Tobago Chamber president on Marriott-brand hotel: Shareholders excited about share offer
Corey Connelly
TOBAGO Chamber of Industry and Commerce president Curtis Williams says stakeholders are overwhelmed by Superior Hotels Ltd’s plan to offer shares to Tobagonians in the proposed Marriott-brand hotel project at Rocky Point.
The project’s developer, John Aboud, made the offer during a meeting with Tobago businessmen, hoteliers and representatives from several organisations at Mt Irvine Bay Resort on August 21.
Aboud said as the project draws closer and the figures are finalised, Tobagonians will be offered a share or shares in the hotel.
Williams said, “We were excited about that. We don’t know the numbers. We don’t know the cost of the shares but they are going to have value.
“The part that I like is that we, the Tobagonians, we have an interest in what is going on at Rocky Bay and that screams excitement for me – that I have interest in there. It doesn’t matter how much my shares are worth but I have shares there so I getting profit. The thing is that I am getting profit.”
He said Aboud noted that Superior Hotels Ltd had only 15 shares.
“I don’t know if they intend to have more but he indicated it is only 15 shares they have and he is willing to offer one or two shares to Tobago and Tobagonians.”
Williams believes a Marriott-brand hotel at Rocky Point will be successful.
“We the Tobagonians will ensure that it is successful and we do reap the benefits from it. And that is what we are looking forward to. That is a real exciting moment for us to know that the Superior brand is willing to go that distance.”
He said the company also has agreed to pump money into the farming and fishing industries so that they will be able to produce top quality food items for the hotel when it gets off the ground.
“That speaks volumes for us in Tobago and we are excited about the project. We just want Tobagonians to understand the kind of contribution this project would bring towards the economy. It will make a change.”
Williams said many people will benefit from the project, especially with the coming on stream of the upgraded ANR Robinson Airport, which is expected to be completed next year.
He predicted the airport will lead to increased airlift, more tourists and greater occupancy at hotels and guest houses.
Williams said representatives from several associations and village councils attended the meeting.
The proposed construction of a $500 million Marriott-brand hotel and property development at Rocky Point was announced in September 2021 during the PNM-led THA’s term in office.
It is to be built on approximately 28 acres of land on the western side of Grafton Road and south of Pleasant Prospect.
The project comprises 200 rooms, 28 duplex residences, 11 single-family villas and 12 fully outfitted townhouses. It is expected to provide employment for 750 people during construction.
The Farley Augustine-led Tobago House of Assembly (THA) administration has said repeatedly it will support the project, which it hopes will improve significantly the island’s room stock.