CJIA to get US$20M Marriott Courtyard hotel by 2023

Local construction company, R Bassoo & Sons Ltd, has entered into initial agreements with Marriott Hotels International and the Government of Guyana to design and build a Marriott Courtyard – a US$20 million project – at the Cheddi Jagan International Airport (CJIA), Timehri, East Bank Demerara (EBD).
This was in response to Government’s Request for Proposals (RFP) for hotels to be constructed in the vicinity of Guyana’s main port of entry.

Managing Director of R Bassoo & Sons Ltd, Roy Bassoo on Thursday signed a Memorandum of Understanding (MoU) with Chief Executive Officer of GO-Invest, Dr Peter Ramsaroop, after obtaining a Letter of Intent (LoI) with Marriott; a completed market study by Hotel Valuation Services (HVS), one of the foremost hotel valuation firms and a conceptual design by Urbahn Architects (New York’s 2019 Design Firm of the Year).
The company in a statement on Friday related that Republic Bank of Trinidad and Tobago has also made an indicative offer to finance the project. The regional commercial bank has already arranged over US$100 million in financing for other real estate projects in Guyana including MovieTowne, the Pegasus Corporate Offices and Suites and the Guyana Marriott Hotel.
The Marriott Courtyard at the CJIA will be the second Marriott Hotel brand in Guyana and is anticipated to be open by 2023.
The LoI with Marriott Hotels International caters for a 6-storey Marriott Courtyard with 140 rooms and modern amenities. The hotel will be a one-minute drive from the entrance of the CJIA and is expected to accommodate airline crews and staff, business personnel, diplomats, and other travellers.
The project is fully supported by the Government and GO-invest. In fact, CEO Ramsaroop has illustrated his eagerness to work with investors towards the continued growth and transformation of the Guyanese economy.
According to the company, at this crucial stage of the country’s development, the Guyana Government has laid the foundation for the rapid growth of the tourism industry and more specifically the development of luxury hotel brands.
Meanwhile, CEO of the CJIA, Ramesh Ghir, who was also present at the MoU signing, pointed out that the hotel will not only benefit the airport and its stakeholders but create employment opportunities for over 300 persons living along the upper East Bank-Timehri area.
Construction is expected to begin in mid-2021 and will be led by Bassoo Building and Civil Engineering Contractors with support from qualified sub-contractors with technical experience in hotel construction.
The company has been a major player in Guyana’s commercial, educational, and healthcare sector development for over 20 years through the construction of bridges, hospitals, secondary and primary schools, university facilities, gas stations and warehouses.
R Bassoo & Sons Ltd has maintained a presence at the CJIA with The Lotus Restaurant, which it has operated for more than 20 years. The Lotus Restaurant has provided excellent food and catering services for airline passengers, crews, and airport staff.
Roy Bassoo, the founder, believes that recent discoveries in Guyana of significant offshore oil and gas reserves spearheaded by United States oil giant, Exxon Mobil, have renewed interest in local investment opportunities.
He predicted that the anticipated economic growth following petroleum exploration and mining, and Government-led initiatives in housing and agriculture will likely increase the number of travellers to and from Guyana. As such, this partnership with Marriott to build a hotel will therefore successfully expand the company’s portfolio into the hospitality sector.
Back in September, President Dr Irfaan Ali had disclosed plans to have four new internationally branded hotels constructed in Guyana.
The Ministry of Tourism, Industry and Commerce had subsequently invited submissions of Requests for Proposals (RFP) for the establishment of world-class hotels here. Interested parties were told that from the proposals received, Government will rank and select candidates, who would then be invited to negotiate an MoU including land terms such as zoning, development conditions, and other incentives that will be provided.
“The GoG is prepared to offer generous incentives for the development of the hotel and hospitality sector including fiscal incentives,” the RFP advisory had detailed.
While it was reported that over 30 Expressions of Interest (EoIs) were received in response to the RFP, Public Works Minister Juan Edghill had revealed last month that at least two of the proposals were for the construction of hotels at the CJIA.
The Minister had said Government is looking to have at least 2000 first-class rooms so that the country can become a convention destination.