Work on the Vaimaanga Hotel project in the Cook Islands is to resume on the 24th February after a formal ceremony with three thousand people expected to attend.
The hotel's construction was put on hold 16 years ago after the Italian developers went bankrupt, and since then many other potential developers have failed to see the project through.
The hotel has been renamed the Captain Cook Hilton.
Takitumu's paramount chief, Pa Tepareu TeAriki Upokotini, says she's relieved that the project can be finally completed.
"I'm happy, I'm pleased that things have moved forward. It may have delayed for some time but there were obstacles in the way, so yeah, I'm happy."
Pa Ariki says work will resume immediately after the ceremony.