Georgetown : Head of the Presidential Secretariat Dr Roger Luncheon says the Marriott Hotel in Guyana which will be owned by Atlantic Hotel Incorporated (AHI) will be controlling all the assets “hotel, entertainment centre, the entirety; they are the owners.”
Luncheon further noted that “Guyana will manage it for a consideration. Both the hotel and the entertainment centre would be managed by brand name firms, who will bring to the shores of Guyana what brand name firms bring to any other shores, and whatever proceeds occur as a result of their successful management, that belongs to the owners.”
He also clarified that being a manager for certain considerations, does not mean the surrender of ownership. “A top notch casino management firm is assumed to have a vision how… this building is developed. What goes where, and that is part of the obligation that we would be working with each other,” the HPS stated. Dr Luncheon pointed out that another part of the obligation, AHI’s financing of outfitting the hotel has nothing to do with surrendering ownership, “in addition, management would include providing a vision, designing a casino, what goes in, what does not, and providing implements that should go in. The consideration shared would take that into effect, but does not include change in ownership,” he reiterated.
The US$51 million investment has come under constant fire from the political opposition and their supporters. China’s Shanghai Construction Group will be undertaking construction of the hotel in Kingston.
Funding will be in the form of debt and equity and government will provide a minority share of the funding.
With branches in nine countries, Marriott in Guyana will boast 197 rooms, a large ballroom, conference centre, a casino, nightclub, restaurant, a concrete walkway and all other amenities of a world-class hotel. The 160-room hotel will operate under a management agreement with Atlantic Hotel Inc (AHI), which is currently owned by the government of Guyana as part of a public-private partnership between government and private sector investors.
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