A Trinidadian company will tomorrow be turning the sod for a US$32.2m Hyatt-branded hotel at Providence, East Bank Demerara.
A press release on behalf of the company said that the project will be owned by SIR Investments Guyana Inc, a subsidiary of Universal Investments Limited, a company registered in 1976 in the Republic of Trinidad and Tobago.
Universal Investments Limited is owned by the Ahamad family and is an investment holding company with subsidiaries in the automotive, financial and real estate sectors in Trinidad, the release said. UIL’s main operating subsidiaries are Southern Sales & Service Company Limited which is the local dealer for the Audi, Kia, Mazda and Isuzu Brands, and Caribbean Finance Company Limited, a prominent finance company in Trinidad. Via investments in Guardian Holdings Ltd and Agostini’s Limited the Company also has a presence in the insurance, retail and pharmaceutical sectors in Trinidad, the release said.
The Hyatt Place hotel will consist of 125 rooms and would be 4-star property, targeting the needs of “Guyana’s middle to upper class corporate clientele and value-conscious business and leisure travelers”.
Amenities will include different guest rooms options, disability outfitted rooms, restaurant and bar, meeting rooms, social lounge, fitness centre, pools, internet and communication links, room service and guest laundry, spacious parking spaces.
The hotel will be sited on a 5-acre parcel of land situated at Parcel 2441 Block III, East Bank Demerara, Georgetown. Three acres will be allocated to the hotel.
The timeline to opening will be approximately 36 months. This includes approved designs, permitting, construction and pre-opening arrangements.
The release said that the project will create significant local content by employing Guyanese nationals. During construction – 250 to 300 persons will be employed, 95% of whom are expected to be Guyanese nationals.
Post construction – 70 to 80 permanent jobs with several part-time roles and jobs will be available, 90% of whom are expected to be Guyanese nationals.
In October this year, Stabroek News had reported that a Vice President of Hyatt Hotels was in Guyana weeks earlier and had approved the proposal for operations here.
Hyatt Hotels is among the top franchise-branded chains preparing to set up operations here.