The new owners of Rosewood Tucker’s Point are confident in the future of tourism in Bermuda beyond the America’s Cup.

Alessandro Colantonio, who led the purchase of the property for Miami-based investment firm Gencom, said that the company had been looking at investments on the island for several years, but now felt the tourism industry was moving in the right direction.

“I would like to say we have always presented ourselves as being a very opportunistic investment shop,” he said.

“As we spend a lot of time in this space, over time, we have learnt to really identify assents in the market where we see long-term potential, be it in the form of investment in tourism or airlift.

“Bermuda is a location we have looked at several times over the years, and this was the third time we looked at Tucker’s Point. We first looked at it in 2012 and at that time we were not comfortable with the direction of tourism.

“When we looked again in 2015, we started to see the start of the tide turning when it comes to the future of the destination.”

In addition to the steady increase in visitor arrivals, he said Gencom noted the rise in airlift to the island and investments in the island by Ritz Carlton and St Regis, saying the island was showing renewed brand interest.

“The America’s Cup is great, but we look at that as a launching point for a long-term boost for the market,” he said.

“Across the board, all things are pointed in the right direction for us.”

Mr Colantonio credited the Bermuda Tourism Authority and the Bermuda Government with putting the island’s tourism industry on the right track, saying: “I would say the future has never been brighter, based on the last 15 months of data.”

Asked about plans to develop further luxury real estate properties on the site, Mr Colantonio said the details were still somewhat of a work in progress, but stated that the company understands that there are concerns about construction density on the site.

And he added that the company was focused on “quality over quantity” when considering any further development on the side, saying: “We don’t want to do so much on one side of the business plan that it affects the other side.

“The phase one plan that we have in mind contemplates 16 waterfront condos in a very low-density development. Other than that, it is about selling the existing unsold fractional ownership units.”

He said the company was also looking at potentially selling a handful of SDO lots on the site, but added: “None of the lots are being looked at as multiple developments. It’s really single family homes.

“The only area that we really put a number on was the 16 waterfront condominiums. Phase two has a few different options that we are looking at.”

Mr Colantonio also said that the company was not presently looking at changing the staffing levels at the resort, but he added: “If anything, we are going to need to add some staff.”