A global law firm advised Clarien Bank on its involvement in supporting the Fairmont Southampton hotel renovation project.

Financing for the initiative, in which Clarien Bank and Starwood Property Trust were key lenders, closed last week.

The project was estimated to cost $376 million in 2022, but is now expected to total more than $550 million.

A spokeswoman for Kennedys Bermuda, which described the financing as “landmark”, said: “This transaction was particularly complex due to its size and strategic importance.

“It represents a significant milestone as the largest single tourism investment in Bermuda’s history.

“The successful financing not only ensures the future of an iconic hotel but also strengthens Bermuda’s broader tourism and hospitality sector, positioning it for long-term growth and sustainability.”

Kennedys partner Simon Benedek, who led the transaction with lawyers and other staff from the firm’s corporate team, explained: “It was rewarding to collaborate closely with the Clarien Bank team, led by Simon Van de Weg and Roger Brown, on this intricate and highly challenging multi-jurisdictional financing transaction.

“Their leadership, combined with the team’s dedication and expertise, was instrumental in navigating the complexities of the deal.”

The Fairmont Southampton hotel closed in 2020 and is expected to fully reopen in spring 2026.