Hamilton Princess: Explore Residential Options
The Fairmont Hamilton Princess will be exploring the option of developing luxury residential units at the hotel. Last month it was announced that companies incorporated in Bermuda will be permitted to acquire residential property in Bermuda that forms part of a tourism development. One of the stated objectives of the Companies Amendment (NO.2) Act 2010 was to allow exempted companies to be able to control their housing costs, which Government said will make Bermuda a more attractive place do to business.
The CEO of the hotel’s parent company said that new law played into their decision making, saying “We are excited about the opportunity that the new legislation offers and we commend the Government for introducing it.”
-
Laurent Poole, CEO, Bermuda Resorts Limited, the company that owns The Fairmont Hamilton Princess said:
-
In light of the recent passage of the Companies Amendment Act 2010 in the Senate authorizing international companies to purchase or lease hospitality units on hotel properties in Bermuda, we’re pleased to announce that we are exploring the option of developing luxury residential units at The Fairmont Hamilton Princess.”
We are excited about the opportunity that the new legislation offers and we commend the Government for introducing it. These changes may allow our property to expand the inventory of luxury hospitality units and offer even more accommodation options to the island. The Fairmont Hamilton Princess is a natural choice for luxury living in Bermuda and we will be working closely with Government and international companies in the coming months to study the options of introducing a world-class offering.
The 125 year old hotel, the only major hotel in Hamilton, presently offers 410 guestrooms, including 43 suites, and more than 30,000 square feet of various facilities. Other Bermuda hotels to have introduced residential units include Tucker’s Point, Newstead, Belmont and The Reefs.
“Were excited”…..?
Now where have I heard those words before……
Irony.