[Updated - Minister Furbert told ZBM that the agreement was "terminated", however later released an official statement saying he "misspoke"]
The agreement between the Government and developers of the planned Park Hyatt resort has been “terminated,” Tourism Minister Waybe Furbert told ZBM.
The construction was supposed to have started some time ago, with initial press statements on the matter stating the resort was scheduled to open in 2012.
The St George’s property has not been used as a tourist resort for almost 25 years. The property was once a Holiday Inn, changed into Lowes, then taken over by Club Med, closed in 1988, and imploded in 2008.
Developer Carl Bazarian speaking about the project in 2010:
Multiple requests by Bernews to the Tourism Ministry for clarification about the matter have not been successful, however Tourism Minister Wayne Furbert told ZBM this evening: “The agreement with the Club Med, or Park Haytt, has terminated. We all know that the termination took place. But the Government is looking at its options of what it should do.”
Speaking on the matter this morning, UBP MP Charles Swan said: “Government’s silence on the Park Hyatt Act/Addax Holdings Lease Agreement is causing grave anxiety and undermining confidence in Bermuda, and internationally with potential developers, on its handling of the 80 acre property leased to Addax Holdings owned by Mr. Carl Bazarian for 132 years with an automatic renewal for a further 132 years.
““This lack of transparency being demonstrated by the PLP Government is totally unacceptable,” continued Mr Swan. “The people of Bermuda deserve to be updated on public lands by the Government of Bermuda and not subjected to public relation exercises.”
Update Sept 28th 12.06pm: Minister Furbert has now released an official statement saying he “misspoke” when he said the agreement was terminated. The full statement is below.
Yesterday, when I spoke on ZBM news, I misspoke when I said that government has terminated the Park Hyatt agreement.
\What I meant to say, is that the time period for the agreement has expired and that the agreement has lapsed. We are fully committed to a hotel in St George’s.
Mr Bazarian and his team are travelling to Bermuda and we will be meeting with him next week.
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