Readers of "Travel and Leisure'' magazine have voted two Island hotels as offering some of the best value for money in the world.

The Reefs and Waterloo House are in the top ten for the Caribbean, Bermuda and the Bahamas in the magazine's survey of best value hotels.

Shadow Tourism Minister David Dodwell had double cause for celebration as two of his properties were rated in the top ten.

The Reefs was listed at number two, narrowly missing the top spot, while his Nisbet Plantation Beach Club in Nevis was ranked tenth.

Waterloo House, one of the Island's oldest hotels, was rated eighth in the survey, which appears in next month's edition of the magazine.

Mr. Dodwell said last night: "I am very excited for the two hotels to have made the grade because it really validates what we are trying to do in giving value for money.

"I've had the Reefs in some surveys, but to have the two of them rank so high in one survey on value is really terrific.

"I am very pleased on behalf of myself and the employees at the hotel because it validates their efforts and what excites me is that it is about value for money.

"You can stay at The Ritz in London and say it was great but it may be $1,000 a night, but value for money is something different.

"It's not just the product, its the service and the staff, and I'm very pleased and its great that people have come away and been very satisfied.'' The Reefs in Southampton, at $206 a night for a winter room, was rated at 75.5 percent, while the Four Seasons resort in Nevis at $675 a night was top, rated at 75.9 percent.

Waterloo House in Hamilton, at $260 a night, was rated eighth with 73.6 percent.

The hotel's owner Claudia Wardman said last night: "Staff at Waterloo House really look after people well.

"They are very caring and very personal and there are people who say they feel they are coming home when they come to bermuda and Waterloo House..

"We've worked hard at giving value for money because we have spent a number of years trying to turn the hotel around.'' TOURISM TOU