Mr Hodgman said this morning that the development had potential to lead Tasmania on its way to becoming the environmental tourism capital of the world.

The pair are also expected to comment on a Draft Management Plan of Tasmanian Wilderness World Heritage Area (TWWHA).

To be released later today, proposed changes include rezoning the area to include tourism developments, expanding access by water and air and allowing selective logging of specialty species timber.

Pumphouse Point is being touted as a beacon of what could be achieved through the radical plan.

After two decades of planning and construction, including a lavish $9 million upgrade, the retired hydro-electricity hub will this morning finally open its doors in its new carnation: an 18-room boutique accommodation retreat within the state's World Heritage area.

1934: The Hydro Commission starts construction to pump water from Lake St Clair to the Tarraleah power station.

1940: The site is officially opened.

1995: The site is decommissioned and handed to the Parks and Wildlife Service before the Groom government calls for expressions of interest from developers. A 50-year lease with no performance clauses is given to a Sydney-based consortium, Copabay Pty Ltd.

1999: The Bacon government reclaims the site after Copabay accepts a $220,000 package to release the site.

2002: Doherty hotels announces intentions to build a $4.75 million ecotourism resort.

2003: Former Hydro electrician Garry Yost talks up his plans for an $8 million development for the southern edge of Cradle Mountain-Lake St Clair National Park.

2005: Simon Currant announces plans to revamp the site to provide low-number, high-value tourist accommodation.

2007: Mr Currant and associates submit a proposal for the development of Pumphouse Point.

2013-14: The removal of asbestos and construction starts.

2014: The first bookings are taken for the boutique getaway.

2015: An 18-bed wilderness resort is officially opened.