The Guyana Marriott Hotel is still aiming for a December opening however the long-awaited US$27 million debt financing agreement between Atlantic Hotel Inc (AHI) and Republic Bank Ltd (RBL) of Trinidad has yet to be finalized.
Executive Director of the National Industrial and Commercial Investments Limited (NICIL), Winston Brassington disclosed yesterday that the Trinidadian bank is “close to finalising the documentation for this financing.”
The paperwork is currently holding up the Hong Kong businessmen, Victor How Chung Chan and Xu Han, from finalising their one-off payment of US$8 million for their 67% equity in the hotel. Brassington stated that once the security documentation for the US$27 million debt financing was finalised the two investors would be making their payment. He did not