Guyana Marriott costs three times more than Jamaica

January 6, 2013, By KNews, Filed Under News, - Source

·       Jamaica project – US$23M versus Guyana project US$58M
·       Average cost per room in Jamaica – US$176, 923 verses Guyana cost US$294, 416
·       Guyana’s project cost is 152 per cent more than Jamaica
·       Jamaica project is privately funded (private equity) versus GOG investment

Full disclosure on Jamaica project, little disclosure on Guyana project

Construction cost of the Guyana Marriott hotel is more than three times the comparative cost of a Jamaica Marriott.

The cost for constructing the Guyana “Marriott” Hotel andCasino is projected as at almost US$60 million, while the Jamaican project has been announced at US$23 million. Guyana projects to build 197 rooms while the Jamaican project is 130 rooms.

Using the Jamaican cost, the comparative cost for Guyana project should be in the vicinity of US$35 million.

Taking the average cost per room, if one were to use the overall cost in Jamaica and divide it by the projected number of rooms, it would mean that the cost per room is US$176,923. The comparative price in Guyana should be the same. But, Guyana is building a room for US$294,416.