Seven new hotels are to be constructed this year as the government’s plans for the hospitality sector advance.
“Since 2021, we are finalising investment agreements with major international brands: Courtyard Marriott, Four Points under Marriott, Hyatt Place, AC Marriott and Pasha Global…,” Chief Executive Officer of the Guyana Office for Investment Dr Peter Ramsaroop said, adding that “G-Invest has either completed investment agreements or is finalising agreements with the listed hotel chain developers. All of these hotels have been approved by the brand and authorized to begin construction.”
Peter Ramsaroop
The construction of these hotels will put the accommodation industry on stream to meet an expected 2,000-room demand by 2025. These hotels and three others under construction will see a total of over 1200 rooms.
The hotels to be constructed this year are: Four Points under Marriott at New Access Road, Houston with 150 rooms; Hyatt Place at Providence with 125 rooms; AC Marriott at Ogle with 150 rooms; Pasha Global at Liliendaal with 200 rooms; Best Western to be located at Liliendaal Seafront with 120 rooms; along with Kings Hotel with 40 rooms and Herdmanston Lodge with 60 rooms, both located in Georgetown.
Three other hotels, Aiden Hotel with 150 rooms and Sleepin Hotel on Brickdam with 195 rooms located also in the city and Marriott Court-yard at the Cheddi Jagan International Airport, Timehri are already in the construction phase.
The Aiden, Sleepin, Marriott Courtyard, and Four Points under Marriott Hotels are scheduled to be completed between March and December 2023, while the other hotels will be completed between March and September 2024.
The hotel being constructed by Pasha Global at Liliendaal, Sunday Stabroek was told, will not carry an international brand but a name unique to the group. The company has already commenced land-filling works at the site identified for the hotel.
The hotel is set to be constructed next to the Arthur Chung Conference Centre The location of the hotel is seen as strategic and viewed as viable given its close proximity to the conference centre which has been hosting a variety of international meetings.
Pasha Global already has a significant presence in Guyana via its Yokohama Vehicle Dealership, Carnival Casino and betting franchise Superbet.
The hospitality sector is nothing new to the group, which manages hotels in Paramaribo, Suriname, among which is the country’s premier hospitality site, Tropicana Hotel. Other hotels under the group’s management are the Mirage Hotel, Savannah Hotel and Atlantis Hotel all located in Paramaribo, Suriname.
Since the call by the government for the development of hotels here, Ramsaroop said, there has been a robust reception from both local and international investors.
According to Ramsaroop, while it seems as if all the hotels will be sited in the environs of the city, they are speaking with other investors to look at locations in Berbice and West Demerara.
He stated that with developments such as the Deep Water Harbour in Region Six, CGX’s recent discovery of oil in the Corentyne Block and the industrial site along with the gas-to-energy plant on the West Demerara, it is necessary for developments of infrastructure to be directed to those regions.
Ramsaroop went on to add that from an economic standpoint, the development of the hotel sector in Guyana benefits the nation immensely.
“Firstly, through employment; thousands of new jobs are already being created for the benefit of the Guyanese people both during construction and after. These hotel projects are creating opportunities for skilled Guyanese who will play a pivotal role during the construction phase as well as local businesses and suppliers who will benefit during and after completion of the hotel. Once in operation, there will be a significant demand from key sectors such as agriculture and livestock where hotels will need to supply fresh meat and produce for customers,” he related before noting that local farmers will also benefit due to the increase for food and supplies.
Ramsaroop posited that Guyana will have high-standard accommodations available for all types of visitors.
“Furthermore, our local construction companies and skilled workers will gain mostly through the transfer of knowledge. Information will be a crucial element which will have an inexpungible impact in Guyana. Local construction companies and skilled workers will gain key insights and exposure from these multinational hotel juggernauts,” he added.
According to the CEO, his office is currently in negotiations with large hotel chain developers for additional luxury accommodations and eco-lodges.
Ramsaroop said Guyana is gearing up to position itself as the go-to destination to host international conferences, seminars and world forums.
In late September 2020, President Irfaan 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 invitations of interest were publicly advertised so that all interested hoteliers and investors would be given a chance to highlight projects intended.
Other brands expected to be constructed here are the Sheraton, The Element, Delta Marriott, the H-Tower Luxury Hotel, the Marriott Courtyard, the Hyatt Hotel, the Radisson Blu and the Hilton Hotel, among others.
While it is widely accepted that Guyana’s oil and gas industry will see a significant increase in the demand for hotel rooms, analysts have questioned whether each of the new developments has undertaken feasibility studies to determine at what point market saturation could occur.
