15 new hotels to come on stream in next 4 years – Pres Ali

…says Govt will continue to invest in human resources

Within the next four years, the Government is expecting an influx of new investments in the hospitality sector as the economy expands, whereby some 15 hotels will be constructed, bringing thousands of rooms on stream.
President Irfaan Ali made this disclosure during the XII Annual Consultation with Caribbean Governors of the Inter-American Development Bank (IDB) on Saturday at the Marriott Hotel, Kingston, Georgetown.
“We are building 10 new hotels in the country. We will need a lot of human resources that we don’t have in the hospitality sector. We foresee that in the next four years, we will have at least 14 or 15 new hotels. And that is outside of the eco-tourism facilities that we’re going to push for investment,” the Head of State noted.
In the same breath, Ali referred to Guyana’s status as an eco-tourism destination and the potential to develop this untapped opportunity to create a high-value service sector.
“We have one of the best eco-tourism products, but we have not been able to invest in this product for lack of infrastructure, lack of marketing. Today, we have the opportunity to invest in this product. We’re investing heavily in our eco-tourism products…This is an area which is sustainable, resilient, high value and can bring tremendous opportunities for investors within the Region and investors here in Guyana,” he contended.

With such facilities coming on stream, there is a burning need for human resources to fill various capacities in the hospitality industry. On this note, the President added that the Government would continue to invest in its human resources not only to fill the gap in the hospitality sector but also in the oil and gas sector.
Earlier this month, Prime Minister, Retired Brigadier Mark Phillips turned the sod to symbolically commence the construction of the over US$7 million Hospitality and Tourism Training Institute (HTTI).
Currently, tourism is Guyana’s fourth largest foreign exchange earner, accounting for 2.3 per cent of Gross Domestic Product (GDP).  It is estimated that by 2030, the sector will employ some 50,000 persons locally.
The HTTI project was awarded to Kares Engineering Inc, and has a completion date of January 21, 2026.
Guyana recorded its highest number of tourist arrivals in 2023, as some 319,000 persons visited the country. This figure is significant as it represents a 270 per cent increase in visitor arrivals since 2020.
More than 21,000 visitors arrived through the Moleson Port in Region Six last year.
The month of September 2023 saw the most arrivals in the country as the Caribbean Premier League (CPL) Cricket Carnival was hosted. Last year, 319,056 visitor arrivals spent an estimated US$338 million. This figure is based on a Guyana Office for Investment (GO-Invest) estimate that the average visitor spends US$1060.
In keeping with Guyana’s push to increase the number of hotel rooms that can accommodate visitors to the country, the People’s Progressive Party/Civic (PPP/C) has been intent on creating an enabling environment for new hotels to add some 2000 hotel rooms to the local stock over the coming years.

To this end, the Government, through GO-Invest, launched an Expression of Interest (EoI) in 2021 for hotel developers. Consequently, Guyana is to see the construction of these hotels over the next few years, including globally-recognised hotel brands, such as Marriott, Hyatt, Hilton, Radisson and Best Western.
Currently, works are ongoing on the US$20 million Courtyard by Marriott Hotel at Timehri, East Bank Demerara. The 140-room hotel, which is located close to the Cheddi Jagan International Airport (CJIA), is expected to be opened in the first quarter of 2024.
A Memorandum of Understanding (MoU) was also signed for a US$90 million Hilton Hotel to be constructed at McDoom, Greater Georgetown. The 289-room hotel would be constructed in the already busy area, which is home to many businesses such as Gafoors, Pritipaul Singh Investment, Guyana Shore Base Inc, Farm Supplies, and Schlumberger.
Moreover, works are underway on the US$32.2 million Hyatt Place Hotel at Providence, East Bank Demerara. The 125-room four-star hotel, located along Red Road in Providence, is also slated to be completed next year.
The US$15 million boutique-style Aiden by Best Western Hotel is located at Robb and Oronoque Streets in Georgetown and is expected to be opened in March 2024. The 150-room hotel will span nine floors of a 74,000-square-foot modern building with an executive bar and lounge, executive conference rooms, private dining rooms, and a state-of-the-art gym, bar, and restaurant.
In July last year, construction work commenced on a Blue Ridge Hotel at Liliendaal, Greater Georgetown. When completed in 2024, this US$45 million facility will add a further 200 rooms to the 2000 hotel rooms the Government anticipates will be created over the next few years. (G12)