As it begins to show a surplus, the Marriott Hotel is boasting of consistent occupancy of 65% but revenue will be used to correct building defects and as such it will likely not be able to start paying on the Republic Bank Ltd loan.
As such, Marriott representatives are currently in negotiations with the bank for a moratorium on the loan repayments which would have seen interest on the financing kicking in from January 1st 2017.
“Occupancy is still exceedingly good, averaging 65 percent and that is now without any particular special events. Business wise I would say it is very good,” Chairman of the Board of Atlantic Hotel Inc (AHI), Beverly Harper told Stabroek News last week. AHI is the