By Alex O’Reilly - The Bermuda Sun
(News from 2000-04-26 Edition)
DEVELOPERS are hoping to lure the prestigious Four Seasons group to the island to manage a new hotel planned for
the city of Hamilton.
Glynn Shouldice — president and CEO of TG International Investments, which has developed the DeVille Hotel project
— told the Bermuda Sun yesterday that he will meet with Four Seasons representatives in May to further discuss
a deal.
This news comes on the heels of Tourism Minister David Allen’s confirmation that Government had also struck a deal
with Mr. Shouldice, providing a number of hotel tax concessions.
With the chips falling into place, Mr. Shouldice is confident they will break ground this summer. And he is now
looking to a projected opening of mid-2002. Admitting that he is now a year behind original targets, he said there
were a number of “unforeseen difficulties” along the way.
The hotel, to be geared primarily towards the business visitor, will be built on the present Par-la-Ville car park
site and feature luxury hotel rooms as well as penthouse condominiums for purchase.
Mr. Shouldice said representatives from the Four Seasons group have visited Bermuda a number of times and are familiar
with the concept behind the DeVille and the progress made so far.
“They are our brand of choice,” said Mr. Shouldice, adding that there are also other management options available.
“They [the Four Seasons] are very interested in establishing a hotel on the island. They are five-star hotel providers
and have a strong international presence.”
Mr. Shouldice is now waiting to finalize some details with Government before he can proceed. “I am still waiting
to hear back but I am confident that Government will understand how significant they are to us.”
While Mr. Allen would not go into the fine details of their arrangements yet, he said it was similar to the agreement
over the Castle Harbour property. And it is understood to contain certain provisions for duty free allowances on
wines and spirits in exchange for signing up Bermudian entertainers, as well as land tax, payroll and other import
duty concessions.
“We have agreed to a broad package of incentives largely in line with the Castle Harbour,” said Mr. Allen. “While
some of this already exists [under current legislation] it will require some new legislation.”
Financing for the $70-million project has been guaranteed by the Union Bank of Switzerland. And Mr. Shouldice —
who until this point has been careful not to give lead to any false hopes — commented that the transfer should
be made within the next four to five weeks.
“Funding will come in the form of an irrevocable bank pay order which means the funds cannot be stopped,” he explained.
“This ensures that the project will be completed and from our point of view economically viable.”
Further steps include presenting a final package to the Corporation of Hamilton and drafting a lease. Additionally,
the DeVille still requires some planning details to be ironed out as well as bringing a contractor on board.
“I have always felt that this is an extremely important part of Bermuda’s future. It [the DeVille] is a strong
statement that Bermudians have conceived, designed, financed and will build this significant piece of international
business infrastructure and a strong tourism marketing tool.”
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