Monday, October 16, 2006

Update

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In a June 15, 2006 CBC interview Michael Pemberton, Executive Director of Paradise Beach LLP, disclosed that 3/4 of a billion dollars will be spent to bring bring Barbados its first Five Star global brand - Four Seasons.




* The project is "is now under way."
Comment: Presumably, this means construction has already started.

* The project is being twined with another similar one to be built nearby on Grenada and a plane is to be bought to ferry guests back and forth between the two resorts.
Comment: Since the former Paradise property is less than 35 acres and the Grenada property is more than 500 acres the assumption must be that they plan to build a golf course at the Grenada property and use the plane to take guests of the Barbados hotel to Grenada to play golf. 200 acres are being offered for golf and villa development at Holetown or Warleigh, why not buy one and build a golf course and more villas in Barbados and forget the plane idea which is all pie-in-the-sky, in my humble opinion. The two resorts can hold their own independently of each other.

* Wealthy investors are still being sought to subscribe to the $1.6 billion costs of the two resorts.

* $250 million in financing has already been secured through HBOS.

* Villas are priced between 3 - 12 million dollars - 4 already sold.

* Four Seasons will train 100 Barbadians a year in exchange for being allowed to bring in foreign staff to run the hotel.

* Ritz Carlton and Mandarin Oriental are also shopping sites in Barbados.
Comment: The Ritz may have already found its home at Laborie in nearby St. Lucia.

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