Seven new hotels are due to be built this year as the government’s plans for the hospitality sector progress.
“Since 2021, we have been finalizing investment agreements with major international brands: Courtyard Marriott, Four Points under Marriott, Hyatt Place, AC Marriott and Pasha Global…”, said the managing director of the Guyana Office for Investment, the Dr Peter Ramsaroop, adding that “G-Invest has entered into investment agreements or is in the process of finalizing agreements with listed hotel chain developers. All of these hotels have been brand approved and cleared to start construction.
The construction of these hotels will set the accommodation industry in motion to meet an expected demand for 2,000 rooms by 2025. These hotels and three others under construction will see a total of over 1,200 rooms.
The hotels to be built this year are: Four Points under Marriott at New Access Road, Houston with 150 rooms; Hyatt Place in Providence with 125 rooms; AC Marriott in Ogle with 150 rooms; Pasha Global in Liliendaal with 200 rooms; Best Western will be located at Liliendaal Seafront with 120 rooms; as well as Kings Hotel with 40 rooms and Herdmanston Lodge with 60 rooms, both located in Georgetown.
Three other hotels, Aiden Hotel with 150 rooms and Sleepin Hotel on Brickdam with 195 rooms also located in the city and Marriott Court-yard at Cheddi Jagan International Airport, Timehri are already under construction.
The Aiden, Sleepin, Marriott Courtyard and Four Points under Marriott hotels are expected to be completed between March and December 2023, while the remaining hotels will be completed between March and September 2024.
The hotel being built by Pasha Global in Liliendaal, Sunday Stabroek said, will not carry an international brand but a name unique to the group. The company has already started the backfilling work on the site identified for the hotel.
The hotel is expected to be built next to the Arthur Chung Conference Center. The location of the hotel is considered strategic and considered viable given its proximity to the conference center which has hosted various international meetings.
Pasha Global already has a significant presence in Guyana through its Yokohama vehicle dealership, Carnival Casino and its Superbet betting franchise.
The hotel sector is not new for the group which manages hotels in Paramaribo, Suriname, among which is the first hotel site in the country, Tropicana Hotel. Other hotels managed by the group are Mirage Hotel, Savannah Hotel and Atlantis Hotel, all located in Paramaribo, Suriname.
Since the government’s call for hotel development here, Ramsaroop said, there has been a strong welcome from local and international investors.
According to Ramsaroop, while it looks like all the hotels will be located around the city, they are talking with other investors to seek locations in Berbice and West Demerara.
He said that with developments such as the deep water port in region six, the recent discovery of oil by CGX in the Corentyne block and the industrial site and gas to power plant in the west of Demerara, it is necessary that infrastructure developments be directed towards these regions.
Ramsaroop went on to add that from an economic point of view, the development of the hotel sector in Guyana benefits the nation immensely.
“First, through employment; thousands of new jobs are already being created for Guyanese during and after construction. These hotel projects create opportunities for skilled Guyanese who will play a pivotal role during the construction phase as well as local businesses and suppliers who will benefit during and after the hotel’s completion. Once in operation, there will be a significant demand from key sectors such as agriculture and livestock where hotels will have to provide fresh meat and produce to customers,” he explained before noting that the local farmers will also benefit from increased food and supplies. .
Ramsaroop postulated that Guyana will have high standard accommodation available for all types of visitors.
“In addition, our local construction companies and skilled workers will mainly benefit from the transfer of knowledge. Information will be a crucial element that will have an indelible impact in Guyana. Local construction companies and skilled workers will gain key information and exposure from these multinational hotel behemoths,” he added.
According to the CEO, his office is currently in negotiations with major hotel chain developers for additional luxury accommodation and eco-lodges.
Ramsaroop said Guyana is preparing to position itself as the go-to destination for hosting international conferences, seminars and global forums.
In late September 2020, President Irfaan Ali told this newspaper that plans were underway for four new hotel franchises to be established here. Shortly after taking office, according to Ali, a number of business proposals were sent to his government, including expressions to build hotels. It is in light of this that he said the invitations of interest have been announced publicly so that all interested hoteliers and investors have the opportunity to highlight the projects being considered.
Other brands expected to be built here include Sheraton, The Element, Delta Marriott, H-Tower Luxury Hotel, Marriott Courtyard, Hyatt Hotel, Radisson Blu, and Hilton Hotel, among others.
While it is widely believed that Guyana’s oil and gas industry will see a significant increase in demand for hotel rooms, analysts have questioned whether each of the new developments has undertaken feasibility studies to determine when the market saturation could occur.