Wyndham Nassau Plans 8-Week Shutdown

The Wyndham Nassau Resort and Crystal Palace Casino in Nassau, Bahamas, will shut down for eight weeks, from Aug. 17 through Oct. 5, to reduce operational losses during the traditionally slow tourist season, according to officials of parent company Baha Mar.

“Given the severe global economic downturn, we finished 2008 with combined operating losses and debt service expenses in excess of many millions of dollars,” said a statement from Baha Mar, which also operates the Sheraton Nassau Beach Resort. “In addition, utility rates increased 35 percent, bringing the total for 2008 utility expenses to $15 million.”

Faced with the possibility of the economic downturn continuing or worsening, “losses for 2009 could exceed what the firm experienced in 2008,” Baha Mar said.

While the move to temporarily close the property will help save more than 700 jobs at the Wyndham, “we hope that it will not last long,” said Bahamas Labor Minister Dion Foulkes.

Foulkes said the Bahamas “is in a good position to soften the negative impact through various incentives and stimulus packages already on stream.”