Targeting oil and gas business travellers, another Marriott-branded hotel, the AC Marriott, is expected to be established here in another two and a half years near the Ogle Inter-national Airport, the National Industrial and Commercial Investments Limited (NICIL) yesterday announced.
Trinidad and Tobago businessman John Aboud of Amalgamated Security Services Limited is the investor behind the Five Star US$75M, 150-room hotel, which government holding company, NICIL said is expected to create about 400 jobs during its construction phase and some 200 permanent jobs when it is done.
“Trinuyana Investments Incorporated of Guyana recently signed an Agreement with the Nation to develop a world class, iconic, select service, internationally branded hotel-AC Marriott Hotel,” NICIL yesterday revealed in a press release.
“…Trinuyana Investments Incorporated (will target) business travellers to Guyana, especially those linked to Guyana’s nascent ‘Oil and Gas’ sector and the creation of ExxonMobil (Guyana) Headquarters,” the statement added.
Aboud’s investment underlines the expanding Trinidadian interest in Guyana’s oil and gas economy.
It is unclear when the agreement between NICIL and the company was signed and it raises questions about the timing of the announcement, as records from the Deeds Registry, seen by Stabroek News, show that the company was only registered here in July of 2019.
Aboud, of Macoya Road, Trinidad, is both the company’s Secretary and lone Director with local law firm Hughes, Fields and Stoby as its legal representative and their Lot 62 Hadfield Street address listed as the company’s Guyana address.
NICIL did not state the acreage or how much was paid for the land, which is located aback the former Ogle Estate.
It is unclear too what role the current caretaker APNU+AFC government played in the agreement.
As it pertains to environmental regulations, Head of the Environmental Protection Agency Dr. Vincent Adams told this newspaper yesterday that the agency received a permit application for the hotel and that it was being processed.
A representative of NICIL, acting Privatization Specialist, Rachael Henry, said that her agency and the CEO of Triniyuana Investment Inc. “held lengthy discussions before arriving at the decision to construct the hotel.”
Among the facilities and amenities of the hotel chain, which has over 195 hotels globally, are conference [rooms], offices and some state-of-the-art living facilities, which would be integrated into the hotel complex.
“This is the culmination of negotiations that NICIL had with this company and the result is a major brand name hotel coming to Guyana so that all can benefit from it as it certainly will boost our tourism and ultimately our country’s revenues,” Henry said.
According to the NICIL release, not only the agency but the CEO of Triniyuana was upbeat about the project, which Aboud said was “the best possible deal for Guyana.”
Ultimately
“The discussions were very lengthy and at times challenging but ultimately we understood as they wanted the best deal for Guyana and that is fine as every agency and or business wants what’s best for them,” he said.
“He disclosed that he was eyeing Guyana for a number of years but about three years ago felt confident enough to move ahead with the project. He pointed out that while they don’t have major personnel on the ground as yet, he foresees this being a reality in early March, noting that they anticipate construction commencing in a few months. Aboud who heads a major investment company in Trinidad and Tobago said in the NICIL release that he fell in love with the numerous opportunities that exist here. He stated that Guyana is poised to benefit significantly from what he dubbed as its rapidly growing tourism market,” NICIL said.
The Trinidadian businessman has held various leadership positions on the Twin-Island Republic.
“He is actively involved in government and private organizations where policies and decision-making have crucial consequences on both the private and public sectors. His present appointments include Chairman, Crime Stoppers Trinidad & Tobago (over 5 years); Chairman, Caribbean Bermuda & Latin America Crime Stoppers Inc. (2013); Chairman, Crime & Justice Committee – Trinidad and Tobago Chamber of Industry and Commerce; Member of the Cabinet appointed National Drug Council (12 years); Member of the Association of Security Companies of Trinidad & Tobago and Member of the Private Security Network Commission,” his profile states.
And while the initial investment is US$75 million, Aboud, according to NICIL, stressed that “another significant amount of monies is expected to be pumped into the hotel as they seek to take it to the acceptable international standard.”
The Five-Star hotel, according to him, will serve as a complement to the current Marriott Hotel, which is located in Kingston, helping to further boost tourism here. “After visiting here a few times and seeing the numerous opportunities that exist, I decided to invest in buying some land as I see that there is a need for such investment to further propel Guyana’s tourism,” Aboud said.
Noted too were the benefits of the hotel being close to the Eugene F Correia International Airport. “He added that the hotel site is a strategic location for the future stressing that the hotel’s presence will further enhance and greatly boost the economic activity taking place at Ogle. He said that with regards to negotiations, there were several challenges but is very thankful as like them NICIL wanted to secure the best possible deal for the Guyanese people,” NICIL quoted Aboud as saying.
The NICIL statement said Aboud spoke about decisions from agencies being had soon but it is unclear if those were regulatory bodies. “He went on to express significant excitement about the deal being wrapped up, stating that the relevant agencies responsible for a number of decisions are expected to make several decisions shortly, thus further helping to boost the planned construction of the hotel, which he said will help to enhance and market Guyana’s tourism product immensely,” the release said.
For his part, NICIL CEO, Colvin Heath-London, congratulated Aboud and his team, noting that the “people can expect NICIL pursuing a number of opportunities that will yield significant revenues and benefits for the country. He stressed that his team had engaged Triniyuana and is satisfied that their investment is ideal and most importantly timely.”
“We are very pleased with the investment that Mr. Aboud and team would be bringing to Guyana and is very confident that the government and people of Guyana will certainly benefit from this major hotel investment,” Heath-London said.
