In January 2009 the President assured Guyanese of an alive and well Marriot Hotel, aback of Kingston.
With the government already spending millions of dollars on relocating and revamping 42 sewage pipes it was a done deal ! or so u would think.
Why has President Jagdeo held on to a deal that is dead with no real hope of revival? One can only think that he believes that there was such a DEAL.
WHY ? Why? EXACTLY WHY HASN’T THE MARRIOT HOTEL BUILT?? We refuse to believe that the Marriot Deal was used to moved squatters off the seawall, we refused to believe that the Marriot could have replaced the Pegasus and we refuse to believe that the President dreamt that he has a deal with the company, Marriot Incorporated.
This ‘Marriot Hotel deal’ was expected to be closed since mid 2008 but then the President said that “That was the time when the turmoil in the capital markets escalated with the collapse of some financial institutions and you had the catastrophic drop in the stock exchange and the credit crunch deepened and therefore, traditional sources of capital that were identified were no longer there. So the financial closures simply could not have happened,”
In May 2009 government advertised for expressions of interest in a joint venture for the a location aback of the Kingston Seawall. The Privatisation Unit said the government was seeking interested investors for the project, a total of 6.9 acres of land situated in the north-western part of Kingston bordered by the Atlantic and the Demerara River. The government was look for an investment of US$20M.
Oh well and in 2010? We still await this government rated 5 Star hotel or RIP Marriot.