A consortium dropped from negotiations to develop the old Club Med resort at St. George?s, despite spending three years and more than $2 million preparing its bid, has no intention of seeking legal action over the way it has been sidelined.

It is taking a philosophical view of the turn of events announced on Tuesday and remains ready to return to the project should there be a further change of heart by the Government.

In a reversal of fortunes the St. George?s Renaissance Consortium, which had enjoyed extended periods of exclusivity as favoured bidder for the massive project, has been left out in the cold following an announcement by the Deputy Premier Dr. Ewart Brown this week that a new developer is now the front runner.

The consortium had plans for a $220 million project to turn the former Club Med resort, which has lain empty for nearly two decades, into a Four Seasons hotel along with a variety of low rise homes and a public square.

Intriguingly the new developer ? who is expected to be introduced to the public in February ? has previous links with the consortium.

Wanda Dorosz, consortium leader, yesterday said she was still awaiting official confirmation of the new route the Government was taking having been told verbally about the change last week.

?The Renaissance group is very disappointed and we can?t understand what has happened. We have spent three years and $2 million on a highly complex project,? she said.

?We continue to believe that the Bermuda market is viable and our team are ready to proceed.?

The consortium, which is led by Canada-based Quorum group, has employed a team of more than 40 professionals during its bidding process with architects, landscapers, a financial marketing team and others involved.

It reported at the start of January that its negotiations with the Government had ?stalled? and did not know why.

This week Tourism Minister Dr. Brown said that a new developer was signed on and ?finally we are going to have action as opposed to words with respect to this site?.

Mrs. Dorosz said the consortium had spent a long time working on the ?highly complex situation? of demolishing the old hotel and rebuilding, taking into account such issues as sources of water for the facility, how workers and construction vehicles would enter and leave the site, ensuring first homes for Bermudians are built as part of the project and protecting the local environment and fragile ecology during the work.

?Just to do the financial modelling and the costing of materials took between eight and ten months,? said Mrs. Dorosz. ?We assembled a world-renowned team and as of today that team is still intact.?

Asked if the consortium was likely to pursue legal action against the Government because of the turn of events after it had invested so much time and money, Mrs. Dorosz said: ?No. We pride ourselves in being people of the upmost integrity.

?Our philosophy is that life is long and Bermuda continues to be a viable market and we are professional people and do not want to cry foul.?

She added: ?We have had all the money in place for the project for a long time. The capital is there. Yes, we are pretty sad about what has happened, but I suspect we will bounce back.

?We now know a tremendous amount about the good and the positive things about Bermuda. We are go-getters. If the hotel project goes to someone else, and that is the Government?s will, then we will accept that.?