New legislation and amendments have been put forward to support the redevelopment of the Elbow Beach Hotel and assist tourism-related businesses.

Owen Darrell, the Minister of Tourism, Transport, Culture and Sport, this morning tabled tourism investment orders for both Navigate Drone Light Shows and Odyssey Commercial Charter Yacht.

The Government is also expected to table the Tourism Investment Amendment Act 2025 and the The Loren (Pink Beach and Elbow Beach) Act 2025 during the session today.

Mr Darrell said that the Government was working to promote the incentives available to attractions, restaurants and others in the tourism sector beyond hotels through tourism investment orders.

“The result is a growing interest from local entrepreneurs who seek to avail themselves of the benefits of various forms of relief that often are assumed only to apply to large developers,” he said.

“It is a source of some pride to advance these orders as they demonstrate growth in the local economy and the Government’s determination to support those who express the confidence in our tourism fortunes.”

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Statement on Tourism Investment by Owen Darrell

Mr Darrell also told the House that the Government would table the Tourism Investment Amendment Act, which would aim to make the legislation that regulates tourism investment orders more flexible.

“The restrictive criteria by which a tourism investment order might be varied will be a thing of the past and in consultation with the Minister of Finance, the minister responsible for tourism will be able to take account of real-time factors affecting tourism-related businesses and the potential impact on Bermuda’s national economic interest,” he said.

“This flexibility has long been suggested by developers and investors and the amendments to the Act represent a constructive understanding of the role the Government must play in facilitating the investment that ultimately benefits the people of Bermuda.”

Mr Darrell also said that the Government would table legislation to support the developers behind The Loren as they seek to redevelop the site of the Elbow Beach Hotel.

The Loren Group announced in April that they had purchased both the hotel site and nearby Fritholme Gardens residences in Paget.

Mr Darrell said that the developers intended to operate with a “one hotel, two locations” model, which had not previously been utilised in Bermuda.

“This concept has been adopted with great success in some of our competitor jurisdictions and it is an exciting prospect for Bermuda,” he said.

“The Bill to be tabled in this House today proposes to grant relief to the developers for their intended vision, consistent with that which is available under the Tourism Investment Act.

“A bespoke Act of the legislature is required to realise this new concept into Bermuda’s tourism inventory.

“It is likewise an exciting prospect as we stand on the cusp of seeing a long-vacated site revitalised and providing jobs for Bermudians in the various stages of demolition, construction and operation.”

Mr Darrell added that together, the steps taken by the Government would help to support local attractions, maintain investor confidence and provide job opportunities in a key pillar of the island’s economy.