Monday, October 5, 2009

Government to complete Cacique Hotel!

An agreement has been reached between the GOG and the owner of the uncompleted Cacique Hotel. All outstanding issues have been resolved and the agreement would result in the government completing the construction of the facility by this year end. Upon completion it will be up for sale and the proceeds will be used to offset all debts incurred.

The government had, back in 2007, advanced $30 million to the proprietors of the incomplete Cacique Palace and Banqueting Halls. It was also reported that one of the local banks had advertised the property for sale.

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