The Guyana Government through the Ministry of Tourism and the Guyana Office for Investment (Go-Invest) have signed a Memorandum of Understanding with an investor for a US$90M Hilton Hotel to be constructed at McDoom, East Bank Demerara.
The investors in the hotel are a joint ventured company called 658 Guyana Holdings, along with GREC Investment Group and TOTALTEC Oilfield Services Guyana Incorporated.
It was recently announced that the 289-room branded hotel will be constructed in the already busy area which is the home to many businesses such as Gafoors, Pritipaul Singh Investment, Guyana Shore Base Inc, Farm Supplies, and Schlumberger. Construction will begin in January 2021 and is expected to last for two years.
According to its website, with more than 575 hotels across six continents, Hilton Hotels & Resorts provides the foundation for exceptional travel experiences and values every guest who walks through its doors.
Present at the signing were Tourism, Industry, and Commerce Minister Oneidge Walrond; Head of Go-Invest Peter Ramsaroop and CEO and Chairman of TOTALTEC Oilfield Service Lar Mangal.
Minister Walrond revealed that there has been an overwhelming response to the proposals for the construction of hotels in Guyana. According to her, this is just the tangible expression of the confidence that investors have places in Guyana. She said that Government is excited to deliver on its promise of bringing branded hotels to Guyana.
Mangal expressed that he was delighted to fast track this multimillion-dollar project. He said, “We see this as a great opportunity for Guyana to build further local capacity in terms of supporting multiple sectors, of course, the tourism sector. We see this as a very fast and dynamic given the emerging oil and gas sector.”
In this regard, Mangal added that the hotel is being placed in a very unique location to support the multi-sector establishment that will have a long-term impact. He said bringing a branded hotel like the Hilton, is a breakthrough in terms of the world-class hotels being established in Guyana.
According to him, Guyana needs more hotels because many people are visiting. He pointed out that the oil and gas sector is certainly an area where they are continuously striving and looking to see where they can place more people and build capacity locally.
“The intent of this project is to continue to support local capacity in development in terms of having more Guyanese suppliers and contractors involved in very unique high tier development projects. Thereby decommissioning more and more activities from happening outside of Guyana and bringing them onshore to Guyana to be supported by Guyanese working with Guyanese in Guyana.”