Gov’t moving to sell Marriott Hotel
The Guyana Government is looking for expressions of interest (EoIs) for the sale of its interests in the Guyana Marriott Hotel through its holding company, NICIL.
The hotel was controversially constructed using state and other funding, and because it was unable to pay back a crucial loan, the government had to assume responsibility for it. The hotel was founded during the previous Jagdeo regime. Despite the fact that the hotel debuted in 2015, financial information has not been made public for a while.
The National Industrial and Commercial Investments Limited (NICIL), in an advertisement for pre-qualification in today’s Stabroek News, stated that it is looking for Expressions of Interest (EoI) from individuals or businesses, individually or as part of a joint venture/consortium, with an interest in buying its shares in Atlantic Hotel Inc (AHI), the special purpose company that had been established for the hotel.
The pre-qualification notification, according to NICIL, is intended to shortlist the parties that possess the required financial competence.
Applications for pre-qualification must include the following: proof of financial capability in the form of net worth, audited financial statements for the previous three fiscal years, net worth of at least US$250 million, and a letter of financial capability from a reputable financial institution to purchase NICIL’s shares in AHI for the Guyana Marriott Hotel.
On January 10th, 2023, at 2 PM, applications must be submitted. Pre-qualification applications must be delivered to the NICIL Chief Executive Officer at 199 Camp Street in South Cummingsburg.
