Guyana off to a fast start as a number of Hotel Projects set to begin this year

Under the leadership of the new PPP/C Government and it’s leader President, Dr. Ifraan Ali, Guyana is pushing full steam ahead to fill the 2,000 plus hotel room deficit the country is currently facing.

Peter Ramsaroop, CEO of Go-Invest, Guyana’s Investment Agency, finished the year strong announcing at least 7 new Hotel Projects that are currently in pre-development extending from the Cheddi Jagan International Airport all the way to the Ocean front coast of Georgetown.

Minister of Tourism, Industry and Commence Oneidge Walrond said in public remarks, “This is just a tangible expression of the confidence that investors have placed in Guyana, and we are quite excited that we have one of the hotels that we have promised. We have the branded hotels ready to go, and this is quite an exciting time.”

Current Pipeline

Sector Highlights Q1 2021

The world’s fastest growing economy has one of the most active Hospitality development pipelines in the world.

Quick Facts:

• Total Rooms Needed per Government: >2,000
• Total Estimated Value of current projects under development: $500 MM USD
• Primary Product Mix: Extended Stay, Select Services, and Business Hotels
• Major international hotel brands are all rushing to establish a presence in Guyana. Several of the world’s largest hospitality brands seeking to establish multiple flags in the Frontier Market of Guyana South America
• Guyana currently only has 2 internationally flagged hotel brands: Marriot Georgetown and the Princess Ramada
• Only Hotel actually in construction is Robert Badal’s Pegasus Suites and Corporate Center slated for a Q3 2021 Opening
  Find the full report below: 
  
  Acarai Properties Guyana Q1 2021 Hospitality Sector Market Report from Steven Jasmin