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Elbow Beach Bermuda's Burns on Tourism and Development (Audio) · Bloomberg Intelligence

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  Speaker 1: Let's get right to Ed Burns Now he's managing director
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  Speaker 1: at the Elbow Beach, Bermuda, to talk about this storied
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  Speaker 1: resort and where it is and where you're taking it next. Ed, welcome,
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  Speaker 1: thank you, thank you for coming. Well, it is a
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  Speaker 1: beautiful spot Bermuda, this beach, the turquoise water, the sand
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  Speaker 1: that feels like flower under your feet. But give us
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  Speaker 1: just a in a nutshell, the history of this resort. Well,
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  Speaker 1: it opened originally opened the nineteen o eight UM as
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  Speaker 1: the luxury hotel in Bermuda, and it's evolved ever since then. UM,
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  Speaker 1: it's entertained royalty, Kings and Queens and college week for
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  Speaker 1: a long time, and it's evolved into nine different buildings
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  Speaker 1: all tied to one UH. And it's just it's just unbelievable.
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  Speaker 1: What are you aiming to do with the property? And
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  Speaker 1: also maybe just explain the context of tourism and how
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  Speaker 1: that is developing on the island. Uh. Tourism is on
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  Speaker 1: the move, it is UH it needs to rebound here
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  Speaker 1: a bit. UH. Over the course of the last thirty
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  Speaker 1: years or so, the islands inventory of hotel rooms had
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  Speaker 1: dropped for many reasons. But UM, the tourism sector is
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  Speaker 1: back on the front end of the burner sort of stakes.
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  Speaker 1: So with the securing the America's Cup event next year
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  Speaker 1: was just a huge, huge boost for Muted and UM.
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  Speaker 1: And that's ahead of us and there's a lot of
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  Speaker 1: activity in front of it. So there are three projects
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  Speaker 1: on the island. Two of them are approved to St.
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  Speaker 1: Regis Hotels and to go down at on St. George's
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  Speaker 1: area and rich Carlton Reserve up in the Somerset we
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  Speaker 1: are about to uh, we're embarking on possibly expanding our
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  Speaker 1: inaventory by um sixty eight rooms or suites UM. And
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  Speaker 1: there's some plans for a property down the beach um
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  Speaker 1: that's owned by Michael Douglas Ariel Sands to open up.
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  Speaker 1: And there's a property under construction that should be completed
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  Speaker 1: in six months called Pink Beaches. Also on the south shore.
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  Speaker 1: What is the number one thing you think might surprise
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  Speaker 1: people who have not been to Elbow Beach before. Well,
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  Speaker 1: the proximity is the obvious one. You know, every time
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  Speaker 1: I fly here and back, you know you want to
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  Speaker 1: stretch your legs, but at the time you get to
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  Speaker 1: your cruising speed, you have to sit back down. Because
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  Speaker 1: you're landing, so it's just remarkably quick. I've been big
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  Speaker 1: Bloomberg radio listeners so used to commute that on New York,
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  Speaker 1: listening to you guys all the time, and I'm getting
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  Speaker 1: guessing on many days, Uh, we could get here to
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  Speaker 1: Bermuda quicker than I could get home to my house
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  Speaker 1: in Cantona, New York. So I think that probably makes
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  Speaker 1: a lot of sense. Well said Ed Burns, Thank you
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  Speaker 1: very much, Managing director Elbow Beach of Bermuda. You're listening
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  Speaker 1: to taking stock ocean front enclave of classic style and
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  Speaker 1: contemporary luxury.