Azura granted tax breaks following redevelopment
A Warwick hotel is to be granted a host of tax breaks after undergoing extensive renovations.
Azura Bermuda, on South Shore, will be opening a new oceanfront restaurant this summer. Other upgrades include an ocean pool and beach bar, a fitness centre and an expansion of the hotel’s lobby. In addition, the gym will be converted into management offices.
Presenting the Tourism Investment (Azura Bermuda) Order 2024 in the House of Assembly on Monday, Kim Swan, the Junior Minister of Tourism, Culture and Sport, said that the hotel’s parent company, Clearwater Development, had poured more than $47 million into the resort — formerly the Surfside Beach Club — since its purchase in 2016.
The order grants Azura Bermuda “full terms” of relief on customs duty, hotel occupancy tax, the employers share of payroll tax and land tax.
Under the terms of the relief contract, Azura Bermuda must ensure that 70 per cent of staff are Bermudian and also run a management-training programme.
The order was backed by the One Bermuda Alliance.
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