Cambridge Beaches could get new NYC owner soon
A major resort could be under new ownership later this year, it was revealed yesterday.
New York-based hotel development firm Dovetail is in talks with the Frascati Hotel Company, the owners of Cambridge Beaches in Sandys, with a view to taking over the operation.
Details of the buy-out have still to be agreed.
But Phil Hospod, the CEO of Dovetail, told The Royal Gazette: “We can confirm that Dovetail and the owners of Cambridge Beaches Resort and Spa have been working together to complete an acquisition in the coming months.
“If we are fortunate enough to become the new stewards of Cambridge Beaches, we will strive to honour its past and look to bring a new generation of traveller to the West End.”
Mr Hospod added: “Bermuda is a magical place with a beautiful and dynamic culture and we would be honoured to be a part of its bright future.
“We would like to thank everyone that has provided guidance and support along the way.
“Their help has been instrumental to our appreciation of Bermuda as a select destination for Dovetail.”
Dovetail is the owner and operator of several hotels in the US.
Industry insiders said Mr Hospod planned to build “a diverse portfolio of distinctive hotel properties in both established and emerging markets in the US northeast and mid-Atlantic”.
Penny MacIntyre of Rego Sotheby’s International Realty, who represents Dovetail, added: “There is an unmistakable impression of discovery and authenticity about Dovetail.
“They have a clear respect for Cambridge Beaches waterfront cottage colony origins and the talent to refashion and deliver its future distinctive resort guest experience.”
The company’s website said: “Dovetail is an owner and creator of experiential real estate with a focus on place making and award-winning hospitality.
“We are a collective of like-minded real estate, hospitality, and design-obsessed experts with a mission to create profitable, beautiful, and impactful real estate.
“We combine best-in-class acquisition, development, design, construction, and operational expertise with passion and talent to create spaces that leave an impression.
“We are particularly interested in projects that challenge our imagination and leverage our core capabilities.”
This story has been amended to show that Dovetail is not the owner of the Mainstay Hotel in Newport, Rhode Island.