Five-star hotel operator St. Regis is understood to be the mystery group poised to run a re-developed hotel resort at the former Club Med site.

The luxury brand operator is believed to be in the final stages of negotiations to put its name to a multi-million dollar project that will see the demolition of the derelict Club Med property and the creation of a 150-unit property with apartments and villas.

Premier Ewart Brown on Tuesday revealed investment banking firm Bazarian International as the key player now favoured by Government to pull together the hotel development scheme in the East End.

Although Carl Bazarian, the founder of Bazarian International, said he could not name the luxurious hotel operator lined up to run the new hotel, an investigation by the Royal Gazette points to St. Regis as being the mystery group.

St. Regis is part of Starwood Hotels and Resorts Worldwide, a group which owns, operates, franchises and manages hospitality properties under eight brands, the others are Sheraton Hotels, Four Points by Sheraton, Westin, The Luxury Collection, Le Méridien, W Hotels, Element and aLoft.

Clues to the identity of the top hotel operator were dropped during the press conference given by Dr. Brown and Mr. Bazarian in which Mr. Bazarian said the operator in question already had well-known resorts in Bora Bora and Anguilla.

Bazarian International has also previously been involved in hotel developments in Bora Bora and Anguilla.

Calls to St. Regis Hotels and Resorts, headquartered in White Plains, New York, were not immediately returned as this newspaper went to press.

On its web site St. Regis markets itself as being in the top tier of world’s luxury hotels and notes the diverse range of creative, famous people who have chosen to stay at the New York St. Regis Hotel, including movie star Marlene Dietrich and painter Salvador Dali.

The hotel in New York, “an original Beaux Arts classic landmark” was built by Colonel John Jacob Astor IV in 1904, and is consistently ranked one of the world’s finest hotels. St. Regis hotels can now be found in Washington, Rome, Aspen, Florida and California, London, Beijing and Shanghai, as well as Bora Bora in French Polynesia and the Temenos Villas in Anguilla.

According to St Regis’ web site customers can expect: “An effortless arrival experience sets the tone of a spectacular visit - much like the welcome offered by a gracious friend at a fine private residence. Meticulous and discreet personal service is flawlessly delivered by carefully noting and recalling your preferences from preceding visits.”

The company states: “From New York to Beijing, each St. Regis is desirably located. We are honoured to offer the extraordinary world of luxury awaiting you at St. Regis Hotels & Resorts.”