Developer says he's still committed to hotel purchases
White Sands owner James Dwyer flew into Bermuda this weekend -- using the opportunity to address concerns over the uncertainty of his purchase of the Sonesta hotel.
The New Jersey property developer reaffirmed his intention to make both the Sonesta and Belmont resorts his by the end of the year.
He said comments from Bermuda Industrial Union president Derrick Burgess about the way the possible purchase was being conducted had "puzzled him''.
Mr. Dwyer said the Sonesta, being on the market for the last seven years, had already played havoc with the employees.
But he said, barring one undisclosed issue surrounding the Sonesta, they would try to push the $40-million deal through by the end of the year.
"Negotiations sometimes are on again, off again'', he said. "Nothing is easy; these things don't happen overnight.
"I find some of the remarks from different people to be puzzling, they should always keep doors open.'' He added that he hoped to have a good relationship with both the Sonesta staff and union.
Mr. Dwyer flew into Bermuda with close to a dozen of his staff, and sources close to the businessman say his love affair with the Island is what could ultimately make the difference with the sales.
His company wants Sonesta to stay on to manage the South Shore property, and will move ahead with plans to sell half the rooms on a shared-ownership basis.
At Belmont, which he also said could be completed by the end of the year, the main hotel building will stay and villas will be built in the grounds -- using existing plans for the site.
Mr. Dwyer's show of strength comes after prolonged negotiations for Sonesta, and which came to a head recently when owners Aetna Insurance declared they no longer wanted to deal with James M. Dwyer Real Estate and Investment.
But it is understood that Mr. Dwyer is confident a cash offer will become hard to resist for the Massachusetts company.
Meanwhile, his only existing Island property, Paget White Sands hotel, has undergone renovations, with improved rooms and dining areas. It is managed by former Stonington Beach general manager Esan Frederick.