–as developers gear up to start construction of multimillion-dollar hotels this year

IN keeping with the planned expansion of Guyana’s tourism and hospitality sector, the construction of eight additional hotels is expected to begin this year.

This is according to the Chief Executive Officer (CEO) of Guyana Office for Investment (Go-Invest), Dr. Peter Ramsaroop, who, in a release, said that since 2021, Go-Invest has either completed investment agreements or is finalising agreements with several hotel chain developers.

He said: “Since 2021, we are finalising investment agreements with major international brands: Courtyard Marriott, Four Points, Hyatt Place, AC Marriott and Pasha Global to total over 1,200 rooms currently on stream to meet the 2,000-room demand by 2025.”

Among the list of hotels set to start construction are Pasha Global, Hyatt Palace, AC Marriott, Marriott Courtyard, Four Points (under Marriott), Best Western, Kings Hotel and Herdmanston Lodge.

Those hotels, he said, have been approved by the brand and authorised to begin construction this year.

To this end, Dr. Ramsaroop added that the development of the hospitality sector in Guyana would benefit the country in many ways including through employment with the creation of thousands of new jobs for locals both during and after construction.

Additionally, he said that the hotel projects will also benefit local businesses and suppliers during its construction phase.

“Once in operation, there will be a significant demand from key sectors such as agriculture and livestock, where hotels will need to supply fresh meat and produce for customers,” the CEO said.

It is for this reason that local farmers are being urged to position themselves to benefit from the increased demand for food.

Meanwhile, he said that as it relates to infrastructure, Guyana will have accommodations of high standard available for visitors.

Additionally, Dr. Ramsaroop said that the local construction companies and skilled workers will gain insight and exposure from these investments.

Added to this, Go-Invest is currently in negotiations with large hotel chain developers for additional luxury accommodations.