The recently announced purchase of Newstead and Belmont Hills together with the promise of upgrades was praised by MPs today.

Minister of Tourism Development and Transport Shawn Crockwell said the purchase of the properties by Larry Doyle was “great news”, while Shadow Tourism Minister Zane DeSilva said the announcement could bring hope to the tourism and construction industries.

Mr Doyle, a New York-based businessman, already owns the site of the former Lantana resort near Somerset Bridge. He said on Monday his priority was to get Newstead and Belmont back on track before he tackles ambitious plans for a reborn Lantana.

He declined to discuss the price of the twin properties — but it is understood it could be as high as $18 million.

In a brief statement, Mr Crockwell said: “This is great news. These are two great properties and will be significant as we continue to revitalise Bermuda tourism.”

He applauded plans to both improve the property and “aggressively market” the fractional units already in place, and thanked former owner Kevin Petty for his contributions in developing the sites.

“These properties enhanced Bermuda’s tourism product and I am sure that parting with them is difficult for him,” Mr Crockwell said.

Mr DeSilva, meanwhile, said: “The announcement of new ownership at Newstead and Belmont Hills Golf Course along with planned upgrades are good news for Bermuda and good news for Bermudians.

“The proposed upgrades should translate into work for Bermudian construction companies and Bermudian construction workers and that is sure to give a bit of hope to that industry.”

The Shadow Minister said that much work must still be done to revitalise the Island’s tourism product.

“Ownership that is committed to investing in their product, adding to our stock of tourist beds and modernising their properties represents the way forward for Bermuda and we look forward to the opportunities that should open up for Bermudians shortly,” he said.