The Loren Group—a collection of luxury hotels, residences and restaurants—has acquired the Elbow Beach Hotel and Fritholme Garden Residences in Bermuda. Other terms and conditions were not disclosed.
The acquisition underscores the company’s commitment to expanding its luxury hospitality and residential footprint and enhancing Bermuda's hospitality landscape, according to the company. This company’s portfolio includes The Loren at Pink Beach in Bermuda, which opened in 2017.
"We are honored to take ownership of the historic Elbow Beach Resort, a property that holds a special place in Bermuda's rich cultural and hospitality heritage. Our vision is to rejuvenate this esteemed property, blending its storied past with The Loren's signature style to create an unparalleled destination for both locals and visitors," said Stephen King, CEO & Founder of The Loren Group, in a statement. "This deal is a testament to our dedication to Bermuda and the opportunity we see for continued growth as a luxury hospitality brand.”
The Elbow Beach Resort—which has remained closed since early 2020—has been a fixture in Bermuda for more than a century. The Loren Group plans to undertake a comprehensive redevelopment of the property with detailed plans will be shared in the coming months.
In addition to providing new opportunities for ownership in Bermuda, this new project will create significant employment opportunities to support the local economy. The Loren Elbow Beach will participate in the brand's Roots Initiative, a program designed to capture carbon through biodiverse reafforestation.