A MEMORANDUM of Understanding (MoU) to construct a 289-room, Hilton-branded nine-storey hotel to the tune of US$90M was signed on Monday with the site identified in Guyana’s oil-and-gas hub at 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 were subject Minister Oneidge Waldrond; Chief Executive Officer (CEO) of Go-Invest, Dr Peter Ramsaroop and Chairman and CEO of TOTALTEC, Lars Mangal.
The project is expected to be completed in two years and construction is planned for commencement in January of 2021.
The project will consist of a 161-room Hilton Garden Inn with programming of a further 128 suites. The building will feature a variety of on-site 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 aesthetically 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 in the project.
Representing 658 Guyana Holdings at the signing ceremony was Mr Mangal.
“This will be [a] 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 Mangal.
He continued: “Our development will not only create jobs in the construction sector, but also create several opportunities for Guyanese contractors and suppliers to be involved in another world-class development for Guyana. We will see investments being made in the training and development of staff to serve in hospitality and catering departments as the construction phase nears completion on this fast track development concept.”
He explained that the investment partners appreciate the support and progress by the Government of Guyana following the recent Expression of Interest, to expedite the process with outstanding support from its team at the Guyana Office for Investment, Go-Invest.
“We also look forward to developing a strong partnership with the Ministry of Tourism in offering more world-class accommodation to boost growth of that sector,” Mangal said.