St Vincent’s First Holiday Inn Express on the Market
St Vincent’s first Holiday Inn Express, which is running close to a 95/98% occupancy rate and is already fully booked for Carnival 2025, is up for sale. This news was announced by Glen Beache at a recent ‘Home is where the Heart is’ campaign in the diaspora.
The Holiday Inn Express hotel at Diamond officially opened its doors in St Vincent and the Grenadines on November 22, 2024.
“I should say that hotel is also for sale for any of you who are interested. I see a lot of money in this room. So I’m happy about it. But that’s for sale. And that’s a hotel that was built by the government,” Beache stated.
The St Vincent and the Grenadines government signed a contract for the construction of a Holiday Inn Express hotel on June 7, 2022, with NH International (Caribbean) Limited. The contract was for $52 million.
Beache, at the diaspora gathering, addressed those who usually ask the question about why the government should be involved in the hotel business.
“Government is not really involved in hotel business, but we need to get the room rate up. We need to increase the number of hotel rooms available. And for those who don’t know the history, that’s exactly how Barbados got their number of rooms up. The government had to get involved because you have to show your potential investors that you have confidence in the product, and that’s what we are doing. We have confidence in the product.”
Beache further encouraged nationals to invest back home, stating that Myah’s Hotel, which is owned by a Vincentian, is doing very well, so much so that the investor plans to expand and go up two more floors.
The initial investment was 19 million Eastern Caribbean dollars.
