Minister: ‘Giant Leap Forward’ For St Regis Hotel

May 15, 2012

Today [May 15] Minister of Business Development and Tourism Wayne Furbert announced the signing of an agreement between the St. Regis Hotel developers and the international financial group responsible for advancing the monies needed for the construction of the new luxury property.

The planned construction of the St. Regis will be on the site of the Par-la-Ville parking lot.

According to Minister Furbert, this agreement signalled the successful conclusion of thorough and comprehensive negotiations by the parties involved. The Minister also noted that it  brings closer the reality of the construction of the new property, and with it the creation of some 600 jobs.

Commenting on the St. Regis signing, Minister Furbert pointed out that while the terms of the agreement “must remain confidential”, this latest development should be hailed as a “giant leap forward”.

Minister Furbert said, “This agreement is another indication of the continuing success of the Government and my Ministry’s efforts to drive new investment in the hospitality sector. As we continue to build our economic recovery, we are doubly pleased that the new hotel will open up the prospect of an estimated 600 new jobs in its construction and subsequent management.”

He continued, “We have long felt the new hotel, incorporating so many modern features that are vital to today’s business community, will usher in a new age of investment in Bermuda’s hospitality sector. It sends a strong message to the international investment community that Bermuda is serious about reaching out to create global partnerships and that we are, in all areas, absolutely open for business.

“I congratulate all those involved in bringing the St. Regis hotel to Bermuda and I am so very pleased to have been able to extend my support and encouragement throughout the long process of negotiations that have led to this agreement being signed.”

The Minister concluded, “Let me be clear, our efforts as a Government are firmly linked in our understanding that all in our community must be the benefactors of the revitalization of our economy. We will not mark full economic recovery until every Bermudian, from our ambitious and hopeful young people to our seasoned industry professionals have realised full employment opportunities.”

Read More About

Category: All, News, Politics

Comments (23)

Trackback URL | Comments RSS Feed

  1. Old Furberts kettle says:

    Looks like election propaganda to me. I will believe it when i see the diggers move it. Until such this is merely PLP rhetoric.

  2. Navin Johnson says:

    Thought we were due for another hotel announcement but thought it was Bazarian’s turn to fly in and say a few words about the Park Hyatt…..this Doubting Thomas will only believe it when I see it…..until then its just the same old same old…..confidentially of course…..

  3. welldone says:

    Well done Minister, PLP Govt, Corp of Hamilton and all the people who played a part in this!

  4. Sandgrownan says:

    We. Don’t. Believe. You.

  5. Kool Aid drinker says:

    Minister Furbert keep working man don’t worry about the Popcorn OBA party. Your damn if you do or damned if you don’t in their eyes.

  6. Mountbatten says:

    Wayne , Leave the Giant Leap speeches to the experts at NASA .

  7. CBA says:

    Kool Aid Drinker, you’re not damned if you do, but that’s the problem…Nothing has been done! We heard this before the last election too. You seen any new hotels? Please, this party can’t bring enough tourists to the island if they wanted to.

  8. Won't be buying it either. says:

    When times were good the Holiday Inn/Leow’s/Club Med all failed. They couldn’t make a go of it and the reason was always the same . ”The tourists want to be on the South Shore beaches”

    Since then how many more South Shore hotels have failed ? How many smaller mom and pop guest houses have gone under ?
    All of them were in nice areas outside of the city. What do we need a city hotel for ? I would guess business travellers. Well guess what … Business is contracting on a weekly basis , who’s going to stay at this hotel in the middle of concrete and asphalt land ?
    If there’s no/less/ shrinking business travellers , why would anyone with half a brain think that tourists who want the South Shore beach experience/holiday are going to be wooed into staying in Hamilton ? ?

    There will be no hotel development while the PLP is in . The investors were all tipped off after the Morgan’s Point fiasco in 1999. They’re not coming back untill there’s a change in Government . Believe it.

    Just more pie in the sky electioneering and promises for the easilly fooled .

  9. 1minute says:

    And before the last election, they were going to build at Club Med and before that was that place in Flatts…
    This one may move as the CoH is behind it…

  10. Grouper says:

    Yup – just more pie in the sky electioneering and promises for the easilly fooled .

  11. Bermywan says:

    Why build a hotel when you have those ugly Grand Atlantic Condos to still fill?

  12. GVT Mechanic says:

    Hamilton Princess is half empty as are all the other hotels in the City – another hotel is just the nail in the coffin for the others.

    And what about the BELCO transformer that needs to be moved – up to two years for that they said. Yep, electioneering!

  13. Familiar says:

    I have mixed feelings about this.

    I don’t, personally, think it’s a good location for a hotel. I see it as just another loss for the City of Hamilton.

    That aside, if we had a large, thriving, or growing IB sector, then I would be behind this project as it would be something that would benefit Bermuda.

    But our IB sector isn’t large, it’s not thriving, and it’s not growing. If anything it continues to decline, so there hardly seems to be a need for this sort of thing.

    Yes, it’ll bring jobs in the short term, and for a small sector of Bermudian workers this will be a good thing, but in the long term, I can only see it as yet one more white elephant on the island.

  14. Just the Facts says:

    “Commenting on the St. Regis signing, Minister Furbert pointed out that while the terms of the agreement “must remain confidential”, this latest development should be hailed as a “giant leap forward”.”

    A giant leap forward? Really? This story says absolutely nothing because we don’t know what kind of agreement it is, what the terms are, etc. Sounds like nothing more than intent. You can bet that if it were any more than that, the singing minister would have broken into song. Furbert, show us the money, show us the diggers, and then we’ll believe.

  15. Mr Minister – your doing a lot of talking. I ain’t seen no bulldozer starting up yet. Were tired of all talk and rhetoric. Show me a hole being dugged please. Stop the nonsense.

  16. soon_gone says:

    Confidential terms are plain and simple…”we will build if approvals are there for a casino”.That’s the only way this business plan will fly.

    • Mr Cranky says:

      Or, the confidential terms are: The Bermuda taxpayers will fund a portion of the cost, and any overspend.

      He wouldn’t want that getting out.

  17. allcloggedup says:

    okay forgive me for being a cynic …. we’ve got 1 hotel project of the ground….1 project out of 5 announced over the last few years….I’ve got a bad taste in my mouth thanks to big announcements with no follow thru…..I’ve gotta see much much much more before January election. Maybe some big Arab development money or off-shore captives would do the trick. Make it happen and I may change my vote.

  18. More with less says:

    Sure it is, sure it is…

  19. Argosy says:

    You’re better at singing, Furbs. And you are not very good at that!

    Assaults on both our ears and our intelligence…….

    Guess the blinkered sheep will believe you?

  20. Liars! says:


    The Brown/Cox Building!

    Alaska Hall!

    your all dreaming!

  21. Honestly says:

    What about the old Sonesta site? Any word of work taking place there?

    • Rard says:

      I stay across the street…the For Sale sign is still there this morning!