The hotel which will be known as the AC Marriott is being built at a cost of US$75million with additional costs to follow.
According to the NICIL statement, the new hotel is expected to provide an initial 400 plus jobs during construction and some 200 permanent jobs upon completion.
The hotel will have 150 rooms and will be constructed over four floors. The Triniyuana Investment company is behind the project.
Facilities will include conference rooms, offices and some state-of-the-art living facilities, which would be integrated into the hotel complex.
Finance Minister Winston Jordan has welcomed the investment. In an invited comment, Mr. Jordan said the investment “is another indication of the Government’s commitment to diversify the economy and to support the rapidly developing tourism sector consistent with the Government’s policy of not depending on oil. I am particularly pleased that this investment is sited outside of Georgetown in the emerging of business commerce and services in Ogle”.
He added that the investment also shows that the investment climate that the government has been cultivating has attracted the attention of foreign investors and is paying off.
The CEO of the Triniyuana Investment company was quoted as saying that the move to build the hotel is the culmination of negotiations that NICIL had with his company and the result is another major brand name hotel coming to Guyana.
The CEO John Aboud said that he is excited over the fact that the project will finally be rolled out, stressing that the work of NICIL was significant in ensuring that the hotel project becomes a reality.
“The discussions were very lengthy and at times challenging but ultimately we understood as they wanted the best deal for Guyana and that is fine as every agency and or business wants what’s best for them,” he said.
He disclosed that he was eyeing Guyana for a number of years but about three years ago felt confident enough to move ahead with the project. He pointed out that while they don’t have major personnel on the ground as yet, he foresees this being a reality in early March, noting that they anticipate construction commencing in a few months.
He said that the first-class hotel will cater for both business and tourism related visitors. He revealed that the first cost would be to the tune of US$75 million, stressing that another significant amount of monies is expected to be pump into the hotel as they seek to take it to the acceptable international standard.
Meanwhile, Chief Executive Officer acting of NICIL Colvin Heath-London said his team had engaged Triniyuana and is satisfied that their investment is ideal and timely.
“We are very pleased with the investment that Mr. Aboud and team would be bringing to Guyana and is very confident that the government and people of Guyana will certainly benefit from this major hotel investment,” Heath-London stressed.
The construction of the hotel is expected to take some 30 months.