Sod turned for US$32.2M Hyatt Place hotel at Providence

…Guyana’s tourism & hospitality sector facing finest moment – Finance Minister
…over 300 persons to be employed

Construction of another internationally-branded hotel – Hyatt Place – will commence soon at Providence, East Bank Demerara, and the Guyana Government has lauded the US$32.2 million investment that will boost the country’s tourism and hospitality capacity at a time when the global industry is still facing the devastation caused by the ongoing COVID-19 pandemic.
The sod-turning ceremony for the 4-star hotel was held on Wednesday morning at its Providence location, between Qualfon and Texila American University. It will sit on three acres of land – part of a five-acre parcel that was purchased by the investor SIR Investments Guyana INC.

The Hyatt Place Georgetown will feature 125 rooms and modern amenities such as meeting rooms, restaurants and bars, social lounge, fitness centre, spacious parking, and also disability- outfitted rooms.
Speaking at the sod-turning ceremony, Finance Minister Dr Ashni Singh pointed out that Guyana’s tourism potential has long been spoken of, and now there is tangible evidence, such as the construction of high-end hotels to reaffirm this.
This, he noted, is coming at a time when tourism industries around the world are reeling from the impact of the pandemic.
“The tourism industry worldwide is facing perhaps its most difficult time in living memory. Yet, today, in this moment of tremendous global challenge encountered by the tourism industry, Guyana’s tourism industry is facing perhaps its finest moment, with an unprecedent level of investment being made in the sector,” the Finance Minister stated.

According to Dr Singh, the foundation for this take-off of Guyana’s tourism sector was laid by the previous People’s Progressive Party/Civic (PPP/C) governments, which saw the potential of the industry as part of the country’s expanding economy pre-oil and gas.
He posited that since coming into office just over a year ago, the Dr Irfaan Ali-led administration has been placing emphasis on promoting this sector, which has tremendous potential for job creation.
“There are real, tangible and visible manifestations of how exciting the moment in which we live really is… And so, more than ever before, Guyana’s tourism sector is poised for take-off,” Dr Singh contended.
The Finance Minister has lauded the investors for recognising Guyana’s tremendous potential as a destination for investment.

Room capacity
“It’s an open secret that international visitors coming to Guyana can’t find a hotel room. We have international delegations saying to us they cannot get a hotel room… Notwithstanding the upgrading of so many hotel properties right now, the international visitors saying they cannot find a hotel room. In particular, we are living in an era when international standards matter, and so the presence of world-class international brands, I believe, is an extremely positive event,” Minister Singh outlined.
Meanwhile, Tourism Minister Oneidge Walrond pointed out that with the addition of the Hyatt Place Georgetown, approximately 3,070 high-end hotel rooms have been added to the local capacity with the commencement of construction for internationally-branded hotels.
This, she said, represents 80.3 per cent of the overall five-year target of adding 2,000 high-quality rooms, “and we assure you, the people of Guyana, that more is yet to come.”
On this note, the Tourism, Commerce and Industry Minister posited that Government would continue to provide a facilitative environment for such investments to take form.
In the same breath, however, Walrond posited that the development of these internationally-branded hotels are viewed as just one component of an integrated strategy for the development of the local tourism and hospitality industry.

“That strategy seeks to make Guyana a leading destination in the Americas, and we envisioned that the traveller who seeks the assurance of these internationally-known facilities as their base of operations will venture out to experience the serenity of the Eco-Lodge, the majesty of Lake Tapakuma, or the beauty of the Orinduik Falls. The inclusion of the world-famous Kaieteur goes without saying,” she declared.

Jobs for Guyanese
Construction of the first- ever Hyatt Place hotel in Guyana will commence soon, and is expected to last for 20 months and target a 2024 opening. The project is being undertaken by Trinidad-owned SIR Investments Guyana INC, and according to it Chairman, Imtiaz Ahamad, Guyanese can expect to benefit from this initiative.
“[The Hyatt Place Georgetown will create] employment for approximately 300 persons during the 20-month construction phase. At the time of opening, we expect another 80 to 100 persons to be fully employed, and without a doubt – and you can remember I said this today – there will be opportunities for local partnerships.
Partnerships which will result in huge dividends for the country and the people of Guyana,”
SIR Investments’ parent company – Universal Investments Limited – is owned by the Ahamad family in Trinidad, and is an investment holding company with subsidiaries in the automotive, financial and real estate sectors there.
With the franchise agreement already executed, project manager contracted, architecture and other services and finance arrangements approved, Ahamad declared on Wednesday that “…we are ready for take-off!”
Already, construction has commenced for a second hotel under the Marriott brand – the Marriott Courtyard – and a Best Western Hotel. (8)