A landmark Caribbean hotel is set to undergo a major transformation.

Rosewood Little Dix Bay on Virgin Gorda in the British Virgin Islands will be launching the most substantial renovation of the property since it was founded by Laurence Rockefeller more than half a century ago.

The property will begin the renovation on May 1, 2016 and the hotel will be closing for approximately 18 months.

“This renovation is a testament to Rosewood Little Dix Bay’s commitment to providing unmatched luxury accommodations, the highest level of service, and the modern amenities that appeal to today’s luxury global travelers,” said Edward Linsley, managing director of Rosewood Little Dix Bay. “While the decision to close Rosewood Little Dix Bay was not easy, we determined that we would not be able to deliver the experience our guests deserve during a renovation of this caliber.  Our goal is to expedite the process so that our associates and guests can return to our island paradise as quickly as possible, which will be better than ever when it reopens.”

New York City-based Meyers Davis Studio will be leading the renovation and overseeing the overall design concept.

Miami-based OBMI will be managing teh new structure of the resort’s Beach Grill and the remodel of the resort’s rooms and suites.

The restoration project is slated for completion in the end of 2017, the property said.

As for the property’s current employees, the company said its associates would be “welcomed back to the resort to interview for available positions.”

The move will impact nearly 300 staff members, a development that BVI Premier Orlando Smith said would impact the entire territory.

“I am having discussions with the company on the way forward,” he said.

“Little Dix Bay has been a fine partner with this Government of the Virgin Islands over the years, and I am hopeful that this relationship will continue to grow,” the Premier said.