–over 800 persons to be employed

RECOGNISING the potential that exists in Guyana for accommodation and entertainment facilities, Suriname’s Pasha Global Group has initiated plans for the construction of a US$45 million (approximately G$9.3 billion) hotel, with a ceremonial sod-turning exercise at the project site, Liliendaal, East Coast Demerara.

The Pasha Global hotel, which will be constructed by Blue Bridge Inc., is minutes away from the Arthur Chung Conference Centre (ACCC) and will have a capacity of 350 to 500 rooms at the end of construction in 2025.

Pasha Global Group is a casino investment company that is developing and operating hotels and casinos in various countries. The company currently owns the Tropicana Hotel Paramaribo; the Mirage Hotel; the Savannah Hotel, and the Atlantis Hotel, all in Paramaribo, Suriname.

At the ceremony on Monday, President, Dr. Irfaan Ali, said Pasha Global’s investment in Guyana is aligned with the government’s vision and represents yet another move by the private sector to directly play a part in the country’s development.

He related that this massive investment will open up avenues for opportunities that would directly benefit the lives of Guyanese.

The hotel is set to create jobs for at least 800 people after completion and will open up space for the creation of a minimum of 500 indirect jobs.

“Just imagine the type of demand this will create in our economy in the next two to three years. I’m not even going into government infrastructure. Let us stick to just what we are doing this week.

“And understand the scale, the magnitude, the demand on labour, the demand for machinery, the demand and maintenance personnel like mechanics, the demand for fuel and for the government, the demand for greater infrastructure,” President Ali said.

The Head of State reminded that the government is dedicated to supporting private sector investments and remains committed to implementing systems that would encourage continued and sustained investments that will benefit the country as a whole.

Speaking directly about the government’s support to the hotel industry, President Ali said that several massive private sector initiatives are progressing smoothly. He related that the 150-room Aiden by Best Western Hotel, the 150-room Courtyard by Marriott Hotel next to the Cheddi Jagan International Airport (CJIA), and the 195 room Sleep Inn Hotel have all begun construction.

In light of this, Dr. Ali said the government is working to boost the readiness of the human resource of the country to meet the major demand that will come from the hospitality sector.

“We are already training; our aim is to train 6,000 Guyanese in the hospitality industry. So, by the time these hotels are ready to open their doors, two to three years down the road, we will have 6000 persons ready to pick up these jobs,” the Head of State said.

President Ali reminded that these types of investments remain “timely” as Guyana continues on its trajectory of development, noting that the country has massive potential to attract more international investors, consultants, business associates, and tourists. This will significantly drive up the demand for hotel accommodations across the country.

The Head of State added that the government is committed to implementing systems that would welcome investments, noting: “We have to have the legal framework, the institutional framework to support this transformation.”

He affirmed that the government is committed to implementing laws that would provide more investment-friendly systems to boost investor confidence in the local economy.

Blue Bridge Inc.’s Assets Director, Sanket Balgi, said that his company is confident in the investment opportunities available in Guyana.

He noted that the massive hotel is expected to be constructed in two phases. Phase one, which is expected to be completed in 2024, will see the completion of the first 150 rooms, while the second phase will see the construction of additional rooms that will take the facility’s capacity to 350 to 500 rooms by 2025.

Balgi related that with their company managing several hotels outside of Guyana, it is committed to being a part of this massive historical growth trajectory Guyana is on and is committed to not just providing a service to persons coming into the country, but also to directly impacting the economy through job creation.

“Guyana is getting ready for self-growth and we will also want to be part of it. And we would want this hotel to be one of the iconic hotels, so that it can emerge alongside the growth of Guyana. It can be an example for the growth of Guyana,” the assets director said.