Businessman Bernie Weatherhead still has “nightmares” about the Savannah Hotel – one of the two GEMS properties he took over from Government last year.
In a recent interview with the DAILY NATION, the longstanding hotelier who took up Government’s offer to lease Savannah Hotel and Time Out at The Gap, both in Christ Church, said that over the past few months he had to pump more than $5 million into the sprawling property to bring it to an acceptable level.
Government-owned Hotels and Resorts Limited (HRL) had advertised the two hotels along with Blue Horizon for lease “on an individual or collective basis” with “a purchase option”.
HRL, the GEMS parent company, had racked up more than $145 million in Government loans but had an accumulated debt of over $229 million.
