Luxury brand unveils $150–$200 million redevelopment set to open in 2029
The Loren Group issued the following press release.
The Loren Group has expanded its global footprint with the acquisition of the iconic Elbow Beach Hotel and Fritholme Garden Residences in Bermuda, a landmark property situated on Bermuda’s picturesque southern shore. This strategic acquisition underscores The Loren’s commitment to expanding its luxury hospitality and residential footprint and enhancing Bermuda’s hospitality landscape. The Loren at Pink Beach, which opened in 2017, has been the marquee, luxury property in Bermuda, raising the bar for contemporary hospitality on the island. This expansion is a direct result of the brand’s success, in Bermuda and at The Loren Austin, which opened in 2022 and has seen a steady increase in both occupancy and ADR YoY, and sold out all 24 residential units in its pre construction phase. The Loren at Turtle Cove in Turks and Caicos will open in early 2027 and has sold the majority of available real estate, including the highest recorded sale to date at $19.5 million on the island, that sits alongside a five-star luxury hotel experience. With the addition of Elbow Beach, The Loren brand now controls over $300 million in hospitality and real estate assets across Bermuda, Turks & Caicos, and additional holdings.
“Acquiring the historic Elbow Beach Resort in Bermuda is a key part of our brand vision to rejuvenate properties that blend a storied past with The Loren’s signature style to create an unparalleled destination for both locals and visitors in desirable locations,” says Stephen King, CEO & Founder of The Loren Group. “This deal is a testament to our roots in Bermuda and the growing demand for The Loren brand following the successful opening of Austin and looking ahead to our next luxury project, The Loren at Turtle Cove. Our model of offering investment opportunities through residential units within a luxury hotel environment and amenities has proven to be an expandable and relevant model.”
The Elbow Beach Resort, which has remained closed since early 2020, has been a beloved fixture in Bermuda for over a century. The Loren is working hand-in-hand with the Government of Bermuda on planning, environmental stewardship, and employment opportunities with a focus on a mix of worldclass design, local integration, and a commitment to elevating Bermuda’s global tourism offering through the acquisition. The Loren expects to create more than 150 new job opportunities to fuel the local economy and has worked closely with Habitat for Humanity, the Salvation Army, local church organizations, and the ASPCA Dining & Amenities organization to donate furniture and equipment preserved from the original property.
Site plan of The Loren at Elbow Beach. Image supplied.
The Loren Group plans to undertake a comprehensive, $150 – $200 million-dollar redevelopment of the property to showcase its natural, vast water views including an uninterrupted stretch of ocean that spans over a mile wide and as far as the eye can see. Further details around the 75-room hotel and 27 residences, a mix of Estate homes and cottage-style accommodations that blend harmoniously with the landscape, will be shared in the coming months and will deliver a world class mix of luxury real estate, an expansion of the Loren Hotel style, restaurants, spa, member and wellness facilities, reflecting the brand’s “uncompromising by nature” ethos. Initial plans do include a chic rooftop restaurant, inspired by Nido, the brand’s celebrated rooftop restaurant at The Loren Austin, a culinary destination rooted in a philosophy of sourcing ingredients from local farmers to create internationally-inspired dishes and experiences that bring people together, including the Loren’s annual Guest Chef Series. Staying true to the property’s celebrated history, Mickey’s will return as a revitalized and stunning beach club restaurant honoring the beloved original with unrivaled views.
The new Elbow Beach property will serve as the Loren brand’s flagship and a representation of the group’s future five-year strategy which focuses on the redevelopment of iconic sites, the development of branded residences and villa sales as a core offering and revenue stream and expansion to select international destinations while maintaining exclusivity in location and design integrity. The newlyimagined Loren at Elbow Beach is expected to open in 2029, with residential villas and cottages offered at $2.5–20 million, depending on size and location on the land. Pre-sales have begun with strong interest from both Bermudian buyers and international investors, with early commitments already representing a significant portion of the first phase of inventory.
Continuing The Loren’s commitment to sustainability, the new property will establish composting partnerships with Pink Beach and Yard Farm and preservation of natural vegetation will remain paramount, in line with the brand’s approach to deliver understated luxury through a sustainable lens. The Loren Elbow Beach will also join The Loren at Pink Beach and The Loren at Lady Bird Lake in participating in the brand’s Roots Initiative, a program designed to capture carbon through biodiverse reafforestation.
The Loren Group’s current portfolio includes two operating properties. The Loren at Pink Beach was recently added to the official Michelin Hotel Guide and The Loren at Lady Bird Lake in Austin, overlooking Lady Bird Lake and Ziller Park, continues to see repeat guests and loyalists who appreciate the design-led hospitality and experiences exclusive to The Loren brand including ongoing culinary-pop ups at The Loren Cafe, immersive wine and spirits tastings and rotating art exhibitions at the iconic Paggi House. The Loren at Turtle Cove in Turks and Caicos is set to open in early 2027 with The Loren at Elbow Beach to follow. The team is actively vetting additional locations for expansion across the US, Caribbean, Europe and beyond. For more information, please visit The Loren Hotels website.
