Confident that his US$100M Pegasus Suites and Corporate Centre project will thrive and insisting that he isn’t threatened by branded hotels being established here, hotelier Robert Badal yesterday blazed both the past and current governments for what he called the “alienation” and discriminatory treatment of local investors.
“The local private sector is discriminated against. We are treated as aliens when it comes to investment opportunities by governments. It is the same policy that the PPP/C had and the APNU+AFC is doing the same,” Badal told Stabroek News.
As he took the local media corps for a tour and updated on the expansion project, the businessman-turned-politician said that he is confident in his project and that it will turn profits, but he wants to highlight that many other persons could have similar investments if government was as benevolent with concessions as to foreigners.
“When I proposed this building, before anything even went ahead, I had to get EPA (Environmental Protection Agency) permission, show financing, and get building permits and everything else. Now you have turning of the sod for a place that hasn’t been given the (hotel) brand go ahead, don’t have building permits, don’t have EPA permit, don’t have financing and just speculating and you just give our lands to those people,” he said.
“Do you think a local business person or conglomerate from the Private Sector would have been given the same opportunity? No! Why wasn’t the Private Sector involved? All hotels should be given the same waivers they gave the Marriott (Hotel in Kingston). They gave them the concessions and a free hotel. The local hotels have to pay taxes and the foreign hotels don’t have to pay. This is just discrimination and I will speak on that,” he thundered.
Last week the sod was turned at Ogle by Trinuyana Investments Incorporated of Guyana, a company owned by Trinidad and Tobago businessman, John Aboud, for a US$75M AC Marriott Hotel. That Hotel, according to Aboud is expected to create about 400 jobs during its construction phase and some 200 permanent jobs when completed.
Then on Wednesday, the sod was turned for a US$100m hotels project, which the investors said they could not yet name as they were still in discussions with the brands.
“CMEI will construct the hotels in the 120-130 room range with world class amenities inclusive of a miniature golf course, clubhouse, entertainment centre, swimming pool, solar farm and green space allocation,” NICIL has said. It had noted that the division of the land would be 7.5 acres for a solar farm, 5 acres for a Club House/Entertainment Centre/Mini Golf Course, and one hotel and its supporting commercial establishments will cover 4 acres and the other hotel will cover 3.5 acres.”
This newspaper understands that the hotel will have to go up to 150 rooms if it wants the same concessions given to the Marriott Hotel in Kingston.
Badal, who is the presidential candidate for Change Guyana at the March 2nd general elections, said he believes that a local conglomerate of investors could have undertaken the same project if they were given the support extended by government to the Ogle investors. He said that he does not believe that government has confidence in its people and it is a shame to see.
But the hotelier said that he would not be deterred and will press on with his project as his current Pegasus Hotel is exceeding projections.
Of the new project, he said that less than one year and a half after construction, the superstructures for both buildings are finished and he is “working on the internals”. The Corporate Tower is expected to be finished in August and the hotel rooms by December.
He also boasted about the number of job opportunities that the new building will provide and is providing currently as it is under construction, while making a comparison of how much more can be done for the country at large if he is elected to office.
Badal also spoke about the importance of investments in the country and that he believes through investments, the country will be able to see a major economic boost.
“My Pegasus is doing the best business it has ever been doing. With the completion of these buildings I will set the trend for the hotel and other service industries,” he said while pointing out that all 90 rooms in the new hotel will be suites.
Badal’s vision for the remodeling of the area he owns near his current Kingston hotel is a seven-storey, state-of-the-art corporate office complex adjacent to a fifteen-storey tower offering luxury
residential accommodation. These buildings will be accommodated on the eastern part of the property.
He has said that the entire complex will offer the most innovative, mixed-use facilities on par with any first world facility of the same nature but with complementary food and entertainment facilities currently offered by the Pegasus Hotel.
Facilitated through financing by Republic Bank the project is being undertaken by China Harbour Engineering Company. The facilities will also be equipped with the latest building management systems and a curtain wall providing floor to ceiling views of the Atlantic Ocean and the city of Georgetown’s skyline.
And beginning a transition towards green energy, an initiative which he firmly advocates and believes in, Badal said that the facility will have on top of the roof a 30,000 square feet solar panel system to power it.