The implosion of the former Club Med signals the "renaissance" of Bermuda's tourism market, according to Premier Ewart Brown.

Dr. Brown was speaking after he pushed one of the two buttons that set off a series of blasts that brought down the former hotel, which has lain derelict for more than 20 years.

The site will now have to be cleared, which could take six to eight week before developer Carl Bazarian, president of Bazarian International, begins building a multi-million dollar Park Hyatt complex on the property.

Yesterday, after the demolition of Club Med, Dr. Brown said the Island was now ready to step into a successful future with its tourism market.

He said: "What it means more than anything is that it's explosive evidence that we mean business about the renaissance of tourism and Bermuda.

"Of course with the building now down, Bazarian International will begin to reveal their plans, then next month we come to Parliament to pass the Park Hyatt Bill. Then we move on and we get another property on the way.

"We are just keeping our fingers crossed. Without new hotels, even with a spiced-up Bermuda product, we cannot compete effectively.

"We are fortunate to be this close to the US and if our product can be sufficiently improved we should not be hurt there."

The new complex proposed for the Club Med site includes a 200-room hotel as well as 140 condos, some of which will be available for hotel guests, and 40 fractional ownership units.

It's a $294 million project that will include swimming pools, tennis courts, five restaurants, bars and an 18-hole golf course designed by champion golfer Nick Faldo.

In March, Mr. Bazarian also announced that he had entered a deal with Park Hyatt hotel chain as the operator and brand of the development.

Watching his investment closely yesterday, Mr. Bazarian said his company was also interested in enhancing Fort Albert and Fort Victoria, which he said were also part of the property.

Before the implosion yesterday he said: "It's very symbolic and very exciting. We're going into the low rise development that's a little different from the 1970s.

"We'll definitely have it built by 2012. It's going to be spectacular. We are going to keep to the culture of the UN Heritage concept. We want to use the forts and enhance them."

Before that can take place, however, David Durham, of Building Blocks Construction, will have to truck away three to four thousand tons of debris.

On the site of the imploded Club Med he said they would try to recycle as many materials as possible, but that the work could take between six to eight weeks.

The debris that cannot be recycled will be dumped at the Frederick L. Wade Airport dump.

"In this place you have to unbuild it as it was built. Government paid for it (the demolition and debris trucking).

"We are going to get some lunch and then work," said Mr. Durham.