Businessman Robert Badal is to build a US$45m hotel on the grounds of the Pegasus Corporate Centre.
The development comes two and a half years after he launched the US$100m Pegasus luxury suites and corporate centre.
A sod turning and cocktail event was held yesterday at The Piazza, Pegasus Corporate Centre to mark the official commencement of construction.
The new hotel, located within the Pegasus Corpo-rate Centre along Seawall Road, adds to Badal’s existing investments in the hospitality sector, including the Pegasus Hotel and Pegasus Suites and Cor-porate Centre. The project is expected to boost Guyana’s capacity to accommodate the growing influx of business travelers and tourists, driven by the country’s booming oil and gas economy.
President Irfaan Ali in remarks at the ceremony emphasised the government’s commitment to fostering an environment conducive to business growth. The launch of this new branded hotel aligns with his administration’s push for economic diversification, job creation, and infrastructural expansion.
Ali praised the investment by Badal and his family, acknowledging their confidence in the country’s economy. “When Guyanese take bold steps to invest their resources, to borrow, to expand, it is our duty as policymakers to ensure their success,” he stated.
He also hinted at ambitious targets for other industries, revealing that he has challenged local poultry producers to achieve self-sufficiency in hatching eggs within three to four years, which would require tens of millions of US dollars in investments.
The President emphasised the need for Guyana to attract three million visitors annually by 2030 to sustain private sector investments in hotels, restaurants, and entertainment venues. He pointed out that major economies worldwide are focusing on tourism, entertainment, and sports as high-value industries that drive growth.
Ali dismissed skepticism about these investments, arguing that Guyana must develop a “new playground of development” that blends economic diversification with large-scale infrastructure projects. “We are acutely aware that part of our mission now must be to find the right formula through which we can have three million people passing through this economy by 2030,” he said.
The hospitality industry in Guyana is witnessing a surge in investment, with multiple internationally recognized brands setting up operations. This US$45 million hotel development at the Pegasus Corporate Centre will complement existing and upcoming projects, further enhancing the country’s tourism and business accommodation infrastructure.
With the construction of this new facility set to begin within the next two weeks, dozens of jobs will be created in the short term, with long-term employment opportunities expected in the hospitality and service sectors.
The hotel is projected to feature modern amenities, catering to both corporate and leisure clients, reinforcing Georgetown’s position as a growing commercial hub.
