible buyers.
The Palm Hotel has been without a general manager for at least two months and has “lost some market share due to its condition”, meanwhile its sister on Paradise Island is ranked 15th out of 15 on TripAdvisor for places to stay on the island, targeting the budget all-inclusive market but without free access facilities to its near neighbor Atlantis.
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