The Elegant Hotel Group which consists of 500 rooms in 5 properties on both west and south coast of Barbados are looking to bring a young and contemporary feel with their multi-million dollar upgrade. The upgrades for the five properties are set to begin in July 2010 and Howard Friedman, CEO of Elegant Hotels, believes luxury properties in Barbados have something of a reputation.
With a theme for the hotels as “barefoot elegance,” a concept that the hotel group defines as understated and unpretentious the Group will still be reaching into a wealthy market. The concept is defined by the group’s signature beach barbecues, and the champagne breakfasts at The House, a 34-room residence for adults only that offers a boutique hotel feel.
Friedman said, “Barbados is a bit stuck in its ways, the hotels in Barbados are quite nice, but the design is very colonial, very traditional, very conservative. I want to bring in a little bit of edge — a bit of South Beach without overdoing it.”
Tamarind Cove which sits on the island’s west coast will be the centre of the new vision. The oceanfront property is closing on July 1 for a four-month renovation with the aim of younger looking , and contemporary feel for the upgrade.
Vice President of Sales and Marketing of the Group Sylvia Scholey in a recent interview said, “The West Coast needs something more trendy, people are looking for something new and exciting and not mass-market. That’s been missing.”
The hotel executives believe that the new upgrades will be a concept that will set apart Tamarind from the group’s own Colony Club Hotel, a four-diamond property that has the traditional colonial feel. Scholey hopes the distinctiveness of each property will allow guests to have choices and find the property that best suites their style and needs.
The public spaces at Tamarind will have the feel of an outdoor living room, with contemporary poolside loungers, day beds and decks. The guest rooms will feature warm colors, Scholey said, “so you known you’re still in the Caribbean.” The resort also is enhancing its water sports program to take advantage of the island’s gorgeous beaches. Tamarind will offer aqua aerobics, water skiing, and an aqua school with one of the latest water sports trends, stand-up paddling.
Another change is the resort’s new spa, which guests at any of five properties may use. It fills a gap in the group’s offering, since Elegant previously did not offer any spa services. Now, guests can enjoy them inside or on the beach.
“If you don’t want to leave the beach,” Friedman said, “we will come to you.”
Crystal Cove Resort and Turtle Beach Resort, the group’s two all-inclusive resorts, also underwent rooms renovations, and management hopes to start renovations to their public spaces within the next year.
“We call it counter-cycle investment,” Scholey said. “We will come out of it stronger. We have a product we can compete with, and it’s the most contemporary product Barbados has seen in a decade.”
Friedman came out of retirement from a career at Hilton to oversee the renaissance of the hotels, particularly Tamarind.
There are still inefficiencies in our real estate development system that must be removed and there is room for more competitive practices amongst the players. Within the private sector they are market forces that ensure the competitiveness but within Government we need real policy change.
This is the analysis given by Andrew Mallalieu, Managing Director of Terra Caribbean as he looks at what needs to be done in both the private sector and public sector to ensure that real estate development in Barbados remains competitive and growing.
Mallalieu gives this assessment in the June 2010 Terra Caribbean newsletter which was issued on June 2, 2010. But he notes that his own firm is not simply cannot stand idly by. He argues, “Within the Terra Caribbean group which includes Bajan Services, we are seeking ways to be part of the solution for a renewed real estate environment. It is one thing to comment on what you see, it is another to be a catalyst for change.”
Moreover he adds, “We are familiar with at least three projects that have been delayed in starting because of unnecessary bureaucracy. As I said before we are not idly standing by, we are working with private sector and Government representatives to make the changes necessary to improve our industry’s competitive position.”
In his analysis Mallalieu contends that there is a preponderance of evidence today leaning towards an improving market for our “green shoots” to survive. But the conditions they must endure in the short term are harsh and we must all seek to improve that environment.
He quotes a major investor on the island stating “Barbados is for many the immediate choice – but the Country needs to ensure that this initial enthusiasm is not destroyed by restrictions, unnecessary delays, petty immigration issues etc. The good news is these are all within the Country’s control to fix, the less good is that they persist. It is not just the job of the politicians to do this – everyone in Government, business or the street (or boardwalk) in Barbados can and should play their part. Barbados is not the only country to face such challenges but on the plus side if it can overcome them, then with its historic and natural attractions it can really stand out in difficult times.”
The Terra boss reiterates that Terra will not stand idly by as their green shoots get baked in the sun.
There is no doubt that we are the safe harbour for real estate investing in the Caribbean but we need the investment activity to continue.
This is the latest assessment given by Andrew Mallalieu, Managing Director one of the largest real estate firms in Barbados, Terra Caribbean. He contends that confidence to make investment decisions is what we need in Barbados now.
Looking the issues surrounding the largest stalled development project in Barbados currently, the Terra boss says, “The problems at the Paradise Beach project have had widespread press coverage. That negative coverage has worked against us and the continued pronouncements by the new chairman of the development project that have not been followed by real action have exasperated the situation.”
Moreover Mallalieu further contends that the failures at the Black Bess development and the numerous non-performing real estate loans in the Kaupthing Singer Freidlander bank portfolio are also a drag on Barbados market confidence.
The real estate boss also looks at the catastrophic oil spill in the Gulf of Mexico, he remarks, “…to add a further blow to confidence is the grave concern that we all feel for the environmental catastrophe occurring in the Gulf of Mexico. While it is unlikely that Barbados’ shores will have any direct impact from the oil spill we also are reminded of how fragile an environment we share with the other creatures of this earth. We do not need this further uncertainty at this difficult time in the world financial recovery.
But there are still positive signs within the market. He highlights, “On a very positive note we have seen further investment from well capitalized developers like LTG Real Estate at Beachlands, and Gary Morse at St. Peter’s Bay, and the Williams /Barton group at Apes Hill, and the developers at the Sands, who are setting the pace for other developers to follow.”
A luxury project which Mallalieu fails to mention in his analysis of the sector is that Ocean Two. The project has continued its development at a time when some other projects have stalled, or not started as scheduled. The developers of the luxury condo-hotel which sits on the pristine beach at Dover on the South Coast is now well on its way to completion and investors of the 72 unit property are eager step into their one or two bedroom units.
