Construction will soon commence on a 125-room Hyatt Place hotel along the East Bank Demerara, with the turning of the sod set for Wednesday, November 10.
The project is estimated to cost approximately US$32.2 million and will be opened by 2024.
It is anticipated that this project will create significant local content by employing Guyanese nationals. During Construction 250 to 300 persons would be employed, 95% of which are expected to be Guyanese nationals.
Post Construction 70 to 80 permanent jobs with several part-time roles would be created, 90% of which are expected to be Guyanese nationals.
The four-star hotel will be targeting the needs of Guyana’s middle to upper class corporate clientele and value-conscious business and leisure travellers.
Amenities include different guest rooms options, disability outfitted rooms, restaurant and bar, meeting rooms, social lounge, fitness centre, pools, internet and communication links, room service and guest laundry, spacious parking spaces.
It will be built on a five-acre parcel of land situated at Parcel 2441 Block III, East Bank Demerara; three acres will be allocated to the hotel.
The hotel will be owned by SIR Investments Guyana Inc. SIR Investments is a subsidiary of Universal Investments Limited, a company registered in 1976 in the Republic of Trinidad and Tobago.
Universal Investments Limited is owned by the Ahamad family and is an investment holding company with subsidiaries in the automotive, financial and real estate sectors in Trinidad. UIL’s main operating subsidiaries are Southern Sales and Service Company Limited, which is the local dealer for the Audi, Kia, Mazda and Isuzu Brands, and Caribbean Finance Company Limited, a prominent finance company in Trinidad.
Through investments in Guardian Holdings Ltd and Agostini’s Limited the Company also has a presence in the insurance, retail and pharmaceutical sectors in Trinidad and Tobago.
