Tucker's Point Hotel will soon be under new management as Texas-based Rosewood Hotels will take over the resort's operations.

Premier Ewart Brown said that Tucker's Point recently entered into a letter of intent with the international hotel group.

Rosewood is to provide oversight, management and marketing services; it is not anticipated that day-to-day operations will change.

Rosewood president and CEO John Scott said: "We are delighted to add Tucker's Point to the Rosewood collection.

"Rosewood Tucker's Point will be joining a very prestigious group of Rosewood properties, including The Carlyle in New York."

Ed Trippe, president of Tucker's Point, said: "The timing is right. Tucker's Point has evolved into a highly complex operation.

"It is both timely and appropriate that we bring in a world-recognised operating company."

Dr. Brown praised the development as he made the announcement at a press conference on third quarter tourism statistics.

"Tucker's Point has been a vital addition to Bermuda's tourism economy and has raised the bar for hospitality facilities and services here," the Premier said.

"The decision to retain Rosewood to manage the hotel will ensure its continued operation at a high luxury standard."

Tucker's Point executive vice president Brian Young will become the hotel's managing director under the new agreement.