Georgetown: A memorandum of understanding (MoU) to construct a 289 room Hilton branded nine storey hotel with a cost of US$90M was signed Monday with the site identified in Guyana’s oil and gas hub in Houston/ Mc Doom East Bank Demerara.
The documents were signed in the Board Room of the Ministry of Tourism, Industry and Commerce, South Road, Georgetown.
The signatories included subject Minister Onidge Waldron, Chief Executive Officer (CEO) of Go-Invest, Dr. Peter Ramsaroop and Chairman and CEO of TOTALTEC Lars Mangal.
The project is expected to take two years to complete and construction is planned for commencement in January of 2021.
The project will consist of 161 room Hilton Garden Inn with programming of a further 128 suites. The building will feature a variety of onsite dining options, conference facilities, a pool, and 24-hour fitness facility.
The architectural design will bring in the best of modern smart, Scandinavian minimalistic concepts incorporating regional and local environmental and esthetically stunning features including spectacular landscaping of the grounds.
The project is led by 658 Guyana Holdings, a joint venture company, managed by 1503 Partners, who are joined by TOTALTEC Oilfield Services Guyana Inc and GREC Investment Group as key stakeholders to the project.
Representing 658 Guyana Holdings at the signing ceremony was Lars Mangal, Chairman and CEO of TOTALTEC.
“This will be great addition to Guyana boosting the development of local capacity in support of its indigenous oil and gas sector along with offering additional room capacity to serve the tourism sector”, said Lars Mangal.
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