Chairman of Atlantic Hotel Inc. (AHI), Winston Brassington has denied the claim that a company from the British Virgin Islands (BVI) has offered to purchase the Marriot Building.
Brassington’s denial came following the publication of an article in a local newspaper earlier this week. In a statement yesterday (Saturday September 14), Brassington noted that AHI is in the closing stages of a deal with a foreign investor and that the name of this investor will be announced when there is financial close.
“In general, private investors are usually reluctant to make premature public disclosures about their business and in this case there is greater apprehension to do so, given the hostile and unwelcoming political environment created by the Opposition parties,” the press statement noted.
According to Brassington, the private investor is aware, and acknowledges, that given its intended relationship with the Government of Guyana, it will be required to make a public announcement which it is prepared to do at the appropriate time.
Leader of the minority political party, the Alliance For Change (AFC), Khemraj Ramjattan was quoted in the article saying the BVI incorporated investor offered to buy the building as is for US$10M as the Government is “finding it difficult to attract the investors and syndicated loans” to complete the hotel.
However, Brassington said that this is an inaccurate reflection of where the project stands to date.
According to the press statement, “Construction to the Marriott Hotel and Entertainment Complex remains a priority for the Government of Guyana. While construction to the outer shell of the building is complete, design works on the interior continues requiring great care and review in order to ensure that all aspects of design and construction achieve the Marriott standards for functionality and operations.”