WEDNESDAY, APR. 11: A deal was today struck to create the first brand-new hotel on the island in decades, Minister of Tourism and Business Development Wayne Furbert said today.

Mr Furbert confirmed that contracts for Hamilton’s showpiece St Regis hotel had been signed between the City of Hamilton and developers Starwood.

Mr Furbert said: “I am more than pleased – I feel over the moon that we can start the first hotel development for years.

“It will bring some excitement and show that Bermuda is back on the map in tourism.”

And he added that he expected more proposed developments to break ground on the island in the future.

The hotel and condominium development, slated for the car park at the corner of Par-la-Ville Road and Church Street, had been stalled as Starwood continued talks with the City, which holds the lease on the site.

The Bermuda Sun reported earlier this month that Mr Furbert had brokered a summit meeting between Starwood and City Mayor Charles Gosling and other members of the Corporation in a bid to move the plans on.

Mr Furbert said: “The St Regis project is so very important to Bermuda. It will create many jobs which will stimulate our economy and will demonstrate, in the most practical way, Bermuda’s ability to attract top hotel management groups like Starwood and give confidence to future investors.”