Former oil and gas executive Bob McAlpine and his family are behind the investment, which is expected to be complete by October this year.
The Dalriada Luxury Lodges development comprises eight self-catering lodges, set above Stonehaven Golf Course and overlooking the bay.
Mr. McAlpine said: ‘ We think there is demand for very high quality, self-catering accommodation in the north east of Scotland and the family will invest well over �1 million to bring this development to life. Four full time jobs will be created in our company this year and more to follow next year. We will support local suppliers where ever possible and expect to bring visitors and tourists to the area who otherwise may have gone to alternative regions.
“We have received strong support and encouragement from a range of organisations but particularly Aberdeenshire Council and Visit Scotland.’
Alan Buchan Contractors, based at Brathens, near Banchory, aims to have the first phase of an eight-lodge project done by October.
The McAlpine’s were joined at the ground breaking event by Stewart Spence of the Marcliffe and Jo Robinson, the Aberdeen, Aberdeenshire & Moray Speyside Regional Director of VisitScotland. Jo said: “I was thrilled about taking part in the ground-breaking event at what I believe will be a fantastic addition to Aberdeenshire’s luxury self-catering offering. Delivering a quality experience that meets, and exceeds, visitor expectations is crucial in making Aberdeenshire a must-visit, must-return destination.
“Tourism is a key factor in ensuring communities thrive across Aberdeen and Aberdeenshire, fuelling job opportunities and business growth. It is leading economic transformation in Aberdeen and Aberdeenshire through redevelopment and expansion of existing products, innovation and bringing new opportunities to the visitor economy.”