Buena Vista Hospitality Group

Tucker's Point Club in Bermuda, a $250 million development with an ultra-luxury resort, private golf, beach and tennis club, and high-end residential community, is taking major steps forward. The premier 200-acre property, which is part of Tucker's Town–the island's most distinguished residential area, will attract the top segments of the tourism and real estate markets.

The development will bring with it the first new luxury hotel on the island in nearly 30 years. The Tucker's Point Hotel & Spa will be erected on the site of the original 1929 Castle Harbour Hotel.

The Bermuda Government played a critical role in supporting the development. The plans for Tucker's Point Club helped prompt the Government's Hotel Concessions Act 2000, which provides tax and duty relief programs to spur the island's hospitality sector. 
"We have reached this important milestone, in part, due to the cooperation and persistence of the government who has shared our goal of reinforcing and enhancing Bermuda's reputation as a world-class luxury resort destination," said Ed Trippe, President of Tucker's Point Club.

"We are excited that such a high-quality resort is being built in Bermuda and confident of its long-term benefits, in terms of both jobs and revenues, to Bermuda's overall economy," said David Allen, Bermuda's Minister of Tourism. "The advent of Bermuda's first major new hotel since the early 1970s will also help Bermuda's tourism industry."

Tucker's Point Club will be built in phases over the next five years. It will include, in addition to a completely new hotel and an exceptional private golf, beach and tennis club, a European-style spa and health club, a private residence club and an intimate retail village.

Homeowners of all the residential communities at Tucker's Point Club and hotel guests will enjoy the extensive array of services at the Tucker's Point Hotel & Spa, plus access to all the quality facilities and amenities of the resort, including membership in the Tucker's Point Golf, Beach & Tennis Club.

"Tucker's Point Club represents an innovative tourism product that targets the growing market of affluent visitors seeking to purchase luxury vacation homes while availing themselves of all the services and amenities of a full-service resort," Trippe said.
The first phase of the residential development includes 26 luxury single-family homes and town homes to be known as Ship's Hill Estates. Set high on a hilltop with 
sweeping vistas of Castle Harbour and Harrington Sound, these private residences are commanding $1.7 to $3.3 million dollars. 
The 13 estate homes and 13 town homes will be available on a long-term leasehold basis. The estate homes will be approximately 3,600 square feet, each offering a choice of floor plans and customized finishes, including a separate garage, terrace, and private swimming pool. The town homes are designed as 2,800-square-foot attached residences, also with a choice of floor plans and customized interior finishes.

Another community, called Shell Point, offers some of the last waterfront homes available in Bermuda. There are 11 premium homes, which range from $3.5 to $5 million.

The new hotel, scheduled to open in 2005, is designed in the tradition of Bermuda's distinctive cottage colony style. Each cottage cluster will be separated by stonewalls and winding paths, and all guestrooms and suites will feature views of Castle Harbour or Harrington Sound. A European-style spa and health club will be among the hotel's facilities.
The private residence club at Tucker's Point will consist of 20 villas and a private clubhouse. All villas will be fully furnished with top-quality finishes and will have two-, three- or four-bedrooms with one or two master suites. Members will have a deeded ownership interest in one of the villas, which will entitle them to flexibility in the length of their stay with options ranging from long weekends to month-long holidays.

Bermuda Properties has long recognized the importance of its residential community to the success of Tucker's Point Club. Mr. Trippe explained that a private residence club was a product that has proved highly successful in other destinations, and he said that he is confident that the Private Residence Club at Tucker's Point would be very well received in Bermuda. He added that the residential community would also provide year-round patronage for the development, creating stable year-round employment. Most important, he noted, the residential community adds a high degree of financial security essential to the project.

Tucker's Point Golf Course is a joint venture comprising the Tucker's Point Club and Buena Vista Hospitality Group (BVHG), an international hospitality and golf management company based in Tampa, Florida. BVHG's extensive experience dates back to the early 1970's. The company has attracted such renowned projects as PGA National Resort & Spa, headquarters of the PGA of America; LPGA International, home of the ladies Professional Golf Association; Buena Vista Palace Resort & Spa and East Hampton Golf Club. BVHG has been awarded an exclusive license by the PGA (U.K.) for the creation of high-end golf properties to be branded "PGA International Resorts". Additional information on BVHG can be found on the company's website www.bvhg.com or by contacting Mike Frost, CEO, 2910 W. Bay To Bay Blvd., Suite 200, Tampa, Florida 33629. Phone (813) 221-7535; Fax: (813) 222-8344.

The principal investors in Tucker's Point Club are Bermuda Properties Ltd., which has owned and operated the property since 1958, and Argus Insurance Company. For residential sales and club inquiries, call the Tucker's Point Club Sales and Information Centre at (441) 298-6915, or e-mail sales@tuckerspoint.com. The centre, located on-site, is open daily, by appointment. Information is also available on the Tucker's Point Club web site at www.tuckerspoint.com.