AHI scraps plan for constructing casino at Marriott

Atlantic Hotels Incorporated (AHI), the Government-owned company managing Guyana’s Marriott hotel, has reportedly scrapped its previous plans to construct a casino at the hotel, despite the previous rationale that this would make the hotel financially viable.

This was confirmed by this publication in a brief interview with the Chief Executive Officer (CEO) of the National Industrial and Commercial Investments Limited (NICIL), Colvin Heath-London.
“The entity has changed its focus (and) business strategy to providing more rooms and meeting spaces,” Heath-London said in response to questions on the issue. “The demands for rooms are very high”.
While he said that there is some private sector interest in purchasing the hotel, Heath-London noted that there is no sale on the table. Asked about the financial health of the hotel, he noted that it is doing well.
Atlantic Hotels Inc had previously faced several setbacks regarding the entertainment complex and casino. In 2017, an advertisement by the company stated that it was “interested to receive EoIs (Expressions of Interest) from either persons or companies, either individually or as part of a joint venture/consortium”.
AHI had said preference would be given to submissions by applicants who are established in the gaming and entertainment industry. The tender itself was eventually scrapped under dubious circumstances involving a rival casino and a Government minister.
Director-General of the Ministry of the Presidency, Joseph Harmon had indicated last year that consideration is being made for other potential projects at the hotel which can be undertaken. While a final decision is yet to be made, he is awaiting a statement.
“When the hotel was first conceived and built, it was built with that possibility in mind. The entertainment complex, which the casino was a part of, was that possibility. My understanding is that the hotel itself and Marriott International are having a fresh look to see if that is the best use that can be put to that space,” Harmon had told the media.
It was only days ago that NICIL sold over two acres of prime lands that were owned by the Guyana Sugar Corporation (GuySuCo) have been sold for less than $70 million to a Trinidad-based company that will be constructing a new AC Marriott Hotel in Guyana.
Since the announcement of the US$75 million deal, there have been many questions raised about the project, details of which were unknown. However, at the sod-turning ceremony for the construction of the hotel at Plantation Ogle (past the Eugene F Correia International Airport), East Coast Demerara, on Thursday, officials sought to defend the project but were not able to offer clarity on pertinent aspects of the deal.
Privatisation Specialist at NICIL, Racheal Henry, told reporters that the GuySuCo lands were vested to NICIL in 2017. Some 2.61 acres were sold to Triniyuana Investment Inc last year at the cost of $26 million per acre. According to Henry, the land was valued by Government evaluators.
The use of the GuySuCo lands for this infrastructure project comes on the heels of the incumbent APNU/AFC Administration promising displaced sugar workers leased lands for agricultural use since most were unable to find employment.
According to the Trinidadian businessman, discussions for the project with NICIL started in March 2019. However, he noted that the local company, Triniyuana Investment Inc, was not incorporated until July 2019, after they were guaranteed the realisation of the project.