–investor affirms construction will be completed within specified timeframe

OVER 100 persons have been employed by investor, Cardinal Investments Inc., to accelerate works on the US$20 million Courtyard by Marriott hotel, next to the Cheddi Jagan International Airport (CJIA).

In an exclusive interview with the Guyana Chronicle, the investor, Roy Bassoo, said construction of the facility was moving apace despite the inclement weather, and works will be completed by the end of next year— the deadline for completion.

Addressing the work being executed by R. Bassoo and Sons Construction Company, Bassoo said: “Right now we are working on the second floor of the hotel and we are scheduled to complete it at the end of 2023.”

Due to the inclement weather, an “accelerated work plan” was implemented, and this entails work during the day as well as at night. That plan was introduced to ensure that the company stays within the allotted time.

Bassoo related that they have done numerous projects throughout the length and breadth of Guyana, but, according to him, “this project” is the first of its type and magnitude that the company has undertaken.

He said: “This is a very exciting project; we are happy to be involved in this project, not only for ourselves but for Guyana and more so for the airport.”

He also related that the hotel will transform the landscape of the CJIA and he was grateful to be a part of that. The company has already sent persons to undergo training in hospitality, so that the service would match the five-star look of the hotel.

The six-storey hotel will be a one-minute drive from the entrance of the CJIA and is expected to accommodate airline crews and staff, business personnel, diplomats, and other travellers. It was reported that the facility will be the second Marriott hotel brand in Guyana.

President, Dr. Irfaan Ali, had assured investors that the intended 2023 completion date for the new hotel will coincide with the full transformation of the East Bank Demerara corridor.

“So, not only are we seeing the realisation of a hotel, but we are seeing a realisation of a new urban spread around the airport, and this area will become a major hospitality, leisure, and sports recreational area, in addition to the business segment,” President Ali had said, as he pointed to the massive expansions ongoing at CJIA.
He added: “The type of investments that will be created around will only add to the success of this [Courtyard Marriott] project.”

As a matter of fact, Dr. Ali said that, within the next five years, the government alone will be plugging billions of dollars into improving and modernising that catchment area.
“We are already talking to urban planners and our local planners. We have established a group looking at the development of Silica City and the type of infrastructure that will surround Silica City,” the President informed.

In his response to President Ali and his government being on-the-ground and lending support to projects such as his, Bassoo said: “It is very refreshing to see that the President of a country (Guyana) and his government are hands-on. We could not have expected better from him and the support that they have given to us and the other private entities and private projects that are going on.”

Bassoo said agencies such as Go-Invest, the Guyana Revenue Authority (GRA), and Guyana Power and Light (GPL), have all been very supportive.

He related that the mentioned organisations are “on the ball with the necessary approvals and information.”

“I have been in business for close to 30 years and this has never happened before; it’s amazing how this president is working with the private sector to get these projects going. Like I said, it is very refreshing to have a young, vibrant and energetic president who is action-oriented,” Bassoo said.

A business-friendly climate supplemented by the anticipated economic ascension is being credited for the attraction of major players in the hotel industry such as, Sheraton, Best Western Hotels and Resorts, the H-Tower Luxury Hotel, the Hyatt Hotels Corporation, the Radisson Hotels, and the Hilton Hotels and Resorts, among others.

According to a study by Oxford Economics, hotel operations and guest spending, support eight million jobs across the US alone. The same study found that a typical hotel with 100 occupied rooms per night supports 230 local jobs every year. And the nation’s hotel and lodging industry brings other important benefits to local communities.

These businesses are a cornerstone for local economic activity, providing increased tax revenue, capital investment, tourism-related development and promotion, civic leadership, charitable contributions and sponsorship. These benefits are also expected to accrue to Guyana, as the country continues to function as an investment magnet.