Minister Furbert: I ‘Misspoke’ About Park Hyatt

September 28, 2012

[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 Wayne 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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Comments (66)

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  1. Captain Longtail says:

    The Park Hyatt project has been terminated…

    Carl Bazarian got kicked to the curb as well….

    What a terrific waste of time and taxpayer’s money.

    Why blow Club Med up in the first place?

    Typical PLP. Lots of big talk and boasting… A loud explosion… Lots of smoke and dust… and when it comes back to reality all you’ve got is just a pile of rubble and rubbish… Sounds like Ewart Brown’s secret plan for the rest of Bermuda too!

    Must be an election coming soon… I wonder how the PLP will try and spin this blatant screw-up?

    • Triangle Drifter says:

      That about sums the PLP MO pretty good. Bottom line is a huge failure. Going noplace fast.

  2. Vulpes says:

    I imagine former Premier Dr. Brown must find this very distressing – we all know how much he has invested in bringing this scheme to fruitition, what a blow in every way. And what a terrible loss for Island construction.

    • Captain Longtail says:

      Distressing? Are you for real?

      That’s what Ewart wanted all along. Lots of bang, whoosh and shamboolah and then when the dust had settled… he was nowhere to be seen!

      It ALMOST (but not really) makes me sorry for the PLP which is having to pick up his tab for the destruction of our island.

      • Vulpes says:

        Distressing because of all the unrealised capital gains that the scheme was meant to generate…

  3. Kathy says:

    This is a grave loss to Bermuda, hundreds of potential jobs for Bermudians, and it’s tourism future! Investors like this don’t come along every day! This is just on more reason we should give another party a chance to redeem ourselves. This government and the construction workers involved blew it!

    • Eastern says:

      @Kathy: I’m afraid you are wrong. This is great news. St. George’s needs a golf course. This helps St. George’s Club and all the small guest houses and tourism apartments in St. George. We need St. George’s based tourists and now we can look elsewhere for developers of the property. We don’t need a Tucker’s Point type developement in St. George, we need a small hotel, not condos, town houses and Tucker’s Point type developements that Bazarian had proposed.

      Large hotels will never make it in Bermuda due to labour costs and the general cost of doing business in Bermuda. In other words; the smaller the property the greater potential for profit. This fact is proven by the many small tourist apartments that have recently been opened in St. George, many of them very successful I have been told.

      Either government or private investors need to come forward and get the golf course opened, for the sake of St. George. This was always a draw for St. George, especially in the winter months. I’m sure St. George’s Club (whose guests spend a considerable amount of money in the town) will eventually fail without that golf course being open and that would be a catastrophy for St. George.

      It should never have been closed. Ewart claimed that it was loosing money but I have been told that that is simply not true. I challenge anyone to prove different.

      • US Hotelier says:

        Eastern: I am afraid you are wrong. This is the problem when guests pretend to be hotel owners. People who are hotel guests don’t understand that small hotels (less than 100 rooms or so) lose money because there are no efficiencies. They are great to stay at for the guest, but financial sustainability is a different issue, especially for luxury hotel. Add on top of that the inefficiency in Bermuda being a 6-month-a-year market at best and it becomes a big challenge. Go ask any hotel operator or owner in Bermuda or elsewhere. The 60-room hotel proposed for St. George’s sound nice and quaint but will only lose money. And a small hotel at the Club Med site will only lose money.

        This project is a victim of the “guy down the street” mentality. “Hey, I know a guy down the street who could do this deal tomorrow.” As Kathy points out, it is not every day that someone comes along willing to make this kind of commitment to the island. So be very wary of the assumption that someone else is salivating at the mouth to get a hold of this deal. That is a tough assumption to make, especially at a time when people are having difficulty getting deals done in much stronger hotel markets.

        • Eastern says:

          @ US Hotelier: For your information I have been in the hospitality business here in Bermuda since 1977 and although I have moved into another career, I still own and manage a small and very successful guest house. So maybe you need to stick to your side of the “pond” and I’ll stick to mine.

          • Clive Spate says:

            “Stick to your side of the pond”

            Tourists seem to be doing that so no need to remind them.

      • pepper says:

        I hope and pray that Ewart is back in the U.S.A.he has no use for Bermuda…..put him on the stop list from ever entering Bermuda…..why did Freddy Wade ever ask him to come back here ?

  4. Paget boy says:

    This is no surprise at all. The implosion and removal of the golf club building was all about Ewart Brown and his ‘friends’ making money from the contracts to destroy structures and remove the debris. It also helped Dr, Brown in his greater plan to destroy what was left of the St.Georges economy, by leaving the area with one less attraction, that being a golf course.

    People Island wide said this is what would happen – no hotel would be built – but the PLP stronghold denied it at every opportunity. Well Well Well…Do you believe what we were saying now?
    Remember this and all the other failures and deceptions when you go inside the voting booth to cast your ballot, remember the ruined economy as well that sits with Dr. Brown and his well connected friends, all of whom are much better off financially now than they were some 15 years ago. All the while the Island has come to its financial and economic knees at the hands of these people…and don’t pretend for a second you don’t know who I am referring about when I say ‘friends of Dr. Brown’.

    Ray Charles could see what was and is happening in Bermuda today. To bad we can’t ask him though, I miss Ray…

    • pepper says:

      Paget boy, why do we let so few destroy our wealth ? Paula and Ewart, have got away with the economy of this Island in the state that it is now !!!!!!! Bermudians are stupid people… we let them #$%^ us over and over again WHY ? what the hell is wrong with us ?Brown made a statement a few years ago that Bermudians were very placid people… and when ever there was an issue that caused a lot of talk or concern he said ” this to will pass” and he so right..Bermudians why do so few rule us? and we just sit back and do nothing >

  5. Randal says:

    Poor Ewart Brown, everything and everybody he has ever come near sure enough sooner or later implodes – but of course never his fault…

    • street wise says:

      “I will bring this Country to its knees.”

      • wizeazz says:

        Dr.B got a par 4 on number 2 at Tucker’s today.The price of his shirt and pants would have bought 40 Meals on Wheels.

        • Vulpes says:

          If that’s what makes him a happy, well adjusted man and not an angry one. It shows in his face and words what a happy, well adjusted, all round normal kind of guy he is…

  6. UK says:

    That Island is goin nowere fast! The PLP is gona win the next election, only because most of you Bermudians are blind and have short memories.

    • observer says:

      It is amazing that your in the UK and can see what will happen. I agree, I will not be voting PLP this time but majority of my friends are head strong about black power, even if they are in debt and the island becomes a third world country. I have asked them what has the PLP done to improve their lives and they admit things have only gotten worse, but they still are voting PLP. So your right, the PLP will win and no one will invest in Bermuda, companies will slowly leave, our debt will continue growing, our dollar will devalue, the government will put an embargo on our money with a high percentage if you wish to take money out of the country and King Zane will be our next Premier, which will be a surprise to many of their blind supporters, that are the ones that will be suffering the most by their own decisions.

      • Come Correct says:

        Sounds like we have some pretty dumb friends. Have we not realized yet that destroying the economy sort of defeats the purpose of black power? You can’t really gloat about being the king of the trash heap that used to be an oasis. Have you asked your friends to do a little research on Zimbabwe?

        “One thing we learn from history, is that we don’t learn from history.”

      • Sorrry says:

        Thats whats killing that island, Blacks voting for the PLP just because its a black party. And lets set the record stright. I am black.

    • meow! says:

      @ UK–are you on the dole?

  7. Victor says:

    Bazarian and Ewart are two of a kind and I’m sure anybody with half a brain gets my meaning.

    The fact of the matter is that there were two viable and funded projects for this property on the table in the years before Ewart came on the scene. The one from the Malaysian hotel chain floundered because Government messed them around over use of the beach (the investor wanted exclusive use) but it appeared that this had been resolved until Ewart turned up and cancelled the whole thing. Sea Land Construction had in fact been hired for this project (remember them, built original Washington Mall, Watford Bridge, WestGate (nearly broke them), Mizzentop, etc) and were ready to go – that is until Ewart met Bazarian.

    One thing for sure, St. Georges has been badly betrayed by the PLP. No cruise ship, no golf course, no hotel, in fact nothing. Thank You Ewart Brown.

    • pepper says:

      Victor, you ares so right, we were there last week there is nothing there the town is dead !!! the shops that are open leave a lot to be desired.

  8. M.P.Mountbatten JP says:

    Pay for play is played out . Now it’s time for a REAL PLAYER/GAMECHANGER , to come on board and get something going .(Hope that seat in the pavilion is starting to get really uncomfortable ).

  9. Mad Dawg says:

    A story of failure from beginning to end. We’re led by a bunch of amateurs.

  10. Bags are packed Ready to fly says:

    5th generation Bermudian and pissed, sorry to say but the end is in sight. Feel sorry for those that are stuck here……

    • My bags are packed too says:

      the only people who will be stuck here are the Uighurs. All Bermudians have the right to a British passport.

  11. navin johnson says:

    was it ever going to be built? or another scheme gone wrong?

  12. sooooooo says:

    About time the government grew a pair… Carl was doing nothing but holding on to the property waiting… Waiting to see if tourism Will pick up… The ground breaking was never on th herizon

    • Vulpes says:

      Actually, the plan was to flip the property/lease at the right moment but the Gang misjudged and there never was a right moment. This was always a speculative pay with no intention of ever breaking ground.

  13. Liz says:

    This Island is in reverse!!! More money up in smoke! When are people going to wake up and smell the coffee?????

  14. Concerned says:

    EB is grinning big and look out tonight and tomorrow night – check for a second moon – FOOL BERMUDA MOON compliments of EBrown!!

  15. Verbal Kint says:

    Mr. Swan starts to ask serious questions about the nature of the agreement, and it suddenly gets terminated. That doesn’t smell right. Typical of this Gov’t. I still want to know the terms of the lease. The people deserve to know.

  16. Petra says:

    flip flop flip flop! Didn’t Mr Bazarian say the other day he had had talks a week ago with Government and things were going ahead? Who took the decision to terminate? Was Mr Bazarian told?

  17. Sorrry says:

    The only thing thats gona happen in Bermuda is less jobs and more shootings! Country has gone to the dogs. lmao. And you people still think Bermuda is the best place on the planet.

  18. swing voter says:

    the lease had a foul fishy smell that was filling the nostrils of Swan. Good work Charlie, you forced wayne to terminate the lease, now go join the OBA and get re elected, and then I’ll vote for you

  19. Zombie Apocalypse says:

    So even Wayne Furbert, the Minister in charge of this mess, doesn’t actually seem to know whether the agreement has been ‘terminated’ or not.

    And Bazarian is coming for a meeting?

    Here’s an idea. Get a secretary to call his secretary and tell him there is going to be no meeting, because there is no reason for a meeting. So don’t bother coming here. Tell him he’s done. Finished.

    • Soooo says:

      Exactly….. of course Mr Bazarian will want his (clears throat) back…. And whoever got it wo’t like it…

      • Mad Dawg says:

        Well then he should approach the unnamed person for his (ahem, cough) back. Which would entail a trip somewhere other than Bermuda, of course.

  20. Kim Smith says:

    I cannot believe this total nonsense! This Minister needs to be terminated… NOW… and we, the people, need a full explanation as to what this so-called nonsense is REALLY all about!

  21. Bermudian says:

    Change, change, change…make sure you tick the right box peeps. The future generations need us to make a stand now!

  22. US Observer in Pink Sand says:

    I will come home to vote if necessary and will convince others that are living abroad to do the same. I’m sure many of us would like to return one day to retire or give back…or maybe not.

  23. swing voter says:

    messy, sloppy, and clueless…..why do we pay these ‘ministers’ so much money? The worst bunch of over-paid under-performing executives in the entire world.

  24. Chad Stevens says:

    The next projected project which will hit the bricks also is morgans point. And then what. Crisis.

    • US Observer in Pink Sand says:

      @Chad – MP is such a great opportunity for Bermuda. Shame.

  25. Victor says:

    No honour amongst *them* – Furbert withdrew his comment because of some menacing voice in the background who still runs things read out the riot act to him.

  26. Family Man says:

    Sounds like Carl was a bit shocked to hear Wayne had terminated the contract so he must have called his Doctor.

    Now Carl’s coming down for a house call.

  27. st.geo says:

    we need to march bermuda. lets get together and kick plp to the curb.

    • Triangle Drifter says:

      If you are going to march, an excellent idea BTW, you had better look like Laverne. Otherwise you will be labeled a racist linch mob.

      • Come Correct says:

        Ok so lets avoid that and just pull a BIU tactic…stop working, shut the island down. After that there’s only two options and one gets ugly. We either get what we want or we take what we want. Now the only problem is this “we” thing. United we stand, divided we fall. As Bermudians we are divided, that’s the way government wants us. Operation save Bermuda onions…FAIL!

        “People shouldn’t be afraid of their governments, governments should be afraid of their people.”

        After everything that has gone on in the last 14/15 years, I’d say we’re a bunch of p****’s. Unethical but not illegal behavior from all sides of politics here, we need change bad, I’d like to think the oba has our best interests at heart but if I get the same thing with a different label I’m going to be one pissed off onion.

  28. CURIOUS says:

    what happened to all at that copper and lead?

  29. Argosy says:

    …..from November 1998 to here is not such a long way!

  30. Vulpes says:

    Where’s Mrs Furbert today? She is sorely needed here to help explain what is really happening.

  31. Solidarity says:

    The corp of Hamilton ritz Carlton will be the same. The deal attracts a type developer that turns a blind eye to taking land from the people. And turns a blind eye to political moneovering to make it happen. A type of developer/business person that does not have long term commitment to Bermuda. – do any elected officials have more than one generation of roots/commitment in Bermuda?

  32. Big says:

    Boy don’t make me roar ! This gets funnier by the day

  33. Randal says:

    Bernews, perhaps you could ask Ms. Leung if Hyatt’s deal with Bazarian still stands?

    Karrie Leung
    Public Relations Manager
    Hyatt Hotels & Resorts
    +1 312 780 5701


    Global Hyatt Corporation and Bazarian International Financial Associates, Llc, Announce 2012 Opening of Park Hyatt Bermuda
    Global Hyatt Corporation and Addax Holdings Ltd., a Bermudian development company owned by members of Bazarian International Financial Associates, LLC, announced today the signing of a management agreement for Park Hyatt Bermuda.The luxury 30-acre seafront resort will be located on Bermuda’s exclusive northeast coast in the UNESCO World Heritage town of St. George’s.

    Slated to open in 2012, Park Hyatt Bermuda will offer an intimate 100-room hotel, 111 Park Hyatt Residences, and approximately 30 branded Hyatt fractional ownership units, all featuring the contemporary architectural design and modern residential interiors for which the Park Hyatt brand is recognized around the world.

    The Park Hyatt resort will also include four unique food and beverage venues, including a Tea Room, a 14,000 square-foot Hyatt Pure spa and fitness center, a private beach club, two swimming pools, tennis courts, and nearly 4,000 square feet of meeting and function space.

    Adjacent to the future Park Hyatt Bermuda and an amenity for resort guests, the St. George’s Golf Club will undergo a major redesign to become a superior 18-hole Nick Faldo designed resort golf course.

    With convenient access to L.F. Wade Bermuda International Airport, Park Hyatt Bermuda will be an exclusive hilltop retreat overlooking St. Catherine’s Beach offering its guests close proximity to the rich historical legacy of the town of St. George’s, a UNESCO World Heritage site. St. George’s was the first permanent settlement on the island of Bermuda and is the oldest continuously inhabited English settlement in the New World. Today, St. George’s 17th, 18th and 19th century buildings function not only as museums but also as homes, restaurants, pubs and shops.

    In addition to its signed agreement with Global Hyatt, Addax Holdings has executed a master development agreement and long-term lease with the Government of Bermuda for the 30-acre hotel site with two historic forts – Fort Victoria and Fort Albert. The 19th century structures will be preserved and incorporated into the resort.

    “We are proud to be associated with Bazarian International Financial Associates, LLC, and its company Addax Holdings Ltd., and we look forward to bringing a new level of luxury and elegance to tourism in Bermuda,” said Rakesh Sarna, chief operating officer, international operations for Global Hyatt Corporation.

    Signing the agreement on behalf of Bazarian International Financial Associates, LLC, Carl J. Bazarian said, “We are extremely happy to partner with Hyatt Hotels & Resorts, an internationally-known hospitality leader. Hyatt’s excellent reputation, expertise and resources will be critical in managing the resort and the Park Hyatt property is a vital addition to our organization’s hospitality and hotel portfolio.”

    “The northeast corner of Bermuda is a scenic and historic gem, and the introduction of the Park Hyatt brand will make our gem sparkle like never before,” said Premier Dr. the Hon. Ewart F. Brown, Minister of Tourism and Transport. “We expect this exciting new partnership with Global Hyatt and Bazarian International will be a catalyst for renewed confidence in Bermuda Tourism around the world.”

    About Park Hyatt

    Intimate and residential in style, Park Hyatt promise elegant and gracious service on a personal scale, and are further distinguished by prime locations and exceptional interior design. Hyatt Hotels & Resorts and its subsidiaries operate 24 Park Hyatt brand hotels with an additional 10 hotels under development. Current locations include; Baku, Beaver Creek, Beijing, Buenos Aires, Canberra, Chicago, Dubai, Goa, Hamburg, Istanbul, Melbourne, Mendoza, Milan, Moscow, Paris, Philadelphia, Saigon, Seoul, Shanghai, Sydney, Tokyo, Toronto, Washington DC, and Zurich.

    About Global Hyatt Corporation

    Global Hyatt Corporation, headquartered in Chicago, is one of the world’s premier hotel companies. The hotels owned, operated, managed or franchised by its subsidiaries provide authentic hospitality to guests in 45 countries through a passionate commitment to personalized service, cultural relevance, and the environment. Global Hyatt subsidiaries own, operate, manage or franchise more than 365 hotels and resorts worldwide under the Hyatt®, Hyatt Regency®, Hyatt Resorts™, Grand Hyatt®, Park Hyatt®, Hyatt Place®, Hyatt Summerfield Suites® and Andaz™ brands with additional properties under development on five continents. Global Hyatt Corporation is also the owner of Hyatt Vacation Ownership, Inc., operator of Hyatt Vacation Club®. The success of Global Hyatt is driven by the commitment and energy of the thousands of men and women around the world who provide exceptional service to hotel guests. From the U.S. and Canada, reservations for any Hyatt hotel worldwide may be obtained by calling 1-800-233-1234 or visiting

    About Bazarian International Financial Associates, LLC

    BIFA is a hotel investment banking and strategic advisory firm headquartered in Washington, DC.

  34. Watching says:

    Here is issue that’s I see. Minister Furbert is a know it all! Problem is, he knows nothing about everything!!

    He never speaks from a thought out prepared statement and try’s to wing it every time AND every time he screws up with misinformation. He is an embarrassment and should be removed. I do give him credit for his energy that he brings but seriously!