Appearing on behalf of the York-based Skelwith Group, who own the 84-acre site, Vaughan joined directors of the company, senior members of contractors Wates Construction, councillors and local businesses for a guided tour.
Speaking exclusively to the Whitby Gazette, Vaughan – who is also a director of the company – said: "It's a good development, it's what the area needs. I've been to Scarborough for many years playing cricket but I didn't even realise Sandsend was here.
"It's quite nice to go to a place you've never been to and realise how nice and picturesque it is."
Talking about the luxury retreat, Vaughan added: "I remember a year ago when we were hoping Wates were going to come on board.
"It's great to see the work that's been done and the progress made. I can't wait to come back in a year's time and see the finished article."
The ex-Yorkshire skipper, who guided England to Ashes glory against Australia in 2005, visited Trenchers restaurant in Whitby recently along with the town's current Yorkshire star Adam Lyth.
Skelwith Group Head of Communications Ben Pilgrim confirmed work was progressing on schedule for it's opening date of June 2011.
He added: "We're expecting it to be a big wedding venue here and we know there have been celebrities staying nearby like Elle MacPherson."
When finished, the complex, off Sandsend Road, which also boasts 11 holiday cottages, will include a 44-room five star hotel, a fine-dining restaurant and a 6,000-foot state-of-the-art spa.
Seven months into the development, much of the skeletal brickwork is already in place amid a ton of scaffolding at the local beauty spot.
It will be a sister hotel to the impressive £100 million Flaxby Country Club between York and Harrogate. Raithwaite was originally owned by shipping tycoon William Headlam, who bequeathed the site to his Swiss nurse Trudi Tanner in 1991.
She gave up the running of the estate over two years ago when she retired to a nearby house.