The US developer behind the purchase of Bermuda’s Pink Beach Club has an extensive background in hotels and real estate acquisitions.In particular, Frank Palmer spent 15 years as executive vice-president and director of the hospitality giant Aircoa, which managed hotels and resorts across the US.Partnered with Capella Hotel Group, Frank Palmer’s locally incorporated PBC Holdings Ltd now aims to redevelop the Pink Beach Club in Tucker’s Town in time for next year’s tourist season.A resident of New Canaan, Connecticut, Mr Palmer is a managing director of Stoneleigh Capital LLC, of which PBC is now a subsidiary.Stoneleigh’s principals invest in “basic industry, real estate and financial services”, according to its corporate website, which lists an extensive property portfolio.Stoneleigh’s hospitality partnerships include two US ski resort development projects, and the Caneel Bay hotel on the island of St John.According to local records, PBC Holdings has no Bermudian directors. Shares are held by Mr Palmer, who joined Stoneleigh in 2009.His online resume notes his role as manager of a real estate corporation that developed more than $65 million of luxury homes in his native Fairfax County, Connecticut, as well as the Turks and Caicos.Mr Palmer’s record also lists a lengthy history in the hospitality business.From 1993 to 1999 he managed Talon Group, specialising in “opportunistic hospitality-based transactions”.In 1990, Mr Palmer became a vice-president for the hotel company Divi Resorts after his business Palmer Group acquired a significant interest.Between 1987 and 1990, he managed corporate acquisitions for the company VMS Realty — leading the company’s “$2.1 billion bid for Intercontinental Hotels, including a disposition of over $1 billion in international hotel property”, Stoneleigh’s website said.He holds a degree from Cornell’s School of Hotel Administration.