Trinuyana Investments Incorporated of Guyana recently signed an Agreement with the National Industrial and Commercial Investments Limited (NICIL) to develop a world class, select service, internationally branded Hotel – AC Marriott Hotel on the Ogle Airstrip Road.
A sod-turning ceremony will be held tomorrow.
As of June 8, 2011, AC Hotels by Marriott operates as a subsidiary of Marriott International, Inc.
A release from NICIL today said that the US$75m project is “already underway with the commencement of Geotechnical works and the hotel will be completed in thirty (30) months. The construction of the hotel will bring additional rooms to add to the national hotel stock, which will (help) stimulate the local economy through additional employment opportunities and business development”.
This project will likely raise more questions about the authority of the caretaker administration just days before general elections.
It is also unclear whether environmental and social impact studies were done and the relevant permits issued.
The NICIL press release said that the rooms are expected to augment the Government’s efforts to develop the tourism sector and expand the economy. It added that Trinuyana Investments Incorporated will target business travelers to Guyana, especially those linked to Guyana’s nascent ‘Oil and Gas’ sector and the creation of the ExxonMobil (Guyana) Headquarters, which will be situated in proximity to the Eugene F. Correia International Airport.
The release added that Trinuyana Investments Incorporated principals are “confident that the proposed development will boost the existing architectural and landscape ambience of the Ogle area while providing a sustainable design approach, ensuring that the space remains a unique, iconic, Caribbean-Wide destination”.
NICIL this afternoon said that Trinidadian John Aboud is the investor and the project is expected to provide an initial 400-plus jobs during construction and some 200 permanent jobs upon completion.
NICIL’s Privatization Specialist (acting) Racheal Henry said in another press release that the hotel is expected to have some 150 rooms and will be constructed over four floors. She said that her agency and the CEO of Triniyuana Investment Inc (Guyana and Trinidad), John Aboud held lengthy discussions before arriving at the decision to construct the hotel. Henry said among the planned facilities are offices and some state-of-the-art living facilities which would be integrated into the hotel complex.
“This is the culmination of negotiations that NICIL had with this company and the result is a major brand name hotel coming to Guyana so that all can benefit from it as it certainly will boost our tourism and ultimately our country’s revenues,” Henry said
Aboud said in the release 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.
He said that he had been 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.
NICIL said that Aboud who heads a major investment company in Trinidad and Tobago saw numerous opportunities here.
“After visiting here a few times and seeing the numerous opportunities that exists, I decided to invest in buying some land as I see that there is a need for such investment to further propel Guyana’s tourism,” Aboud said in the release.
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 pumped into the hotel.
Aboud further said that the hotel which will contain 150 rooms is a five-star facility, noting that the new brand is one that is fresh and is the latest being managed by Marriott.
Chief Executive Officer acting of NICIL, Colvin Heath-London congratulated Aboud and team, noting that the people can expect NICIL pursuing a number of opportunities that will yield significant revenues and benefits for the country. He stressed that his team had engaged Triniyuana and is satisfied that their investment is ideal and most importantly, 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 said.