US hotel group invests in Princess Hotel

Last Updated on Saturday, 26 December 2015, 20:59 by GxMedia

The rebranded name has already taken effect and arose following an agreement between the Providence entity and RAMADA which is a subsidiary of the Wyndham Hotel group of New Jersey in the United States.

The agreement is a work in progress in which the two have partnered on Princess’ existing hotels in Europe and the Caribbean.

Speaking at a press briefingon Tuesdday at the hotel’s boardroom , Cuneyt Dalcan , General Manager of the hotel told the media that Princess Hotel will re-invest over US$7M into the venture including renovation and refurbishing of its rooms , pool , restaurant, lobby ,ballroom , reception and other public areas as well as the installation of new elevators.

He said that Princess is expecting to recoup profits on its investment over a five year period and given the 65% occupancy rate at the hotel which ranges over peak and off-peak period, the hotel is expected to make good on its investment.

It will also become more eco friendly with the installation of new lighting sources using state of the art LED technology which will compliment the hotel’s existing parking area . A new solar water heating system as well as energy saving systems are among the upgrades which will embrace RAMADA standards.

Tourism Minister Irfaan Ali told the gathering that the new move is good for Guyana’s tourism sector. he said that RAMADA brings a level of service which is second to none. He said that 85% of the business travelers and 75% of the leisure travelers are looking for branded hotels . He noted too that the smaller hotels are also being boosted by the tourism sector as he boasted of the hotel traffic being aimed at the smaller hotels mainly on visiting Surinamese.

RAMADA joined the Wyndham Group in 1990. Wyndham is considered the world’s largest hotel company with over 7,200 hotesl and approximately 612,000 rooms in more than 65 countries worldwide.

Meanwhile , speaking on developments in the sector , Ali stated on Tuesday that negotiations have already commenced with another international air carrier which will add to the consumer choices of travel here.He said that specially branded buses are also being planned for the sector while a major 3-day , festival -like event is being planned for August this year. That event will include the showcasing of the “sound,soul and taste of Guyana”.

“So the tourism sector has been  gaining tremendous traction for the past two years”, Ali said.