Green Family Purchase Hamilton Princess

September 27, 2012

Peter Green and his sons, Alexander and Andrew Green — who are Bermudian —  have purchased The Fairmont Hamilton Princess from Global Hospitality Investments [GHI], which has owned the hotel since September 2007.

The property will continue to be managed by Fairmont Hotels & Resorts and there will be no changes to staff or operations as a result of the sale.

The Green family will invest a minimum of $50 million to enhance the property in order to further strengthen its position as one of the island’s greatest tourism assets, a press statement said.

Alexander and Andrew Green:

The family will continue the development plans started by GHI, which include building a marina, upgrading rooms, redeveloping the hotel’s public spaces including the pools, gardens and restaurant to increase the property’s leisure credentials, while maintaining its existing appeal to business travellers.

The Green family has a history of owning  hotels. From 2004-11, they had a 25 per cent stake in the Maybourne Group, which owns The Berkeley, Claridge’s and The Connaught.

Alexander Green, on behalf of the Green family, says: “Taking ownership of such a prominent and historic landmark in Bermuda is a dream come true for our family and we are excited about expanding its contribution to the local economy. We are developing a long-term investment plan for The Fairmont Hamilton Princess informed by our extensive knowledge of the island based on our family being based here for 65 years.”

Andrew Green said: “While the hotel has traditionally attracted business visitors, we believe that there is great potential to increase the leisure side of the business through enhancements to the hotel’s leisure facilities. The hotel has a superb team of management and staff in place, some of whom have devoted as many as 40 years of their lives to its success.

“We look forward to continuing the good work that GHI has done with plans to upgrade the hotel on an ongoing basis. This further investment in Bermuda continues to show our dedication to the Island and our unshakable faith in its long term prospects.”

Wayne Furbert, Minister of Business Development & Tourism, says: “It is exciting to have The Fairmont Hamilton Princess return to Bermudian ownership and we believe that the Green family’s investment in one of the island’s foremost landmarks is a mark of confidence in Bermuda and the future of the island’s tourism industry. The family’s international experience as an investor in one of London’s top hotel groups will be of great benefit to the hotel and to the island.”

Len Czarnecki, General Manager of The Fairmont Hamilton Princess, says: “We are looking forward to working with the Green family in building upon the existing success of The Fairmont Hamilton Princess. The property boasts a remarkable history of over 125 years welcoming both leisure and business tourists to Bermuda and helping to make their visit a memorable one. With this generous investment plan we hope to continue to turn moments into memories for many more generations of visitors to the island.”

Alexander Green adds: “We would like to thank the Government for their help in enabling us to complete the deal so quickly. We would also like to extend our appreciation to GHI and the respective legal and support teams for their assistance. We very much look forward to working with Len and the team at The Fairmont Hamilton Princess.”

The Green family also owns Overbay and the Waterloo House development of luxury commercial and residential accommodations on Pitt’s Bay Road, which passed the halfway point to completion this summer.

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Comments (69)

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  1. meow! says:

    Congratulations to the Greens, their properties have been all five star and they are obviously experienced with the likes of Bermudian hospitality which fits in with their other properties..Thanks for choosing to invest in Bermuda!:-)

  2. Opressed says:

    Congratulations!

  3. BERMUDIAN says:

    bda quick to sell something! smh

    • Mr b says:

      Quick to sell to a fellow bermudian? please show me how thats negative lol.. Stop being a hater and be happy its still locally owned..

      • J Stoneham says:

        I agree. Congrats to the Green family, looking forward to seeing the results of their investment.

      • Chart says:

        It wasn’t locally owned before – they bought it from a North American real estate investment company.

    • Vote for Me says:

      Bermuda did not sell. Bermuda Bought a HOTEL! Learn to celebrate.

    • Bermudian Too says:

      They are bermudians idiot

      • Family Man says:

        But they don’t look like ‘real’ Bermudians is what he meant.

        (sarcasm, in case it wasn’t obvious)

    • Chart says:

      This is the first time in recent history that a major hotel has been owned by Bermudians. So, yay!

      • Wait & See says:

        @Chart: What do you consider a ‘major’ hotel and what do you mean by ‘recent history’?

        Umm…there’s that ‘little’ hotel everyone seems to keep forgetting about: THE REEFS. Bermudian owned!

    • keepitreal says:

      THIS IS WHAT BDA NEED!!! MONEY STAYING A FLOWING IN IT. NOT LEAVING TO REBUILD THE USA!!!! THINK BE4 YOU TYPE EDUCATE YOUR SELF!!!
      THE GREEN NEED TO FOCUS ON MARKETING THE HOTEL AND MODERNIZING IT MAKING IT MORE APEALING TO THE NEW AGE TOURIST

  4. Confused says:

    Well at least it was sold to Bermudians

  5. Vote for Me says:

    This is truly amazing.

    It demonstrates that ‘people with money’ can be convinced to invest in Bermuda. I trust that such a clear demonstration of confidence in Bermuda’s future (and the tourism aspect in particular) will be the start of positive comments from all of us, notwithstanding the political climate.

    I note also that in addition to the purchase they have committed to $50m in furhter renovations!!

    Bring on the leisure and business visitors!!

    • Finally left! says:

      fingers crossed that this shows a positive directin for sure!!!!!

  6. Cedar Beams (Original) says:

    Very good news for Bermuda. They are good people.

  7. HeyBye says:

    Hopefully buying at the bottom of Bermuda’s economy at rock bottom price.

    • Bye and bye .. says:

      ‘Buying at the bottom of Bermuda’s economy at rock bottom price’ ??

      Er , no .. That’s still a long way off. maybe they should have waited another two years or so and saved many more millions !

      Wonder what really would have prompted them to actually buy now ? Regardless of a potential (and hopefull) change in government at the next election we’re not going to see any major change in the economy for at least 10 years.

  8. Outkasted says:

    Congrats indeed.. Just make sure Happy hour still stays! LOL :D

  9. Terry says:

    Navar herd of dem.
    Must be Front Street, Tuckers Tahn boys.
    I smell a Ewart.

    • Come Correct says:

      Lol try his own island, this dude has $$$, his staff residence is bigger than most peoples houses. Cool guy, likes Bob Marley too. I could be wrong but isnt he building that buiding by PW’s marina too? Don’t end up like Belvins, whole lot of empty realestate.

  10. Kathy says:

    Is this another “Waterloo” in the making?

  11. Terry says:

    I see cedar…….streams of grey……….

  12. Chart says:

    Please buy Coral Beach too!

  13. What Options says:

    Hmmm, investment in Bermuda. What will the OBA say?

    • Vulpes says:

      Smart business people these Greens: they bought it cheap knowing it will cost more after this Government leaves office.

  14. allison conyers says:

    Congratulations! Thank you Green family.

  15. 32n64w says:

    Congratulations Green family!

    • New Direction says:

      check out Mr. Green congratulated the GOVERNMENT , YES THE GOVERNMENT FOR THEIR ASSISTANCE. No need to vote OBA…change a coming via the PLP

      • Come Correct says:

        Oh where are my manners, thank you plp for fixing what you f@cked up in the first place. Of course he’s going to thank the government, who wants to buy a hotel and then be wrapped in red tape? Sorry to burst your bubble but change is coming via the election, once thats out of the way we’ll go back to the downward spiral. The hotel doesn’t make money if guests don’t fill the rooms…Wayne!

        • CORRECTION#1 says:

          OBA MPs Right now sitting in parliament and on the OBA sidelines – left the PLP a F@cked up tourism industry. Mucho credit to the government of the day – 2 exciting upward mobility for the economy this week. Go have a Rum, smoke a duchie or whatever – I will deal with the PLP rather than the UNKNOWN OBA. Looking at them all in my book their morals are low – just cheating cheaters from the head down.

  16. decostamymoney says:

    yes thats right buy it now before the OBA wins, then the price will go up because they know once government changes hands, there will be plenty of investers wanting to get into this market knowing that tourism will begin to get back to how it used to be !

    • Jeff says:

      Tourism will never get back to what it used to be. The Princess has the advantage that it brings in the buisness traveler and keeps the money rolling in during the winter months. Why is no one jumping to buy Newstead or Pink Beach. Tuckers Point is loosing a million dollars a month. The cost of running a hotel in Bermuda is too high and Bermuda hotels do not have the high end product for which it charges. If St Regis goes ahead it may have some big impacts on the Princess. In one month most hotel employess will be on lay offs. Bermuda’s tourism is dead.

  17. Marc G Daniels says:

    Alex and Andrew, I am so very proud of your accomplishments! Well done for demonstrating your committment to our island home and working to improve on its legacy for generations to come! Much respect to you both and of course your father.

  18. g-GURL says:

    CONGRATS TO THE GREEN FAMILY ! HURRAY FOR BERMUDA !

  19. Rumandcoke says:

    The Green family are the most loyal supporters of Bermuda. How many hundreds of young people have they helped put through universities let alone the many people they have quietly assisted through difficult times such as illnesses and misfortune.
    The island is incredibly fortunate to have these Bermudians who have always been quietly supporting this community for years upon years with no publicity and no fanfare.

    • Triangle Drifter says:

      So true. The Greens are not alone. Many have been quietly helped over the generations by longstanding families who sought no recognition for what they did. Not so much now. The ungrateful do not deserve help.

    • Opressed says:

      So true, they are a class act!

  20. Truth (Original) says:

    I am very thankful for the Greens !

  21. Smh says:

    Where these guys born with a Golden spoon in their mouth’s or did they work for what they’ve accomplished? #umjussayin

    • Shameless says:

      I don’t know but it doesn’t matter how they got, they got it…I just want to know whether either of them single or not. #chaching

      • Petra says:

        hahaha – @shameless – you do realise I now have to clean the coffee from my keyboard!

        But admit I was thinking the same – double date? hahaha

        • BermudaLove says:

          They worked very hard for what they have.

          They are an EXTREMELY generous family. All of them have a good head on their shoulders.

        • Shameless says:

          :) So sorry about your keyboard!

          I’m down for a double date, so long as I get the one on the left!

    • moojun says:

      Well one things for sure, regardless of whether they were born with money or made it, they clearly believe in Bermuda, and are willing to put their money to work here. I say… Thank you!

  22. To smh
    Both!!
    Try that
    Seen so many kids with golden spoons self destruct.
    Well done Greene guys.
    Smh stop hating and put a golden spoon in your offspring mouth

  23. Skink says:

    Having personally worked for the Greens over the years both out at “the island” as well as Waterloo I know they have Bermuda, as well as fellow Bermudians at heart. Your mother would be proud of you gents. Thank you for buying Bermuda. Bless.

    A.P.S.

  24. Wheerzs Waldo? says:

    Awesome news. Great to hear,

  25. tricks are for kids says:

    Congrats to the Green family……Glad to know that you plan on keeping the same staff as well………………………..

  26. The Shadow says:

    I am really glad to see the Greens move on with buying more of Pitts Bay road…They seem to be very successful in their endeavors and it may just be that they will revitalize this old landmark…BTW…This hotel was started by Bermudians and when I was a young man in the 1960′s it was a fun place for locals to go on a weekend then it was bought by Mr. Daniel Ludwig and went out of Bermuda ownership…

  27. Patricia says:

    Thank you Green Family. Only heard of you through your assistance to young people and the scholarship you offer. You are obviously committed to Bermuda and for that I say thanks.

  28. Amazed says:

    Great news!!

  29. James says:

    Nice to see they have had a change of heart. They were leaving in 2000.
    http://www.tax-news.com/news/Bermuda_Investment_Company_Moves_Core_Business_To_Dublin____717.html

  30. Pastor Syl Hayward says:

    Thank you to the Green family! It is not only a wonderful feeling to know that the beautiful landmark hotel that is Hamilton Princess will be upgraded, but also to have a blog thread that is almost entirely positive. Even though there is much that could be said about the timing, I am just happy to get some good news.

  31. Bermudians 4 Bermuda says:

    Dear Peter, Alexander and Andrew: We appreciate your family’s philanthropic support for all of Bermuda. With your family investments you could of invested just about anywhere in the world, but CHOOSE BERMUDA and shared appreciation for this government! Again Thank you!

  32. Nicole says:

    Mary-Jean would be so proud of how her boys have turned out. Thank you Peter for continuing to guide them.

  33. In Mark's Opinion says:

    Great news, Thank you to the Green family, only Bermudians have the heart to bring Bermuda back.All the best with the Princess Hotel