A US developer and advisor for the Ariel Sands redevelopment project is “cautiously optimistic” about its progress.

Lou Maroun said work to revive the Devonshire property was “a project in motion” and that movie star Michael Douglas, a part-owner of the site, visited regularly to discuss the plans.

“He comes back and forth very frequently to discuss the development of the project,” Mr Maroun said.

“The thing progresses every week. It’s a project in motion and we won’t know how much progress we’ve made until the final stages, but right now we’re cautiously optimistic.

“I can only give the broadest range on the price — right now we’re only just looking at designs.” Mr Maroun added that the developers did not yet know when the project would be finished.

Mr Douglas posted a photo of himself at the property to Facebook on Monday. The caption read: “In Bermuda, working on building my family’s new hotel at Ariel Sands. It is going to be great.”

The actor, son of Bermudian Diana Dill, co-owns the property with members of the Dill family.

He and his actress wife Catherine Zeta-Jones lived in Bermuda for several years.

Ariel Sands Beach Club opened in 1954 but closed in 2008 and the land has been vacant ever since.

The photo of Mr Douglas at the site this week has attracted more than 51,000 likes and been shared 1,700 times.