The move comes as more business people throughout the Island have expressed confidence in tourism and the Island's immediate economic future by investing large sums of money into acquisition, additions and renovations.

But Mr. Madeiros has admitted that part of his reason for retiring was the pressure he felt from hotels who were demanding more in commission payments.

The deal, which industry sources say was worth between one and two million dollars, closed on April 1 with Mr. Madeiros ending a 25-year career that saw him begin with nine bicycles and one employee.

The business changed hands last week with almost 300 mopeds and a staff of 18, all of whom have been offered positions with Oleander.

Mr. Madeiros admitted that he was looking forward to getting out of the business.

"Business is not getting any easier,'' he said. "It is a seven day a week operation and a tremendous amount of pressure.

"Hotels are demanding more -- demanding higher commissions. They will squeeze whatever they can get out of you. I refuse to be squeezed anymore.

"I refused to pay one hotel any more and their reaction was that they were interested in the bottom line. They don't care about service to the tourists.'' Mr. Madeiros would not say which hotels were seeking higher commissions but he fired a parting shot at Government for not forcing livery cycle owners to offer a private, off-road area where tourists could practice their moped riding before going onto the main roads.

"They are allowing people to put tourists right on the road, without any training. It is totally out of order.

"Then they wonder why tourists are having so many accidents.'' A private practice track for tourists was a key element of Ray's Cycles, as his business was known.

The sale includes an acre of land, the two-storey building with 7,000 square feet and its contents, together with concessions at Dockyard and Cambridge Beaches.

Oleander Cycles Ltd. also acquire four more trucks to take their fleet up to 11 vehicles, and the firm will now own a second practice area.

Oleander is now up to 1,150 rental cycles in a fiercely competitive industry.

Vice president and general manager, Mr. Geoffrey Gibbons, said that more would be added as the company annually replaced a third of its fleet. The life-span of a rental cycle is three years, before the bike is sold.

Mr. Gibbons said: "We felt the expansion was our best move to provide Island-wide service.

"We had been interested in purchasing the business for about a year. But we only recently went into negotiations which lasted about a month.

" We want to be on the crest of the wave of new business for the year. We will be able to do a lot of retail that is not currently available for customers in the West End.'' Oleander will expand the showroom space and the retail side of business at the Southampton outlet.

Oleander was started some 30 years ago in Buena Vista guest house by president and majority shareholder, Mr. John Leseur.

RIDE ON -- Mr. Ray Madeiros (centre right) hands over the keys of his Southampton livery cycle office to Oleander Cycles Ltd. general manager and vice president, Mr. Geoffrey W. Gibbons. Also pictured are Mr. Michael Leseur (left) and store manager Michael Davis.