Loren (Pink Beach and Elbow Beach) Act 2025

What this bill does

This bill gives special tax breaks and customs duty exemptions to help develop two Loren hotels - one at Pink Beach (already operating) and a new one at Elbow Beach. The government believes these hotel projects will boost Bermuda's economy and tourism industry.

If passed (voted YES)

• The hotel developer gets 15 years of exemptions from customs duties, hotel occupancy tax, and employer payroll taxes for both properties
• The developer receives land tax exemptions for 9 years (starting 6 years after Elbow Beach opens) if they keep 70% Bermudian staff
• Bermudians get guaranteed job training programs and employment opportunities at both hotels

If rejected (voted NO)

• The hotel developer must pay all regular taxes and customs duties like any other business
• No guaranteed percentage of Bermudian workers or management training programs
• The Elbow Beach hotel development may proceed more slowly or differently without these financial incentives

Who it affects

This primarily benefits Sardis Developments Limited (the hotel company) through significant tax savings, while also affecting Bermudian workers who would gain job opportunities and training programs at these luxury hotels.