Developers behind the proposed St Regis Hotel have moved a step closer to breaking ground at the Hamilton site.An agreement has been signed with “the international financial group responsible for advancing the monies needed for construction of the new luxury property”, Tourism Minister Wayne Furbert announced today.The hotel is slated for the Queen Elizabeth Park parking lot.Mr Furbert described the signing as a “giant leap forward” but refused to state the terms which, he said, “must remain confidential”.“This agreement is another indication of the continuing success of the Government and my Ministry's efforts to drive new investment in the hospitality sector,” Mr Furbert said. “As we continue to build our economic recovery, we are doubly pleased that the new hotel will open up the prospect of an estimated 600 new jobs in its construction and subsequent management.”He continued: “We have long felt the new hotel, incorporating so many modern features that are vital to today's business community, will usher in a new age of investment in Bermuda's hospitality sector. It sends a strong message to the international investment community that Bermuda is serious about reaching out to create global partnerships and that we are, in all areas, absolutely open for business.”