Another major hotel project is coming to the island of Bermuda.

The Ritz-Carlton Reserve will operate under a long-term management agreement with George’s Bay Hotel Ltd. and George’s Bay Residences.

It will be the second Ritz-Carlton Reserve on an island in the region, following the debut of the Ritz-Carlton Reserve Dorado Beach in 2012.

“We have watched Bermuda as a destination closely for many years and believe the timing has never been better to introduce what will be a one of a kind, luxury experience to the island,” said Herve Humler, president and chief operating officer of The Ritz-Carlton.  “We are delighted to work with such an esteemed partner as George’s Bay Hotel Ltd. and we are confident that this resort will offer the most sophisticated travelers an exciting new destination to experience through the eyes of Ritz-Carlton Reserve.”

The hotel will be located on a site with 2.5 miles of shoreline, including an “expansive” peninsula extending into the island’s Great Sound.

“This collaboration resonates with the vision that we have for our development and we are thrilled that this stunning setting lends itself to the Reserve promise of sophistication, seclusion and engaging experiences,”said Craig Christensen, president and chief operating officer of Morgan’s Point Ltd, the holding company for George’s Bay. “This announcement, combined with the confidence of The Ritz-Carlton in our beautiful island is meaningful to all Bermudians, as it helps to elevate the allure of the destination and enhance the future of tourism.”