The Government of Guyana through the Tourism and Commerce Ministry and the Guyana Office for Investment (GO-Invest) signed a Memorandum of Understanding (MoU) with the investor for the US$90 million Hilton Hotel which will be constructed at McDoom, Greater Georgetown.
From left: Tourism Minister Oneidge Walrond, TOTALTEC CEO Lar Mangal and GO-Invest Head Peter Ramsaroop shortly after signing the MoU
The investors in the luxury hotel is a joint initiative among 658 Guyana Holdings, GREC Investment Group and TOTALTEC Oilfield Services Guyana Incorporated.
It was recently announced that the 289-room branded hotel will be constructed in the already busy area which is the home to many businesses such as Gafoors, Pritipaul Singh Investment, Guyana Shore Base Inc, Farm Supplies, and Schlumberger. Construction will begin in January 2021 and is expected to last for two years.
According to its website, with more than 575 hotels across six continents, Hilton Hotels & Resorts provides the foundation for exceptional travel experiences and values every guest who walks through its doors.
Photo credit: www.agoda.com
At the signing were Minister Oneidge Walrond; Head of GO-Invest Peter Ramsaroop and CEO and Chairman of TOTALTEC Oilfield Service Lar Mangal.
Minister Walrond revealed that there has been an overwhelming response to the proposals for the construction of hotels in Guyana. According to her, this is just the tangible expression of the confidence that investors have placed in Guyana. She said that Government is excited to deliver on its promise of bringing branded hotels to Guyana.
On the other hand, Mangal expressed that he was delighted to fast track this multimillion-dollar project. “We see this as a great opportunity for Guyana to build further local capacity in terms of supporting multiple sectors, of course, the tourism sector. We see this as a very fast and dynamic given the emerging oil and gas sector.”
In this regard, Mangal added that the hotel is being placed in a very unique location to support the multi-sector establishment that will have a long-term impact. He said bringing a branded hotel like the Hilton, is a breakthrough in terms of the world-class hotels being established in Guyana.
According to him, Guyana needs more hotels because many people are visiting. He pointed out that the oil and gas sector is certainly an area where they are continuously striving and looking to see where they can place more people and build capacity locally.
“The intent of this project is to continue to support local capacity in development in terms of having more Guyanese suppliers and contractors involved in very unique high tier development projects. Thereby decommissioning more and more activities from happening outside of Guyana and bringing them onshore to Guyana to be supported by Guyanese working with Guyanese in Guyana.”
Only last week, Chairman of the Giftland Group, Roy Beepat announced plans to construct a US$100 million Radisson Blu Hotel, which is part of an international chain of hotels in several destinations around the world. According to Beepat, the agreement is already finalised to offer this five-star package to Guyana.
During the announcement, he disclosed some of the features which will encapsulate the ultramodern project. He noted that the hotel will be constructed where the current Giftland Mall parking lot is located. The hotel will span 12 floors with adequate space for hundreds of rooms, banquet and conference halls, parking, and popular restaurant brands such as Red Lobster and Olive Garden.
Also, Beepat envisions that it will feature high-end gyms, business, and presidential suites, helicopter pads, and even an internationally-branded casino.
Radisson Hotels is an international chain headquartered in the United States. A division of the Radisson Hotel Group, it operates the brands Radisson Blu, Radisson Red, Radisson Collection, Country Inn & Suites, and Park Inn by Radisson among others.
The Government had recently announced that it has received many proposals since August 2, 2020, for hotel development and as such invited all persons with interest in that regard to submit or resubmit their proposals. The Government said it was prepared to offer generous incentives for the development of the hotel and hospitality sector, including fiscal incentives.
In its emergency budget, the ruling People’s Progressive Party/Civic (PPP/C) outlined several measures to support tourism, including a special incentive package to attract new investments that will result in four new hotels.
The Government noted that in anticipation of both the recovery from the current economic downturn caused by the COVID-19 pandemic and the expanded economic activity from the growing petroleum sector, it is projected that increased hotel development would bring significant employment opportunities and income.
President Irfaan Ali has already said that the Government is looking to have four new branded hotels constructed by the end of his first term in office. The construction of these world-class hotels is seen as timely for Guyana which has gained worldwide recognition since the discovery of oil from which the country is expected to see major developments across various sectors.
The Guyana Marriott Hotel was officially opened in April 2015. It includes a total of 192 rooms and five suites across nine floors and provided jobs for around 250 people and about 100 indirectly. The US$51 million project was first launched in November 2011.
