Tuesday, September 27, 2022

Hotel business booming in world’s fastest growing economy

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Hospitality is one of the fastest growing sectors in Guyana. One businessman, Robert Badal, recently said that the Guyanese public hears an announcement of a new hotel project every week.

In the span of just four days this past week, four hotel developers met significant milestones in their business ventures.

Badal’s hotel expansion, which he celebrated days ago – Pegasus Hotel Suites and Corporate Centre – cost US$100 million. It increased the Pegasus brand’s room count to about 230.

Besides Pegasus, just this past week alone, there were sod-turning ceremonies for three major hotels. Prior to the grand opening of the Pegasus Hotel Suites and Corporate Centre, President Irfaan Ali addressed the sod-turning ceremony of the Pasha Global and Blue Bridge Inc. Hotel on Monday. Then, on Tuesday, he addressed the sod-turning ceremony for the construction of the Four Points by Sheraton-Marriott Hotel.

Following the Pegasus opening, on Wednesday, the President addressed the sod-turning ceremony of the AC Marriott Hotel.

At the first ceremony, the President said, “As I speak now, the Aden Hotel is under construction, and that is 150 rooms. The Airport Marriott is under construction. That is in Timehri, that is 150 rooms. The new Sleep-In on Brickdam is under construction; that’s 195 rooms…The new Pegasus…that’s 100 new rooms…the AC Marriott Hotel, that is another 150 rooms. We also turned the sod for the Four Point Sheraton Hotel, that’s more than 150 rooms. And…we’re turning the sod of Blue Bridge Investment for the first phase of 150 rooms. This is private investment.”

President Ali noted that the hotels will be complemented by massive infrastructural projects such as the Ogle to Eccles East Bank Demerara superhighway, which will connect to a new highway into Georgetown; a new highway from Enmore to Golden Grove; the expansion of the airport; many multinational corporate headquarters; world-class medical facilities; 2000 acres of development for middle, high and low-income housing, and an industrial and commercial zone among others.

The Stabroek block projects operated by ExxonMobil and the wider national development that the oil sector is influencing continue to up demand for hotel rooms and city houses.

Signaling a long-haul plan for the development of hospitality in Guyana, Minister of Tourism, Industry and Commerce, Oneidge Walrond told a Saudi delegation recently that the government would share with investors, a concept note developed for 500 new hotels.

This plan is part of a wider national strategy to make Guyana a world class tourism and investment destination.

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