Final Planning approval was granted last week for the Tucker's Point Hotel and Cottages and the 104-room, $100 million hotel is scheduled for completion in late 2007.

The announcement was made by Tucker's Point Club president Ed Trippe at a press conference held in the ruins of the old Marriott hotel yesterday.

Mr. Trippe thanked both the Government and the Bank of Bermuda for their support and encouragement. "A project of this magnitude could not have happened without a strong public-private partnership," he said.

Bank of Bermuda CEO Philip Butterfield also welcomed the progress, saying that from the perspective of the business community the availability of an ultra-luxury hotel was a huge plus.

When bringing people in from overseas, businesses ? especially large international businesses like the Bank of Bermuda ? were often "challenged" to find accommodations, he said.

Though the problem was "good news" as it meant visitor arrivals have increased, Mr. Butterfield heralded the hotel at Tucker's Point, saying it would "help us meaningfully" in the future.

The Tucker's Point Hotel and Cottages will have three parts: the main hotel (with some guests housed in a series of cottages), a fractional ownership facility called the Residence Club, and a full-service condominium complex called Harbour Court.

All three will enjoy all the services of a first-class hotel, such as housekeeping, food and beverage, and concierge.

The Residence Club is due to open in November, 2005, while Harbour Court will follow in phases in 2006 and the main hotel opens in late 2007.

At a cost of more than $800,000 per room, the hotel is Bermuda's first luxury resort in more than 30 years.

Every guest room and suite has a balcony with water views, while the cottages and Manor House suites have fireplaces, wet bars, and sitting areas.

A restaurant will sit on the hillside with sunset views of Dockyard, and a 5,000 square foot conference centre along with a spa including a garden sanctuary are all included in the plans.

Tourism Minister Ewart Brown said in a press release that the hotel would allow Bermuda to compete successfully with the finest tourism destinations in the world while Department of Tourism Director Cherie Whitter pledged the Department's continued support and encouragement.

The principal investors in the Tucker's Point Club are Bermuda Properties, Ltd., which has owned and operated the property since 1958, and Argus Insurance Company Ltd.

More information is available online at www.tuckerspoint.com.