Prestigious hotel chain Four Seasons has been lined up to manage the new hotel on the site of the old Club Med Hotel in St. George?s.

The chain, which owns and manages some of the most upscale hotels in the world, will manage the property if the St. George?s Consortium reaches agreement with Government to take over the property. understands that consortium head Wanda Dorosz made the announcement at the annual general meeting of the St. George?s Chamber of Commerce yesterday. And she also told Chamber members that she hopes to have the deal with Government finalised in the next two weeks.

Ms Dorosz was reportedly reluctant to say who would be managing the property, but then revealed the name, saying it was fairly common knowledge anyway.

The consortium is planning to develop the old Club Med site into a five-star hotel and condominium complex, and a local company has been incorporated to do so. Demolition of the old Club Med at the site could begin by this autumn.

Last month Ms Dorosz told that financing for the project was also in place and the company was ?very advanced? in outstanding matters with Government over the project.

Projected outlay for the project stood at around $210 million at the start of 2005. The number of hotel units will be greater than the number of housing units, she said ? originally there were to be 90 of each ? and the development will necessitate the demolition of the old hotel on the site. The development will be completed in Bermuda-style architecture and the existing underground theatre will be refurbished along with Fort Victoria. Those venues will then be used for cultural activities.