Park Hyatt moving ahead, developer claims

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Developers behind a proposed luxury resort in St George’s today insisted they remained committed to the project despite calls that Government should end the contract.

BEST chairman Stuart Hayward insisted that the agreement should be terminated because it demanded Carl Bazarian start construction last month on the Park Hyatt property and he had not done so.

The developer insisted today that he was committed to the project and to say otherwise was not true.

"Any suggestion that we are falling short on our responsibility of delivering a luxury hotel to St George's is categorically inaccurate,” he said. “My personal investment in this project, St George's and Bermuda is substantial and I am committed to getting this done.”

He continued: “We even met with Government as recently as last week in New York to discuss accelerating hotel construction, decoupling the hotel and residential financing structures, and adding dedicated hotel rooms without expanding the footprint of the resort. These are all good things for anyone who wants hotel guests to be visiting St George's again.

“I don't know of any project in Bermuda that is even close to being as advanced as this project or any developer who has put as much on the line as I have to get St George's and Bermuda the new luxury hotel it desperately wants and needs.”

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