Reports that the two Fairmont hotels in Bermuda may be put up for sale as part of a debt reducing move by Fairmont Raffles Holdings have sparked concern from the Bermuda National Trust.

The Trust has already objected to plans to build 90 golf villas on Fairmont Southampton?s golf course.

?If the news of the new sale is true, it prompts the question ? are the development applications for the golf villas and the other parts of the site just to enhance the value of the property so it can be sold with development potential to an overseas purchaser?? asked National Trust director Steve Conway.

There is uncertainty about the intentions of the global luxury lodgings empire that was created in January this year following the merging of Saudi Prince Alwaleed bin Talal Al-Saud?s Kingdom Hotels International and Colony Capital.

That $3.9 billion deal put the Fairmont chain of hotels into a global empire of 120 hotels in 24 countries.

But a report in London?s The Times newspaper claims Fairmont Raffles Holdings is preparing to sell around 17 of its hotels, including the two Fairmont hotels in Bermuda, while maintaining the management right to run the hotel operation.

In the newspaper report, a Fairmont spokeswoman is said to have confirmed the intention to sell a number of hotels while retaining Fairmont as the ?long-term management? of the properties.

It is estimated that such a sale would seek to raise $2.5 billion.

A company spokesman told this week that Fairmont was aware of the story, which has also been carried by other international media. He did not deny the story, but said: ?We do not comment on rumour and speculation.?

Mr. Conway said he wondered if Bermuda?s open space at the Fairmont Southampton was being ?cashed in to satisfy overseas debt??

The application for the golf villas will reduce the size of the hotel?s golf course.

The National Trust has requested a public enquiry if a Special Development Order is considered for the proposal.

?The Trust is of the opinion that the development of the golf course should be rejected and would set a precedent for development of other golf courses.

?Golf courses now provide some of the larger open spaces and are a valid part of the Island?s bio-diversity,? said Mr. Conway.

?Bermuda cannot afford the luxury of the loss of further open space, especially of this magnitude, regardless of any purported benefit to the hotel?s tourism product.?

He added: ?The Trust hopes that the new purchaser will have the wisdom to withdraw the application to develop 90 golf villas to respect Bermuda?s protected open space.?