Investment guru and business magnate Warren Buffet once commented, “Someone is sitting in the shade today because someone planted a tree a long time ago.”

If one viewed Buffett’s investment observation through a Bermuda tourism-focused lens it could be said that not enough trees were planted for the ‘heat’ that we are experiencing today.

I spoke recently at the Caribbean Hotel and Resort Investment Summit (CHRIS), the Caribbean’s most prominent hotel investment conference.

The audience, comprising of tourism officials, developers, hotel management companies, executives, financial advisors, investors and financiers, listened intently, I believe, as I shared Bermuda’s renewed ‘planting’ efforts.

Before launching into the new initiatives Bermuda was undertaking, I provided historical context to Bermuda’s 30 years of tourism that went from boon to bust as a result of an unacceptable bureaucracy, a dwindling hotel room inventory, a shrinking tourism season, and a shift in attention toward International Business.

Add to that a societal arrogance of past tourism success, a lack of investment in infrastructure, a major hurricane in 2003, and the fallout from 9/11, which all but nailed tourism’s proverbial coffin shut.

Depressed occupancies, depressed revenues and a declining season put us essentially in a death spiral.

Also highlighted in my presentation: two successive Governments, of differing political leanings, and through respective terms, had grappled with this challenge, learning painfully that something radical needed to occur.

Our past reputation for being ‘difficult’ and ‘unwelcoming’ toward business investment was a glaring revelation that could no longer be ignored.

We needed to reboot Bermuda’s profile and tourism economy desperately.

Thus, once a mere ‘observer’ at the 2013 CHRIS conference, our participation in 2014 revealed a fresh regard for Bermuda and our pursuit of tourism investment.

The kick-start came immediately on the heels of the 2013 conference. Comprising of government, industry officials and 14 international experts in investment, consultancy, hotel operations and banking, the Bermuda Hotel Development and Investment summit was held.

At the conclusion of the local summit, and armed with the National Tourism Plan, valuable data obtained from the CHRIS conference and a readiness to shift the paradigm, the Bermuda Tourism Authority (BTA) was established.

Led by industry veteran Bill Hanbury, and a seasoned team of industry professionals, the BTA began work on retooling Bermuda’s tourism industry. Guided by objectives outlined in the National Tourism Plan, the 37 member team, 90% of which are Bermudian, have set about ‘planting’ for the success of Bermuda’s tourism future.

Striking strategic-partnerships to encourage investment in hotel upgrades, streamlining processes for new developments, and offering a ‘RED CARPET STYLE’, ‘ONE-STOP SHOP’ for global hospitality and leisure investors is the key makeover we need.

Our new Chief Investment Officer (CIO), Andy Burrows, will be instrumental in redefining the future for investment in tourism for Bermuda.

He’ll be responsible for identifying, developing and cultivating investment for hotels and attractions, to infrastructure and tourism related businesses.

Bermuda is indeed open for business these days: St George’s is receiving the serious consideration it deserves from a high-calibre, global resort development group; Fairmont Hamilton’s newly renovated Poinciana wing, infinity leisure pool and marina are mostly complete; Pink Beach’s new boutique hotel and residences have been green-lit; and Ariel Sand’s recent redevelopment announcement are bringing Bermuda the crucial investment exposure we need.

Interest in Bermuda is gaining momentum and providing evidence reflected in my CHRIS conference closing remarks that, “Bermuda is back,” in the game of tourism once again.

David Dodwell is the chairman of the Bermuda Tourism Authority