Developer Desarrollos Hotelco Group has signed a statement of intent with Starwood Hotels and Resorts, Tourism Minister Shawn Crockwell told the House on Monday.

He made the statement while clarifying an answer he gave to the question in an earlier session of Parliament, when he stated that the Starwood Group had an operator’s agreement with the developer.

Progressive Labour Party MP Lovetta Foggo had asked in the March 11 session what commitments the Starwood Group had made regarding the development of a new hotel at the former Club Med property, officially called the St George’s tourism development site.

Mr Crockwell said on Monday: “I provide clarification that the Starwood Hotels and Resort and Desarrollos Hotel group, the chosen developer for the St George’s tourism development site, have a signed term sheet and [the parties] are working towards finalising the hotel management and related agreement over the coming weeks.”

It was explained that “term sheet” could be defined as the parties’ statement of intent. The Desarrollos Hotelco Group was selected from five companies to redevelop the 124-acre Club Med site. It maintains a low profile and does not appear to have a website.

The proposed development includes a 238-room hotel and the renovation of the 18-hole, Robert Trent Jones-designed St George’s Golf Course.

The resort will also include:

• Sixteen hotel residences

• Twenty-four golf villas

• Sixteen estate residences consisting of three and four-bedroom residences

• Spa and fitness centre

• Meeting rooms and ballroom

• Casino

• Swimming pools

• Pool bar and grill

• A speciality restaurant

Attempts to develop the property included plans by Bazarian International Financial Associates for a Park Hyatt Resort, which was supposed to open in 2012.

In October 2012, the contract was terminated and the Park Hyatt Hotel Act was repealed.

Originally built as a Holiday Inn, it changed to Loews and was then taken over by Club Med. It closed in 1988 and was imploded in 2008.