next week with the loss of up to 60 jobs.

And the spokesman for the Lantana Colony Club blamed financial problems and low occupancy for the decision to shut the cottage colony after 40 years in business.

The Somerset cottage colony's general manager Adam Leseur said: "The decision to discontinue hotel operations became necessary after several attempts to improve the financial performance of the operation had failed to produce satisfactory results.'' But he added he hoped an overseas investor could be found who was willing to pump cash into the cottage colony and re-open it.

And he said: "I would think that somebody looking at Lantana would find it very attractive.'' He denied TV claims that a split between the Leseur and Young families, who jointly own the 120-bed operation, was a contributory factor in the decision to close.

Shutdown deals jobs blow Mr. Leseur also declined to blame any specific cause for the decline in tourism on the Island.

He said: "I don't want to point the finger at the Ministry of Tourism and say `it's their fault' and say `we're doing this today because you didn't do your job.' Mr. Leseur added: "Our resources are such that it does not allow us to compete in the current environment.

"The massive amount of resources one needs in order to compete in Bermuda's tourism industry is overwhelming and we simply don't have these resources available to us any more.'' And he said it had become increasingly difficult for any small operators to compete with multi-national chains with enough clout to set the tourism agenda.

Mr. Leseur said: "It makes it very difficult as a family-owned business to compete with the human and financial resources these people have.'' Mr. Leseur said that all employees would get redundancy payments in line with Bermuda Hotel's Collective Bargaining Agreement -- even though Lantana had not signed up with the trade union/employer deal.

He added: "Closing at this time in the season was indeed regrettable -- but it should provide an opportunity for the staff to seek good jobs in their related fields in the industry.'' And he said counselling experts Benedict Associates had been drafted in to assist employees with career advice.

Mr. Leseur added: "Any hotel which selects a Lantana staff member to join their team will be receiving the best of the best.'' Last night Tourism Minister David Dodwell said he was "shocked and saddened'' at the news.

Mr. Dodwell added: "It's very strange to close a hotel in the season -- particularly when we seem to be having a good season.'' He added he was concerned for the future of the staff at the colony -- and pledged Government would do everything it could to help.

Mr. Dodwell said: "I would hope they can be found employment -- the Minister of Home Affairs and Public Safety will be contacting the hotel for a list of employees and their current jobs so they can try and set up a special desk so people can register for available employment.'' Shadow Tourism Minister David Allen echoed Mr. Dodwell's surprise at the peak season closure. He added: "We expect the Government to come to the wicket very fast and help those people. We urge them to set up a hotline to ensure these people find alternative work.'' David Dodwell