On Friday, Minister Derrick Burgess gave a sneak peak into the planned $80 million makeover of the signature 9 Beaches resort. Minister Burgess:

...the partnership between IRC Sandys Limited and Nordica Development will lead to an $80 million project that will see the expansion, upgrading and redevelopment of 9 Beaches Resort. The new facility will not only enhance the tourism product in the west end of the Island, but it will do so much for the Island’s tourism product generally. It will create in the west end of the Island yet another jewel.

Mr. Speaker, the new 9 Beaches Resort will be a first class, mixed use development in a modernized Bermudian-themed manner. It will include a dockside restaurant and lounge and the addition of new public space, permanent accommodation units and further enhancement of the resort’s grounds and amenities. Visitors through the years have been captivated by the over the water units, with the result that the owners dismissed any idea of removing them. Instead, the developers propose to upgrade these units completely, creating a truly luxurious environment over Bermuda’s crystal clear waters.

In the long run, this investment and this resort will bring more revenue into Bermuda's economy and it will create jobs. Minister Burgess:

It is significant to note that the 9 Beaches development will provide additional jobs for Bermudians, both construction and on-going resort employment. In this regard, Mr. Dodwell has advised that when the current staff was advised that the facility would remain closed for a year whilst the development was underway, there was general acceptance that the closure was necessary in order to lead the way to the planned world class tourism facility and considerable excitement at the news that the hotel would re-open next year. Mr. Dodwell further reported that a number of the existing staff members had already been offered employment elsewhere, both inside and outside the hospitality industry, and that the management team at 9 Beaches was working with the remaining staff members who were still seeking employment opportunities for the year ahead.

These investors are bullish on Bermuda Tourism. If they didn't believe in the tourism turnaround, they wouldn't be investing in these upgrades.