I AM incurring time, energy and expense in writing and sending you this letter. I do so because I think that I could lead readers to a better understanding of the Marriott/Pegasus issue which has become politicised and therefore clouded with an aura of misinformation and irrationality on all sides. Marriott will bring a world-class hotel chain here and will cater for a special category of guests who would not normally visit Guyana or lodge at The Pegasus. There would therefore be no real competition between The Pegasus and Marriot, since their markets would not be the same.
The Pegasus stands to gain by being next door to one of the world’s great hotel chains which is an advantage not easily acquired.
The Pegasus offers perfectly decent accommodation, but since the hotel is nearly half-a-century old, it needs to be updated in many small but important ways. The best way the owners of the ‘Peg’ could do this updating and re-prolifling would be to employ a manager of the type of Mr Jayawardene, a Sir Lankan, who revived and indeed revolutionised The Pegasus when it had fallen into the doldrums. In Sir Lanka and South Asia there is much hotelier talent which could be recruited at reasonable cost.
If the capitalisation of the quick renewal of the ‘Peg’ would be too steep for the owners, then they could raise the capital by converting the business into a public company. Some big businesses as well as local and Caribbean subscribers will be interested in the project. Such a public company would be salutary in both improving the image and extending and securing clientele. The owners of the ‘Peg’ would be better off in both short and long term if the share issue is properly crafted. The Pegasus would thereafter be always fully occupied and utilised and remain the household name in Guyana.
This is a win-win situation for owners of ‘Peg’, Marriott and of course the proposed new shareholders in ‘Peg’s’ capitalisation. Success however resides in immediate and fearless action.