Guyana is set to become part of the Hyatt Hotel family with a four-star hotel. The hotel is estimated to cost around US$32.2m. It will be constructed in the Providence area.
The project is said to be owned by SIR Investments Inc. Guyana, which 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.
With a timeframe of 36 months to be completed, the hotel will feature 125 rooms, targeting the needs of Guyana’s middle to upper-class corporate clientele and value-conscious business and leisure travelers.
Amenities include different guest rooms options, disability outfitted rooms, restaurant and bar, meeting rooms, social lounge, fitness center, pools, internet and communication links, room service and guest laundry, and spacious parking spaces.
The property will sit on a five-acre parcel of land situated at Parcel 2441 Block III, East Bank Demerara, Georgetown.
Hyatt will accompany several well-established businesses in the area mainly the Massy Stores, Amazon Mall, and the Princess Hotel among others.
It is anticipated that this project will create significant local content by employing Guyanese nationals. During construction 250 to 300 persons of whom and 95% are expected to be Guyanese nationals.
When completed some 70 to 80 permanent jobs with several part-time roles and jobs will be available. Again, 90% of these are expected to be Guyanese Nationals.
