The kitchens and restaurants at The Reefs are open for business after $3 million was spent on an extreme makeover.

Owner David Dodwell said the redevelopment is part of the preparations underway for the opening of its private members' fractional ownership which will be called The Reefs Club.

The 19 two- and three-bedroom private residences are expected to be completed by the end of May next year.

Despite a weak US dollar and falling air arrivals from the US, Mr. Dodwell said he was optimistic about the investment and new club: "Considering the current economy sales are going well. And I believe once they are actually completed and people can physically see all of the amenities and the rooms, sales will do well.

"Plus we have hired a company in the UK to sell our fractional ownerships over there. Previously we have not focused as much on the UK market but with the strong pound we have decided to aggressively market it to clients there.

"There is also a belief that once the economy recovers, the sales of second homes will not return to the levels we have seen previously. People will be more cautious about spending $2 million on a home they spend a few weeks in. Industry analysts are now predicting that private members' clubs will become more popular and be able to fill that gap in the market. So I am optimistic."

Unlike two other cost-sharing models — timeshares and destination clubs — fractional ownership gives members an equity stake in the property, which can be sold or transferred like wholly owned real estate.

The New York Times recently reported that while the second-home market has dropped off, sales for private residence clubs grew by 12 percent in 2007.

Mr. Dodwell said: "Our makeover of the restaurants and kitchen were in anticipation of the completion of the private members' club, which will add an additional 93 people to the property if filled to capacity.

"We have expanded and completely redeveloped the two dinning areas and the kitchen was basically gutted."

The kitchens were designed by William Caruso and contain more than $1 million in state-of-the-art appliances.

The two redesigned restaurants, Ocean Echo and Royston's, were designed by Vision Design, who have done Rosewood's Mansion on Turtle Creek.

Ocean Echo, located in the newly-renovated south side of the main clubhouse, has a window-wall providing nearly 180-degree views of the horizon from its perch high on the cliffs.

Mr. Dodwell said it was designed to be Bermuda's most serene fine dining experience, and features colours and materials chosen to enhance the traditional Bermudian architecture and its menu will include traditional Bermuda delicacies.

Royston's, on the north side of the clubhouse, was designed to feel like an intimate supper club. One of its unique aspects is that diners will be able to view the chefs in action preparing fare such as Gosling soaked pork chops and Steak Wellington while they are seated.

It also includes a wine room with more than 1,200 bottles, which can be separated from the main dinning room if desired.

The other restaurant at the Reefs, its beachside venue Coconuts, continued to do well, Mr. Dodwell said.