A Trinidadian firm is gearing up to invest in the construction and operation of a Hyatt-branded hotel here, a source close to the government yesterday disclosed.
While details of the development and its investors were not disclosed, the source explained to Stabroek News that the hotel will be constructed on private land at Providence, East Bank Demerara. The facility will accommodate 125 rooms and amenities.
Stabroek News has learnt that a Vice President of Hyatt Hotels was in Guyana recently and approved the proposal for operations here.
Hyatt Hotels is among the top franchise-branded accommodations preparing to set up operations here. Other top brand hotels to have signalled their intention of operating here include the Hilton, Marriott and Radisson Blu.
Hyatt is a global hospitality company with 20 premier brands and more than 1,000 hotels and all-inclusive properties in 68 countries across six continents, it stated on its website.
The construction of the hotels falls in line with President Irfaan Ali’s vision of having 2,000 hotel rooms available to meet the needs of the country’s growing business sector as a result of oil and gas activities.
In late September 2020, Ali had told this newspaper that plans were on stream for four new hotel franchises to be established here. Shortly after taking office, according to Ali, a number of business proposals were sent to his government, including expressions to build hotels. It was in light of this he said that expressions of interest would have been publicly advertised, so that all interested hoteliers and investors are given a chance to highlight projects intended.
According to the Ministry of Finance’s Mid-Year Report, which was released last week, the hotel industry is expected to receive a major boost with construction commencing for 20 new hotels. These hotels are expected to add an estimated 3,450 rooms, more than doubling the existing country-wide capacity.
“This has surpassed the initial target of six new hotels and an additional 1,000 rooms. Further, construction… commenced for five of these hotels during the first half of the year, while eight hotels should commence construction during the third quarter, and seven are anticipated in the fourth quarter,” the report said
Currently, two hotels, Marriott Courtyard at the Cheddi Jagan International Airport, Timehri and Aiden Hotel by Best Western have entered the construction phase.
