PORT OF SPAIN – The Trinidad and Tobago government Friday said it intends to execute shortly a sign a Memorandum of Understanding (MOU) with the Jamaica-based Sandals Resorts International (SRI) for the construction of a Sandals hotel in Tobago.
A government statement noted that a delegation headed by Prime Minister Dr Keith Rowley met with a SRI team headed by its founder and chairman, Gordon Butch Stewart on Wednesday “to continue the conversation with respect to the establishment of a Sandals and Beaches resort in Tobago, the Sandals Golden Grove Tobago Project”.
The statement said that the discussions “surrounded the type of structure that the project would follow, i.e. similar to the model that exists for Hilton Trinidad and Hyatt Regency Trinidad, meaning that Government would build the resort and Sandals Resorts Inc. would manage it.
“Discussions also focused on the timing of the project and the use of private equity investment. The parties are now working on a Memorandum of Understanding which it is expected will be executed shortly,” the statement noted.
It said that the government is committed to the “successful pursuit of a Sandals Golden Grove Tobago resort as the positive effects would be tremendous” and that citizens will continue to be updated with respect to the project.
When he delivered the TT$50.5 billion budget to Parliament on Monday, Finance Minister Colm Imbert said that Sandals, with its 22 hotels based in the Caribbean, would contribute significantly to the branding and marketing of Tobago as a tourism destination.
“It will also catalyse the expansion of good quality five-star rooms, provide a boost to stay-over arrivals and in the process generate employment opportunities and spill over activity both in Tobago and Trinidad. “The Sandals brand will also lead to an expansion in air and sea traffic to Trinidad and Tobago. We expect the negotiations with the Sandals Group to be concluded shortly,” Imbert added. (CMC)
