Local Firm Grows Hospitality Portfolio

WEST PALM BEACH, FL-Driftwood Ventures Inc. is buying the Bahamia Resort and Casino in Freeport from Lonmin PLC for $59 million. Lehman Brothers is funding the deal.

By Harold Kelman | August 01, 2000 at 01:01 AM

The property features a 395-room tower, a 565-room country club, a 20,000-sf casino, 98 timeshares and two 18-hole golf courses.The tower will be renamed the Crowne Plaza Resort. The country club will become a Holiday Inn Sunspree, reportedly the first dual-branded hotel-resort project in the Bahamas.

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

1 Blackstone Says Tariffs Are Affecting CRE Investment

2 CRE's Women of Influence 2025

3 Economists Continue Raising the Likelihood of Tougher Economic Times

4 Amazon Signs One of Midtown Manhattan's Largest Office Deals Since Pandemic

5 CRE Spreads Widen as Tariffs Drive Lenders to Tighten Credit

Real Estate
GlobeSt. ELITE Women of Influence (WOI) 2025
July 21, 2025 - Denver

GlobeSt. Women of Influence Conference celebrates the women who drive the commercial real estate industry forward.
More Information
Real Estate
GlobeSt. Multifamily Fall 2025
October 15, 2025 - Los Angeles

Join the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!
More Information
Workers' Compensation Risk Management Award for Excellence Nominations
May 05, 2025 - Nomination Deadline

The 2025 Workers Comp Risk Management Award for Excellence honors outstanding loss control, safety and return-to-work programs.
More Information

Hotel Loyalty Programs Surge to 675M Members

By Kristen Smithberg | April 15, 2025

While costs are increasing, loyalty programs are still effective at ensuring steady room demand.

Hotel Loyalty Programs Surge to 675M Members

Terra and Turnberry Get $392M Loan for Miami Beach Hotel After 7 Years of Planning

By Anthony Russo | April 11, 2025

Groundbreaking appears that it will begin soon.

Terra and Turnberry Get $392M Loan for Miami Beach Hotel After 7 Years of Planning

Oakland Hotels Keep Falling Like Dominoes

By Jack Rogers | April 11, 2025

Lender takes keys for downtown Marriott in deed in lieu of foreclosure.

Oakland Hotels Keep Falling Like Dominoes

Leveling Up: Choosing the Best Renters Insurance Partner for Your Multifamily Housing Portfolio link

Guide

Sponsored by Assurant

Leveling Up: Choosing the Best Renters Insurance Partner for Your Multifamily Housing Portfolio

Picking the right renters insurance can be a headache. This guide will help you find the perfect partner for your multifamily properties so you can boost resident participation and lower your risk.

Browse More Resources ›

The Return to Office: Recovery Still Underway link

Guide

Sponsored by Placer.ai

The Return to Office: Recovery Still Underway

Are you noticing unexpected shifts in office occupancy and commuter behavior? This report reveals how evolving work patterns are challenging CRE brokers and offers crucial, data-backed insights for 2025. Discover a detailed analysis of office visit fluctuations, an in-depth look at midweek work trends, accurate forecasts for market recovery, real-world examples to inform strategic decisions, and actionable metrics to guide client advising. Download your copy today!

Browse More Resources ›

The State of Commercial Property Management Technology in 2025 link

Report

Sponsored by Building Engines

The State of Commercial Property Management Technology in 2025

Commercial property teams are navigating changing times where technology plays a crucial role in operations, tenant satisfaction, and sustainability. This report, based on insights from 370 industry professionals, reveals the biggest priorities, challenges, and opportunities for CRE technology adoption in 2025. Don’t miss it.

Browse More Resources ›