Southampton, Bermuda -- Nov. 29, 2007 -- Bermuda Premier Dr. the Honorable Ewart F. Brown, JP, MP, joined with Scout Real Estate Capital today to launch the development of Bermuda’s first new luxury hotel in decades. Premier Brown participated in a ceremony initiating the demolition of the existing Wyndham Beach Resort in Southampton. A new five-star hotel is planned for the 32-acre oceanfront site and is expected to open in 2010.
“We are honored to have Premier Brown take the first steps in the redevelopment of this exciting project,” said Alan Worden, CEO of Scout Real Estate Capital. “It is a sign of his commitment to help Bermuda realize its potential as a top tourist destination. The new Southampton Beach Resort will capture the essence of Bermuda, and allow visitors to fully experience this magnificent island.”
The new Southampton Beach Resort will be the first hotel of its size and kind built in Bermuda in decades. The new property will feature a 150-room hotel, a luxury spa and fitness center, several pools and restaurants. The property will also include a wide variety of retail and shopping venues.
Scout acquired the property in 2006 with financial backing from Lehman Brothers. Demolition is expected to take nine to 12 months with construction starting immediately afterwards. Ultimately the project will generate hundreds of full- and part-time jobs in design, engineering, construction and operations.
The new resort will be one of the most environmentally advanced hotels of its kind. Scout will be employing state-of-the-art sustainability best practices and materials in the construction and operation of the property. As a result, the hotel is expected to consume less energy and water per square foot than any other hotel on the island.
“As a leisure-oriented development company, Scout provides extraordinary service and authentic experiences in spectacular locations,” said Worden. “We are totally committed to great design at every level, in our properties, our programs and the experiences we provide. As we build this new resort property, we will be focused on bringing the Bermuda design vernacular to life.” Preliminary designs are expected to be submitted for planning approval in early 2008.
“This new project is a prime example of the Premier’s commitment to maximizing Bermuda’s potential as a tourist destination,” said Harper Sibley, Managing Director of the Southampton Beach Resort. “In addition to its incredible setting, the advanced environmentally-friendly designs, systems and materials used in constructing this hotel will make it one of the most notable destinations in this hemisphere.”
“We’ve pulled together a talented team of creative architects, designers, engineers and other environmental consultants to execute this project,” said Sibley. “We are very pleased to have the acclaimed international design firm Hart | Howerton leading the project team. We’ll be moving forward as quickly as possible to bring this very special place to life.”
Bermuda members of the project team include:
“We are excited to be creating the new Southampton Beach Resort,” said Worden. “This is such a special place, and such a unique piece of property. We have a once-in-a-generation opportunity to do something incredible in Bermuda. Our goal is to exceed everyone’s expectations.”
About Scout Real Estate Capital, LLC
Scout Real Estate Capital, LLC, with offices on Nantucket and in New York City, focuses its investment in resort opportunities worldwide. Scout caters to affluent, sophisticated, leisure-focused travelers. Nantucket real estate entrepreneur Alan Worden leads Scout.
The company’s current properties and investments include The Harbor View Hotel & Resort and The Kelley House on Martha’s Vineyard, The Southampton Beach Resort in Bermuda and various properties totaling 6,000 acres located on the Big Island in Hawaii.
ContactsScout Real Estate Capital
April Nichols/Martin
Elder, 212-620-7100