In a recent speech on economic development, Bahamian Prime Minister Hubert Ingraham confirmed new owners were approved to buy Walkers Cay Hotel and Marina. The world-famous outpost for flats, reef and offshore fishing has remained stagnant since 2005, when hurricanes pummeled the resort.

“New owners have been approved to purchase the renowned Walkers Cay Resort, closed since the devastating 2005 hurricane season,” said Ingraham in his speech at the Abaco Chamber of Commerce. “They propose to refurbish and re-open the resort, returning Walkers to its previous status as one of the premier fishing destinations of the world. “

Rebuilding the resort is projected to be thorough.

“Some 50 to 100 persons are expected to be engaged during the construction phase,” said Ingraham. “And, we anticipate that as many as 150 persons will be engaged in its management and operation following completion of the development.”