The loss of Stanhope Beach Resort on P.E.I.'s North Shore is being called a major blow to the Island's tourism industry.

The fire Tuesday burned the main lodge and several other buildings to the ground. The 120-room resort first began operating as a hotel in the 1860s.

Elaine Thomson, president of the P.E.I. Tourism Industry Association, called the fire a huge loss.

"It's certainly an iconic property, certainly in the beaches area.

"[I] hope they'll be an opportunity for them to rebuild but it's definitely going to be a big loss for the area , for sure, because I know they cater to a awful lot of meetings, conventions, conferences. Just to be able to relocate some of those events will be challenging."

Thomson also expressed concern for the loss of jobs in the area.

Tourism Minister Robert Henderson said he hopes everyone will be able to find work.

"[Stanhope Beach Resort] is a major accommodation venue here on Prince Edward Island," said Henderson.

"I'm hopeful that other accommodaters will out there to try to help in any way to they can to make sure that those who have made bookings can find other sites that will be just as accommodating."

Provincial fire marshal Dave Rossiter is continuing his investigation into the cause of the fire. Rossiter said it will likely take a few days.