Despite rampant rumours that Elbow Beach Hotel is closing down, the company's General Manager said no decisions have been made.

Several people within Bermuda's retail and restaurant industry have approached The Royal Gazette saying the hotel was slated to be knocked down in 2010.

However Frank Stocek, who is the hotel's General Manager and Hotel Association chairman, said that is not so. While major renovations are needed, he said, nothing is planned at the moment.

"We are currently in our design phase and that will take approximately six more months," he said. "Then there is the costing phase which usually takes one month and then we must look for financing.

"There is nothing on my desk saying that the hotel is scheduled for major renovations on X date.

"But I do know where the rumours are coming from. We have had a number of consultants looking at different options available to the company.

"They have been investigating the options and that is what is sparking these rumours.

"We are still a ways away from making any decisions. Unlike others we do not want to make any announcements about our plans until we are sure that they will happen. We don't want to disrupt our employees.

"I am still hiring people and am currently working on our marketing plan for next year so everything is business as usual."

But Mr. Stocek said the hotel would need to undergo major renovations in the future and he added: "When we are done it will be something that will take us a step above everyone else on the Island."