Minister, Shadow On Purchase Of Newstead
Both Minister of Tourism & Transport Shawn Crockwell and Shadow Tourism Minister Zane Desilva have commented on the news that Larry Doyle has purchased Newstead and Belmont Hills.
Minister Crockwell said, “This is great news. These are two great properties and will be significant as we continue to revitalize Bermuda tourism.”
The Minister said he applauded Mr. Doyle’s plans to upgrade both the golf course and the hotel and to aggressively market the fractional units that are there, and also acknowledged his appreciation to Mr. Kevin Petty, the former owner of these properties.
“I would like to extend my appreciation to Mr. Kevin Petty who did a great job redeveloping the Newstead and Belmont into the premier properties that they are today,” said Minister Crockwell, “These properties enhanced Bermuda’s tourism product and I am sure that parting with them is difficult for him.”
In a separate statement, Shadow Tourism Minister Zane Desilva said, “The announcement of new ownership at Newstead and Belmont Hills Golf Course along with planned upgrades are good news for Bermuda and good news for Bermudians.
“The proposed upgrades should translate into work for Bermudian construction companies and Bermudian construction workers and that is sure to give a bit of hope to that industry.
“Our tourism product is in need of a lot of work to gain and maintain pace with our competition. Ownership that is committed to investing in their product, adding to our stock of tourist beds and modernizing their properties represents the way forward for Bermuda and we look forward to the opportunities that should open up for Bermudians shortly.”
The Harbour Road property had been placed under receivership in 2011.
Read More About
Category: All, Business, News, Politics
Wonderful
I bet Kevin Petty sleeps well tonight .
Coffee, why do you continuesly spout off with nonsense??? Kevin Petty, from what I have read invested around $70 million during the PLP time in power in this hotel!!! After all was said and done, the Plp were finally ejected from the purse strings but not before this property has now finally been sold for in the region of $18 million!!! Why on earth would he be sleeping well tonight??? With the figures I just quoted to you, how on earth can you ever with a straight face defend your Plps track record?????
I think you really like him
never been there but that is one exquisite picture…so i guess it wasn’t pulling in the cheese huh?…hmmm…hopefully the new owner is ready to pump his fists and go for it…best o luck to you Mr. Doyle.
you know what..? Bda. needs some CRAZY A** MONEY people to come here…the ones where money is NOT an OPTION…the ones that fly somewhere different every day and pay for a $100,000 breakfast…or does that happen here ..?the Green family is the closest thing i’ve seen…this family has dropped some MAJOR paper in this island the question is , will YOU allow them..? because there’s ONLY an investment if there is a RETURN.
Zane, you have a nerve.
Tourism is in a mess, but your party presided over most of the scandals, back handlers and poor governance.
The PLP did this, like so much of our ills.
While this may appear to be good news for Bermuda it is a very sad day for Kevin. He has been the Only person to take any sort of risk here on the Island to provide both Tourism and international business with a product that is fit for our modern times. There is no one here in Bermuda that can compare themselves to Kevin, he is in a class of his own. He has the vision to take Bermuda forward and has the expertise and knowledge that is required in these financial times to make things happen. Its very sad and unfortunate that NOT ONE Bermudian came to Kevins Aid when the receivers came knocking. There are a lot of local Bermudians who could have assisted but they all fell down. You can be well assured that this receivership situation would have never happened if our banks were locally owned. Do you honestly think they would have lent him the money if his business plan did not add up?
My hat is off to you Kevin, this is not a set back, its a set up and I am sure you will bounce back stronger than you ever have been. I will support you any way I can.
Who is Larry Doyle?
The guy who bought Lantanna four years or so ago and did nothing with it so far.
http://www.zoominfo.com/p/Lawrence-Doyle/4956143
Not quite sure how you make money owning these properties.
Mr Petty couldn’t. The condo leases are all sold except for a few
Bad lots left at The golf course. The restaurant is not owned by the hotel so you can’t make money there.
Everyone knows that golf courses don’t make money.
I wish him well.
I’m so happy for two reasons. 1st. for the opportunity which has been placed before us all…And 2nd. Shadow Minister Zane DeSilva was in agreement with the O.B.A.!
I do, honestly thank you Shadow Minister Zane DeSilva for speaking the truth…Not one word contradicted Minister Shawn Crockwell said. It was / is absolutely amazing bie’!
Doesn’t Zane own a construction company?
Typo: …had said
And to Zane Desilva,
We have about 10,000 work permits.
where are the 10,000 Bermudians to fill these positions???????
Thanks to Zane de Silva for a positive comment supporting this and not degenerating into “PLP speak”. This is what we should all be doing – regardless of our political views, be positive and welcoming to those investing in our island.