Video: Town Hall On Fairmont Southampton
Premier David Burt, Minister of Tourism Vance Campbell and BIU President Chris Furbert will be holding a town hall meeting this evening [May 12] about the Fairmont Southampton Hotel Act, and it is set to begin at 6.00pm and we will carry the live stream below.
The hotel has been closed for some time, and in March Westend said they have “obtained third-party institutional debt and equity investors for the Fairmont Southampton in excess of $300 million,” and noted that the “target is to commence the re-development this summer with a plan for a grand re-opening in 2023.”
The developers also noted that “upon reopening, the hotel will create over 800 direct employment opportunities and many more jobs for local restaurants, taxicabs, and other related businesses.”
The House of Assembly recently passed the Fairmont Southampton Hotel Act which grants a number of customs duty and tax concessions and it can be read in full here. In most cases, the concessions last for 15 years, a timeframe which has received some criticism.
In announcing tonight’s town hall, Premier David Burt said, “The redevelopment of the Fairmont Southampton is critical to Bermuda’s tourism industry. As indicated by Minister Campbell in the House of Assembly, the passage of the Fairmont Southampton Hotel Act 2022 was an important step in our island’s tourism and economic recovery. Thursday’s town hall is an opportunity for the public to ask questions and gather more information about the benefits of this project, which will create jobs, help to increase airlift, and earn money for the country.”
Update: The live broadcast has ended, and the 88-minute live video replay is below:
Is the Government guarantee ringfenced to ensure it can’t be used to pay for cost overruns? Construction in Bermuda is well known for going above estimates, or even contacted amounts.
Given the nature, scale and value of taxpayer dollars being doled out to these people, were they required to prove they are experienced, qualified, competent, possess integrity, and resources to complete this project? Clearly the developers at Morgan’s Point had no such requirement. Always be suspicious when politicians are so loose with taxpayer money. Whatever happened to that recording studio and the money?
Please forgive the people of a beautiful questioning this. However we all remember the same great for Bermuda contracts that were awarded by the same party in the past. Some of us have not forgotten the proactive Barkley deal, The DLBE building contract, The TCD contract, Port Royal golf course, Dockyard piers, let me hear the emission center. They were all great ideas that were good for me to and what do they cost us in the end. Where are all the The marches now? The minister was saying that towards in Bermuda is not dead and proof of that would be the fact that Fairmont Hamilton, the Loren, St Regis Have old recently completed renovations to their properties. What he failed to tell you was that all of those products were announced and awarded when the OBA was in power not the POP. He also said that further proof that our tourism product was healthy was the fact that the group behind Fairmont SH was investing $350 million + . No they are not The people of Bermuda are putting up the bulk of that money!!!!!!! The PLP are desperate and companies know that….. And why would they not back them into a corner and name their own terms.
All you PLP cheerleaders can continue on. You are in charge, You have nobody to blame but yourselves. You have been in power for the bulk of the last 30 years. During that time somebody please list how many hotels have closed versus how many of open during the PLP era. And please don’t list St Regis Fairmont Hamilton and the Lauren at examples because those contracts were announced during the 4 OBA years.
“PLP have been in power for the bulk of the last 30 years”
Failed math in school?
19 / 30 = PLP
11 / 30 = Not the PLP.
Well FOF and did the UNKNOWN entertainer the unknown entertainer didn’t have to prove nothing.
Were people allowed to ask questions without being threatened with violence, or was this different from previous PLP town hall meetings?