through an international barter system will be unveiled this month.

Mr. Peter Tucker, managing director of Caribbean Trade Exchange (CTEX) will be in Bermuda to explain how trading off empty hotel rooms for goods and services can boost the holiday industry in Bermuda.

He said: "We will offer hoteliers an opportunity to boost room occupancies while lowering operating costs.'' The system works by hotels paying for items which are normally imported -- like kitchen and restaurant equipment, maintenance equipment and supplies and furniture -- with the use of hotel rooms.

CTEX, which has just started after a 12-month research and development programme, claims hotels who enter a membership agreement will be able to market rooms to a world-wide network of more than 500 trade exchanges and corporate barter companies in North America, Europe and Asia.

Mr. Tucker said that during the pilot programme, CTEX sourced video production and advertising, refrigeration equipment, and tableware for clients.

He added: "As volume grows, CTEX will be able to consolidate purchases to gain competitive pricing for its hotel members.'' Mr. Tucker said that since payment was principally in the form of rooms, with a small cash component, neither the hotel's cash flow or the host country's foreign currency reserves are depleted.

He added: "CTEX will increase a country's foreign reserves because cash remains in the country while hotel rooms are exchanged for hard imported goods.'' Mr. Tucker will be on the Island from Christmas Eve to January 13 next year to explain the CTEX scheme to Bermudian hoteliers.