A new hotel is to open in January 2017 on the site of the former Pink Beach Club.

Known as the Loren, the development was toured yesterday by Michael Dunkley, with home affairs minister Michael Fahy and senator Jeff Baron.

Senator Fahy said the construction had finished for the main hotel buildings, where doors and windows have been installed.

“We could also see that significant progress has been made on the beach club with work on the cabanas and pool well under way,” the minister said.

“Additionally, the first condo is now fully finished and furnished, displaying the contemporary, clean design concept that will be continued throughout the hotel.”

Sylvan Richards, the MP for that area in Smith’s, said the hotel’s opening next year would stimulate the economy and provide jobs for “area residents who will now have a first-class hotel development and restaurant in their backyard”.

The Premier toured the development with its owner, Stephen King, who is putting up the new resort with Sardis Developments Ltd.

Calling himself encouraged by the progress, Mr Dunkley thanked the developer for his “unwavering commitment” by investing in Bermuda and using local expertise.

Mr King said he hoped for the resort to be running at full capacity by the start of the America’s Cup in 2017.

“It’s hard to imagine that only two years ago we had just bought this property, and when you look at what has occurred here in that time on the site, it really is a tremendous achievement,” Mr King said.

“What gives us confidence is that we are at the stage where we are ready for the finishing touches to go in. The tiling will start soon, and interior painting has already begun and the furniture has been ordered.

“The one thing I am most looking forward to is the landscaping — putting the soil down,” he said.

“We have tried to preserve the endemic plants on the site as much as possible and maintain the natural coastline. The hotel is, aesthetically, quite a non-invasive structure as the ‘back of house’ is all underground.”