With 60 percent of the fractional ownership units at the Newstead Belmont Hills Golf Resort and Spa resort already sold, developer Kevin Petty felt a tremendous sense of accomplishment when he opened the Paget resort on Friday.

The boutique hotel offers guests access to an 18-hole golf course, world class spa, two tennis courts, swimming pools, two restaurants, room service, concierge service, housekeeping service and bell service.

It also allows people the option of purchasing a fractional ownership which entitles them to eight weeks in a cottage every year, two weeks per season.

To take a peak inside the rooms of the resort and amenities, see it on the web at www.theroyalgazette.bm.

"About seven years ago I purchased Belmont Hills and developed that but we felt we needed something on the water a little closer to Hamilton, so three years later I started this project," Mr. Petty said.

"Fractional ownership was a new thing then to Bermuda, not to the world, but to Bermuda. Tucker's Point and myself introduced it.

"It is a great way to take repeat visitors who love Bermuda and keep coming back and want to stay for a longer period. Bermuda has always had a large number of repeat visitors so it is the perfect fit. And we have worked hard to maintain the old world charm.

"It is an incredible feeling opening today. It has been a long slog but we've built an incredible hotel and staff, and it is a great sense of accomplishment."

Mr. Petty added he believed the new hotel — the first built on the Island in more than 30 years — would be a turning point for the Island: "I do believe this is a tourism renaissance, this is the start of something. If you dare to dream and have conviction, with the help of many, you can build a new fresh, exciting place like this."

Premier Ewart Brown, who is also the Minister of Tourism, echoed Mr. Petty's comments: "Kevin Petty and his team have done a masterful job in changing this property into a gem. Bermuda deserves properties like this, we have so much to offer. Our hotel rooms used to be closed in but Kevin has used glass walls so you can see the Island's natural beauty.

"I am also thankful that it helps those who are less optimistic about the future of hospitality in Bermuda. This helps those people who need to touch concrete in order to believe. This took 36 months and that is how long it takes when you want to do it right.

"This is the start of the platinum period for tourism."

And Mr. Petty's good friend Brian O'Hara, CEO of XL Capital, also had words of encouragement. Mr. Petty's company built XL's headquarters in Bermudiana Road.

"This beautiful new hotel will be a magnet to attract upscale visitors," Mr. O'Hara said. "In fact at the end of next month, I am hosting the Geneva Association, which consists of the 60 top chairman and CEOs of the world's largest reinsurance and insurance companies.

"They will be staying here and will be ferried over to XL House every day and I am thankful for Kevin for providing these two world-class venues for this world-class group."