[Updated] “The Bermuda Government and Desarrollos Hotel Group have finalized the hotel ground lease that paves the way for the ground breaking of the $150 million St. Regis Luxury Development,” Premier Michael Dunkley announced today
Speaking at a press conference, the Premier said, “On October 20th last year, we announced that the Bermuda Government and the Desarrollos Hotelco Group had finalized the Master Development Agreement for the St. George’s tourism development site.
“Today is another significant milestone for the St. George’s resort development, as the Government of Bermuda and Desarrollos Hotel Group have finalized the hotel ground lease that paves the way for ground breaking of a $150 million St. Regis luxury development.
“It is very clear that this project will generate jobs in both construction, and when the resort is operational in a few years time.
“The development plans for the 124 acre site include a 122 room St. Regis Hotel, a spa, a renovated St. George’s golf course, residential condominium buildings and a casino.”
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