City Mayor Alfred Mentore yesterday called for urgent talks with the government and the Qatari Assets Group over a planned hotel for Carifesta Avenue as a tussle over control of the land rumbles on.
At a statutory meeting of the city council yesterday, Mentore called for talks to clarify the terms of the investment and its potential impact on the city’s finances. He said that the dialogue was necessary to ensure that the interests of the Council are represented and that the benefits of the development are fairly distributed.
Mentore revealed that in the coming days, he plans to reach out to representatives from the Assets Group to discuss the new developments and to better understand the direction of their plans. He expressed hope that through these discussions, the Council would gain clarity on the project’s timeline, scale, and expected benefits for the city.
“In the next few days, I will be reaching out to the persons from Qatar who run the Assets Group to discuss these developments and gain an understanding of the direction they will be heading in,” Mentore stated.
He reiterated his commitment to ensuring that the City Council plays an active role in the decision-making process, highlighting that the Council’s support for the investment is contingent upon receiving adequate backing for their own local projects. Specifically, he mentioned that the Council is in need of support for the development of its markets, which he hopes will be part of the broader conversation surrounding the Assets Group’s planned investment.
Mentore underscored the importance of cooperation between the government, the Assets Group and the City Council. While he expressed optimism about the potential benefits of the investment, he reiterated that clear communication and fair terms are essential to ensuring the development serves the best interests of Georgetown and its residents.
At a statutory meeting held in February, Mentore asserted that the land along Carifesta Avenue, which the government designated for hotel construction, belongs to the City Council. In a separate interview with the Sunday Stabroek that same month, Mentore reiterated his position, stating, “We have proven title to this property.”
The situation escalated when the Guyana Lands and Surveys Authority (GLSC) issued a statement, contending that the land in question belongs to the state, not the City Council. In response to these claims, Mentore presented a document to the City Council countering the GLSC.
Mentore stressed that any major investment within the city should involve proper consultation with the Council. While he acknowledged the positive economic impact of new developments, such as hotels, he emphasized that ownership matters and the City Council must be part of the discussions moving forward. “While we welcome these investments, we must be on the same page,” Mentore stated, referring to the need for alignment between investors, the Council, and the central government.
A key point of concern for the Mayor was the issue of tax breaks often granted to large investments. Mentore pointed out that while tax incentives are common in major development projects, it is not yet clear if these benefits will extend to local rates and taxes, which the City Council heavily relies on for revenue. He stressed the need for further discussions on how such investments would affect local taxes, ensuring that the Council does not lose out on important sources of funding.
Hilton
On August 28th, the Hilton hotel group in a press release heralded the signing of the dual brand Hilton Georgetown and DoubleTree Suites by Hilton Georgetown, as the company’s first hotels in Guyana and intended for Carifesta Avenue.
Owned by an affiliate of the Qatar-based Assets Group and managed by Hilton, the properties’ combined 411 rooms will form part of an oceanfront, mixed-use business and entertainment complex in the capital. With this signing, Hilton said it continues its rapid expansion in the Caribbean and Latin America (CALA) region, where it currently has more than 225 open hotels welcoming guests.
“We believe in investing in Guyana, a country poised for significant growth and a promising future in tourism and hospitality,” said Moutaz Al Khayyat, chairman, Assets Group. “Our choice to debut in this emerging market reflects our commitment to investing in high-potential destinations and our confidence in Guyana’s trajectory. These properties are meticulously designed to offer a diversity of high-end experiences.”
“We are thrilled to further our partnership with Assets Group, broadening our combined portfolio from the Middle East and Asia to the Caribbean and Latin America with our planned debut in Guyana,” said Juan Corvinos, senior vice president, development, architecture, design and construction, Caribbean and Latin America region, Hilton. “Guyana is an important regional business hub and a promising tourism destination, and we are excited to join forces with Assets Group once again to celebrate this impressive project and significant milestone in Hilton’s continued rapid expansion”, he said.
