SAM LORD’S CASTLE’s redevelopment into a Wyndham Grand Resort will generate 3 000 jobs and earn Barbados $140 million in foreign exchange.
And Prime Minister Freundel Stuart, speaking at today’s ground breaking for the St Philip project, said it signalled a major step in Barbados push to become a year-round tourism destination.
“The macro economic implications of the project cannot be understated. The hotel will employ at least 1 000 persons after completion and is also expected to generate approximately 2 000 additional jobs in other sectors of the economy. Foreign exchange earnings to be made by the property are estimated at over US$70 million year, with a direct contribution to the GDP of US$35 million,” he said.
“The people of St Philip will gain social and economic benefits from the project. Residents of the parish will be able to earn income as entrepreneurs, service and produce providers and hotel employees. A number of farmers in the area will now have another market for their produce, and artistes and craftsmen will also reap a similar benefit.”
The handing over of the keys to the property is scheduled to take place in 2018, and the prime minister said “this project has been designed to utilise the most sophisticated, state-of-the-art and environmentally sustainable technologies which will make it a prototype in the sector”.
“The hotel will specifically target summer business and will assist Barbados in its quest to become a true year round destination,” he added.
Chinese Ambassador Wang Ke said the project was a sign of the important relationship between Barbados and China and she said more support, including improvements to the Garfield Sobers Sports Complex would be coming. (SC)
