Carnival unveils $100M pier extension for new Bahamas destination

Thursday, February 22, 2024

Carnival Corporation & plc (listed on both the New York Stock Exchange and the London Stock Exchange under the ticker symbols CCL and CUK, respectively), the leading cruise operator globally, has unveiled its intention to invest $100 million in expanding the pier at Celebration Key™. This development is set to enhance the docking capabilities of Carnival Cruise Line’s forthcoming exclusive locale on Grand Bahama Island, poised for a summer 2025 debut. The project will introduce two additional berths to the originally planned pair, enabling the dock to service up to four of Carnival’s grandest Excel class vessels simultaneously by 2026. Upon completion, this expansion will allow the facility to host nearly 4 million visitors each year to Celebration Key by 2028.

This ambitious pier extension was disclosed on Thursday, Feb. 22, during the 25th Annual Grand Bahama Business Outlook by Deputy Prime Minister and Minister of Tourism, Investments & Aviation in The Bahamas, The Honorable I. Chester Cooper. He highlighted the significance of this venture for Grand Bahama, noting it as a testament to the thriving partnership between The Bahamas and Carnival Corporation, and underscoring the attractiveness of The Bahamas as a prime destination. Cooper emphasized that Celebration Key is crucial for bolstering the economic development of Grand Bahama and the broader nation.

Tailored for the exclusive enjoyment of Carnival Cruise Line guests, the master plan for Celebration Key envisions a sprawling area replete with extensive attractions designed to comfortably accommodate the surge in visitors anticipated in 2027. Among its features are a mile-long, pristine sandy beach—the largest freshwater lagoons in the Caribbean—and a variety of dining, shopping, and entertainment venues. The destination will comprise five unique sections, or portals, ensuring guests have ample space and opportunities to find pleasure in diverse activities.

“As is fitting for our plans for Grand Bahama island, our vision for Celebration Key is quite grand, and we’re already thinking about the next phase of expansion and development,” said Christine Duffy, president of Carnival Cruise Line. “Building the second pier now allows us to implement growth plans and build itineraries with certainty, and signals to the local community just how important this development is to Carnival Cruise Line and the future of the island.”

Carnival Corporation is dedicated to fostering a distinctly Bahamian experience in dining, shopping, and entertainment by collaborating with local officials, community leaders, and businesses. This collaboration aims to open up numerous employment and business opportunities for Bahamian firms, excursion providers, builders, and entrepreneurs. Furthermore, the company is committed to hiring Bahamians for key roles in human resources, operations, and community relations, with ongoing efforts to recruit for several senior positions.

The $100 million investment in the pier extension elevates the total investment in this flagship project to $600 million, marking it as Carnival Corporation’s most ambitious initiative to date. The initial phase, featuring the first two berths, is expected to generate over 700 permanent jobs and bring 2.2 million visitors annually to Grand Bahama starting in 2025.

The completion of the additional berths will increase the annual guest count to Celebration Key to 4 million by 2028. An economic impact analysis by Tourism Economics, part of Oxford Economics, forecasts that over the next 20 years, the project will significantly boost Bahamian employment, GDP, and government revenues, creating over 2,500 direct jobs in the Bahamas, generating $3.2 billion in government revenue, and contributing $9.7 billion to the national GDP.

Carnival Corporation and Carnival Cruise Line plan to share further details about Celebration Key’s features and development milestones in the near future.

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