Bosses of Barrow's tourist accommodation and visitor attractions are being brought together on Thursday, to plan the best way of bringing extra tourists to the area.
A total of 700 jobs are going at the Barrow shipyards
Money is being made available to develop the tourism industry, but there are also concerns that the current round of shipyard job losses could put some hotels out of business.
Barrow Council has won funds through the government's urban regeneration programme to promote the area.
The first step is Thursday's seminar, bringing together the owners and managers of hotels and attractions in the borough.
They will discuss the need to work together - and look at new opportunities like the proposed powerboat championships in Barrow docks.
Consultants are also being brought in to develop a marketing strategy.
But Barrow Council has also warned that the 700 job losses at the shipyard could have a disastrous knock-on effect on the local hotel industry - officials say this redoubles the need to bring in new visitors.
BAE Systems has announced it is laying off 700 workers and moving the programme to build Type 45 Destroyers from the Barrow shipyard to the Clyde.