A new chapter in tourism begins next week as the Tourism Authority lays the foundation of a new approach to hospitality investment.

The Authority, an independent, non-government entity engaged to revive Bermuda tourism, is to be powered by four divisions: tourism investment, product and experience, sales and marketing and corporate support functions.

Banker Roland Andy Burrows has been appointed chief investment officer, with responsibilities related to future investment in tourism infrastructure. He takes up his new responsibilities on Tuesday.

A statement from the Bermuda Tourism Authority said he will be involved in redefining the future for investment in the tourism industry.

“We’re thrilled to have a talented and well-respected Bermudian lead this division which, while new to Bermuda, will be the cornerstone of our modern approach to hospitality investment.” said BTA Chairman, David Dodwell. “Investment equates to jobs and a stronger economy, and it’s a crucial mandate of the BTA.”

After 25 years in financial services, business strategy and development, Mr Burrows moves over from HSBC Bermuda, where he was Head of Commercial Banking.

At the bank he led, initiated and implemented compliance, operational and credit risk and regulatory policies for Corporate Banking, Business Banking and Real Estate Banking.

In his new role, he will be responsible for identifying, developing and cultivating investment across the hospitality industry, from hotels and attractions, to infrastructure and tourism related businesses.

Mr Burrows will assist in the formulation of development and investment incentives specific to Bermuda and inform global investors in key areas such as taxation, work force, immigration, customs, infrastructure, development permits, and sustainability.

In addition, he’ll lead international capital raising efforts to attract investment to Bermuda tourism by identifying, qualifying and establishing new sources of equity and debt financing investors on an ongoing basis.

“The importance of this position can’t be overstated,” said Bill Hanbury, BTA CEO.

“Andy will continue to develop and monitor the ‘red carpet’ and ‘one-stop shop’ approach to attracting global hospitality and leisure investors and developers to Bermuda.

“And, whether it’s international or local development, he’ll move investment projects through government channels and approvals.”

On the local side, Mr Burrows will develop and drive financial and growth strategies for existing businesses and properties, including renovations and asset repositioning projects such as hotel room capital expenditures. This extends to strategies designed to stimulate small and medium businesses related to tourism.

Mr Burrows has managed balance sheets up to $12 billion while generating revenues of up to $100 million at HSBC.

He holds a Bachelors of Business Administration Degree in Accounting from Georgia State University, Atlanta, Georgia.