Georgetown: Trinidadian businessman, who runs the Amalgamated security company in Guyana has invested US$75M to construct a 150-room hotel at Ogle, East Coast Demerara.
The Marriott-branded will be located on sugar lands he bought from the government.
The hotel to be named AC Marriott but the investor on Thursday said he has not yet signed the franchise agreement with Marriott.
Aboud bought 2.16 acres of the former Guyana Sugar Corporation (GuySuCo) lands through the National Industrial and Commercial Investment Limited (NICIL) at a cost of over GYD$26 million per acre.
Infrastructural works are expected to begin in March even as the investors await several geotechnical and environmental studies.
According to NICIL, it recently signed an agreement with Trinuyana Investments Incorporated of Guyana to develop a “world class, iconic, select service, internationally branded Hotel – AC Marriott Hotel”.
NICIL said that the project is already underway with the commencement of geo-technical works.
“The construction of the hotel will bring additional rooms to add to the national hotel stock, which will (help) stimulate the local economy through additional employment opportunities and business development.”
NICIL said that Trinuyana Investments Incorporated intends to target business travellers to Guyana, especially those linked to Guyana’s nascent oil and gas sector.
The new hotel also wants to target ExxonMobil (Guyana) headquarters, which will be situated in proximity to the Eugene F. Correia International Airport, Ogle.
According to NICIL, an initial 400-plus jobs will be created during construction, with some 200 permanent ones upon completion.
NICIL’s Privatization Specialist (Acting) Rachael Henry disclosed that the hotel will be constructed over four floors.
She disclosed that her agency and the CEO of Trinuyana Investment Inc (Guyana and Trinidad), John Aboud held lengthy discussions before arriving at the decision to construct the hotel.
Henry said that the hotel will have several amenities. Among them conference, office and some state-of-the-art living facilities, which he said would be integrated into the hotel complex.
“This is the culmination of negotiations that NICIL had with this company and the result is a major brand name hotel coming to Guyana so that all can benefit from it, as it certainly will boost our tourism and ultimately our country revenues,” Henry said
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