Park Hyatt Invests $300 Million in Bermuda Resort

Park Hyatt Invests $300 Million in Bermuda Resort

Bermuda will soon welcome the luxury brand group Park Hyatt to its shores with the commitment of a $300 million investment into a new resort development. The Bermuda Department of Tourism has been working to bring the multi-million dollar project to fruition since 2007. Previously, Park Hyatt had agreed to manage the project, which is located on the former Club Med site in the historic town of St. George’s, Bermuda(a UNESCO World Heritage Site).

According to Bermuda’s Premier, Dr. The Hon. Ewart F. Brown, JP, MP, who also serves as Minister of Tourism and Transport, the increased investment by Park Hyatt to become an equity stakeholder serves as a vote of confidence in Bermuda’s tourism business. “As many in the hotel development community can attest, the addition of a management company as an investor is rare,” said Premier Brown. “Park Hyatt’s action is evidence that they believe in Bermuda’s commitment to the continued enhancement of our tourism product. This is the greatest vote of confidence in Bermuda and in St. George’s. The Government of Bermuda is extremely proud to work in partnership with one of the world’s most sought after brands.”

The ground-breaking of the new Park Hyatt Resort and Hotel is slated for November 2011. The construction is anticipated to take 24 to 30 months. The new Park Hyatt Bermuda will include a 100-room hotel as well as 71 hotel condominiums, 39 villa residences and 12 single family homes. Also on the 125-acre site will be an 18-hole Nick Faldo-designed golf course, an 18,000 square-foot spa and fitness center and two tennis courts. Guest will be able to dine at two full-service restaurants, two cafés and a Beach Club. Additionally, the project will provide housing for 160 employees and include an on-site wastewater treatment plant and reverse osmosis water purification facility.