A major new hotel project is coming to Bermuda.
A St Regis hotel property is slated to break ground this year, according to Finance Minister ET Richards.
The five-star hotel project in St George’s was first announced in 2014, following the selection of Desarrollos Hotelco Group, a move that was finalized in the late fall of 2015.
At the time, the budget for the project was projected at around $120 million, with construction pegged at about 16 months.
The hotel would be the second St Regis in the wider region, along with the existing St Regis Bahia Beach in Puerto Rico.
Starwood is planning another St Regis in the Caribbean, the St Regis Kanai, slated to open in the Riviera Maya in Jan. 2018.
The project could create “hundreds of construction jobs,” Richards said in his budget address.