15 new accommodation businesses have expressed a desire to set up on the Island since the start of the year.
That's according to the Department of Economic Development which says it's positive news for the tourism economy.
Since 2009 there has been a 21 per cent boost in the number of four and five star bedspaces.
The news follows the closure of the Mount Murray Hotel and Country Club complex last week after 20 years.
Minister Laurence Skelly says although unfortunate the closure doesn't reflect the general trend of growth:
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