Friday, July 15, 2011

Guyana closer to having a Marriot Hotel

The realisation of the long awaited Marriott Hotel in Guyana is moving one step further as they are on the verge of signing a memorandum of understanding with the lowest bidder. This is according to President Bharrat Jagdeo who was at the time updating the media on the progress of the initiative.

President Bharrat Jagdeo says his government remains committed to realizing the first class branded quality hotel owned by Marriott International. According to the Head of State a memorandum of understanding will be signed with Grenanda-based Zublin Group the lower of the two bidders.

The public private partnership project will transform the hospitality landscape and can be expected to encourage more travel and tourism development for Guyana.

The Government will have one third of the company, one third equity which the investor will have a third equity, it’s a private sector owned project” the President said.

The project will be more an integrated entertainment complex ideally located at the corner of the Atlantic Ocean and the Demerara River with a casino, night club, restaurant, and boardwalk, President Jagdeo has said.

The proposed Georgetown Marriott Hotel will have a significant positive impact on the socio-economic environment primarily through the creation of a number of job opportunities for a wide range of skilled and unskilled workers. The economy will also benefit from increased demand for goods and services during both the construction and operational phases of the project.

The Government has been working with a number of prospective investors to advance the project and has made considerable progress to advance the development of the hotel.

Zublin Greneda Limited has been awarded the contract for the construction of the hotel, which they deemed a very attractive offer. Government says the project is an attractive one for the investment based on the location which allows an integrated entertainment complex overlooking the ocean and river.

All fiscal incentives permitted by law and the combination of a first class Marriott Hotel to be operated by Marriott with a separately operated casino to be run by a third party operator. The hotel will comprise some 150 rooms.

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