US$20M MoU signed for Marriott Courtyard Hotel at CJIA

US$20M MoU signed for Marriott Courtyard Hotel at CJIA


(GuyanaTimes) Bassoo & Sons Ltd has announced that it has entered into initial agreements with Marriott Hotels International and the Government of Guyana to design and build a Marriott Courtyard at the Cheddi Jagan International Airport (CJIA).

These agreements follow the company’s response to the Government’s request for proposal (RFP) and include; a Letter of Intent (LOI) with Marriott; a completed market study by Hotel Valuation Services (HVS), one of the foremost hotel valuation firms and a conceptual design by Urbahn Architects (New York’s 2019 Design Firm of the Year).

Republic Bank of Trinidad and Tobago has also made an indicative offer of financing.

Republic Bank has arranged over US$100 Million in financing for other real estate projects in Guyana including Movietowne, the Pegasus Corporate Offices and Suites and the Georgetown Marriott hotel.

The Marriott Courtyard at the CJIA will be the second Marriott hotel brand in Guyana and is anticipated to be open by 2023.

The LOI with Marriott Hotels International caters for a 6 storey Marriott Courtyard with 140 rooms and amenities. The 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 is projected to cost US$20 Million and is fully supported by the Government of Guyana and Go-invest. Dr. Peter Ramsaroop, CEO of Go-invest, has illustrated his eagerness to work with investors towards the continued growth and transformation of the Guyanese economy. At this crucial stage of our country’s development, the Government of Guyana has laid the foundation for the rapid growth of the tourism industry and more specifically the development of luxury hotels brands.

Ramesh Ghir, CEO of CJIA Corporation, points out that the hotel will not only benefit the airport and its stakeholders but create employment opportunities for over 300 persons living along the upper East Bank/Timehri area. Construction is expected to begin in mid-2021 and will be led by Bassoo Building and Civil Engineering Contractors with support from qualified sub-contractors with technical experience in hotel construction.

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