Above: a St Regis hotel

By the Caribbean Journal staff

Could Bermuda soon be home to a St Regis hotel?

According to Bermuda Tourism Minister Shawn Crockwell, a five-star St Regis property could be coming to the island’s St George’s Tourism Development Site.

Bermuda’s government is moving forward with Desarrollos Hotelco Group, the developer selected to build and operate a resort on the 125-acre property.

Crockwell said the government had reached an agreement “on critical path items with Desarrollos,” including that the company had “completed its due diligence and confirmed the international luxury resort developer will construct a five-star hotel managed by St Regis, Starwood Hotels and Resorts’ top luxury brand.”

Crockwell said the news was a “significant vote of confidence” in the island.

“This luxury resort development will be a tremendous positive impact to our island and we are moving quickly toward finalizing the customary agreements.”

The Minister told Parliament that the development budget was estimated at $120 million, with construction aimed to begin in mid-2015.

Construction is estimated to take around 16 months.

Desarrollos is also involved with a planned hotel project in the Turks and Caicos Islands.