PPP blames APNU for preventing private sector monies from being invested in Marriott Hotel

Aug 02, 2017 News, http://www.kaieteurnewsonline....d-in-marriott-hotel/

The People’s Progressive Party (PPP) is blaming A Partnership for National Unity (APNU) for preventing the remainder of the private sector monies from being invested into the Marriott Hotel.

The PPP was at the time responding to an article carried by Kaieteur News on Monday. That news item saw the head of NICIL, Horace James stating that certain projects like the Marriott Hotel were the worst investment mistakes on NICIL’s part.

James said, “In terms of the loans, the hotel is not making money to service the loans. In fact, the Government has to pay US$1.2M every six months.”

The official said that while this cost should have been handled by AHI and or NICIL, the latter simply does not have the money. He said, “NICIL cannot stand on its own two feet”.

The PPP disagrees with this line of thinking. In its statement to the press, the opposition said that the Chinese built structure which is still without its Entertainment Complex provides many jobs today and is the largest taxpayer in the hospitality sector.

The PPP said, “It is no secret that the Marriott project was handicapped when the APNU+AFC Government shelved completion of the casino that was going to be operated by Marriott; funding was already arranged from Republic Bank but it was delayed by court proceedings filed by an APNU Member of Parliament.”

The Opposition continued, “Shortly after it took Office, the coalition Government immediately withdrew the legal proceedings and signed the debenture—yet the monies were never utilized to complete the casino and reimburse NICIL for its investment.”

The PPP added, “It was this APNU inspired court proceedings that prevented the remaining private sector monies from being invested.”

The Party is now calling on the government to indicate what was the expected rate of occupancy in relation to the feasibility study done and the actual occupancy for the past two years.

The party said that reports are that the occupancy is well above planned and that the hotel is a major contributor to the hotel and hospitality sector in Guyana.

Despite earlier criticisms, the PPP also pointed out that the Government is now “very happy to use the Marriott with many Government officials frequenting the hotel; many of them even spending weekends there.”

NICIL Head, Horace James

Every day cain, lilmohan, django, warrior and the remainder of the slop can crew buse down Jagdeo and the PPP about the Marriott. But yet the PNC refuse to sell it, and even worse, they sporting day and night at the Marriott, blowing out tax payers dollars. 

Drugb posted:

Every day cain, lilmohan, django, warrior and the remainder of the slop can crew buse down Jagdeo and the PPP about the Marriott. But yet the PNC refuse to sell it, and even worse, they sporting day and night at the Marriott, blowing out tax payers dollars. 

Druggie why wasn't private sector investment put in place DURING the PPP period.  This would have reduced NICIL's exposure.  In fact the project was premised on being a private sector led venture and then NOTHING.

Jagdeo is running his mouth as usual.

caribny posted:

Drugb posted:

Every day cain, lilmohan, django, warrior and the remainder of the slop can crew buse down Jagdeo and the PPP about the Marriott. But yet the PNC refuse to sell it, and even worse, they sporting day and night at the Marriott, blowing out tax payers dollars. 

Druggie why wasn't private sector investment put in place DURING the PPP period.  This would have reduced NICIL's exposure.  In fact the project was premised on being a private sector led venture and then NOTHING.

Jagdeo is running his mouth as usual.

Cathy and her PNC friends are too busy keeping party at the Marriott to worry about investments.  Didn't she promise the people of Guyana over two years ago that she will sell out that thing??

Bibi Haniffa posted:

Cathy and her PNC friends are too busy keeping party at the Marriott to worry about investments.  Didn't she promise the people of Guyana over two years ago that she will sell out that thing??

Why sell when they are enjoying the benefits on a regular basis.