Four Seasons deal at Coral Beach Club fizzles out

WEDNESDAY, JUNE 22: Plans to build a five-star branded Four Seasons Hotel resort at Coral Beach have fallen through.

The project’s pioneers, Brickman, said that the size and scope of the resort was “financially unworkable”.

In a letter that has been sent to members of the Coral Beach and Tennis Club, Brickman’s Rod O’Connor stated: “These past several years many of you have heard stories as to what would become of the club.

“The stories about Brickman having plans to develop a five star branded resort and residence club on a portion of the Coral Beach property and neighbouring Horizon Cottages are true.

“The stories of Brickman closing Coral Beach Club and ending the members’ use of the Club are false.

“Over the past years we refined and developed plans to bring a world class resort to Bermuda.

“Unfortunately, at the conclusion of negotiations with the Four Seasons, because of the realities of the economic malaise, Brickman decided that the size and scope of the resort was financially unworkable.”

In the letter Mr O’Connor reassured members that Brickman was developing a plan that will allow the club to continue in its present form.

But he also announced that members’ annual dues bill would be increased by 10 per cent this year.

Mr O’Connor said: “The essence of the plan is that members purchase an equity interest in an entity that conveys use of the club from the term of the ground lease, 200 years.

“Those members who wish to enjoy perpetual use of the club can purchase these interests.

“The club will be controlled by the Board of Governors and the Rules and Regulations of the club will be little changed from what exists today.”

Referring to the hike in annual dues he added: “We recognize that this is a large percentage increase but keep in mind that we have not increased the annual dues in the past three years since we leased the club.”

The Bermuda Sun tried to contact Mr O’Connor but did not receive a reply.

We also tried to speak to the Chairman of the Board of Governors, George Wardman, who was off-island but had not heard back from him by the time we went to press.

No-one in charge at The Coral Beach Club yesterday would comment on the contents of the letter.