August 15, 2022
Mystery continues to surround the ill-starred Casique Palace Hotel and Banquet Hall at Providence, East Bank Demerara which had been planned for the 2007 World Cup here but failed to be completed.
No one can authoritatively say who currently owns the 15-year-old ghostly edifice which is close to the Guyana National Stadium.
The hotel was plagued with problems from early on when the investors ran into financial difficulties and were unable to complete the building in time for the 2007 ICC Cricket World Cup. The investors were granted permission to construct the hotel with the expectation of it being completed in time for the matches which were held in Guyana and other parts of the Caribbean.
The investors soon encountered financial difficulties in completing the estimated US$3.5M hotel despite the $33.7m advance from the government at the time. It remained in an incomplete state until 2009, when the investors and the then People’s Progressive Party/ Civic (PPP/C) government signed an agreement that allowed the administration to complete the building, and sell it to recoup its monies. After being on the market for several years, it was bought by the beleaguered Chinese company BaiShanLin. Shortly after, the logging company put the hotel up for sale after it encountered financial difficulties.
After the government changed in 2015, BaiShanLin’s operations were halted and the company went into receivership as it owed the Guyana Revenue Authority (GRA) and the Guyana Forestry Commission (GFC) over $1B.
GFC repossessed all of the Chinese company’s forestry concessions, after it was revealed that the company did not adhere to the agreements and obligations tied to the granting of the concessions. The GRA levied against the company for more than $1B, citing negligence by BaiShanLin in keeping with its commitments for receiving duty-free concessions on equipment. It is unclear if BaiShanLin ever satisfied its debts to GFC and the GRA.
Stabroek News’ attempts to ascertain the ownership and future of the Casique, came up empty handed. Reports were that it was sold to a nearby restaurant, whose employees used to live there. However, a manager at the restaurant denied ownership. A source said that the now desolate building was bought by a hotel in proximity whose owners planned to renovate the building. This newspaper was unable to get a response from the owners of the hotel in question.
A knowledgeable source told Stabroek News, that the Casique had severe design flaws and has a basement which floods. According to the source, who was familiar with the project at its inception, it was a difficult situation, since the investors were given some bad advice and didn’t accept a financing offer from a local bank to complete the project.
There has been a flurry of sod turnings for a number of hotels, one of which is to be constructed close to the Casique, which is now an eyesore. US-based Guyanese Beverly Arthur was the original investor in the hotel. (Desiree Kissoon)