{"id":19184,"date":"2024-04-29T14:12:34","date_gmt":"2024-04-29T14:12:34","guid":{"rendered":"https:\/\/ncnguyana.com\/2023\/?p=19184"},"modified":"2024-04-29T14:12:39","modified_gmt":"2024-04-29T14:12:39","slug":"government-to-reassess-bids-for-marriott-hotel","status":"publish","type":"post","link":"https:\/\/ncnguyana.com\/2023\/government-to-reassess-bids-for-marriott-hotel\/","title":{"rendered":"Government to Reassess Bids for Marriott Hotel"},"content":{"rendered":"<div id=\"fb-root\"><\/div>\n\n<p>By Josiah Williams<\/p>\n\n\n\n<p>Recent developments suggest that the government is considering reassessing bids for the sale of the Marriott Hotel or initiating a third round of bids. <\/p>\n\n\n\n<p>Dr. Bharrat Jagdeo, General Secretary of the Peoples Progressive Party, disclosed this information during a party press conference.<\/p>\n\n\n\n<p>The decision comes following the passing of American businessman Ramy El-Batrawi, who previously held the highest bid for the hotel. <\/p>\n\n\n\n<p>Dr. Jagdeo emphasized that there is no rush to conclude any sale as the government is not desperate to sell the property.<\/p>\n\n\n\n<p>There have already been two bidding rounds for the hotel, with the first yielding undesirable results. <\/p>\n\n\n\n<p>However, in May 2023, new bids were submitted, with X, LLC tendering $90 million USD and Integrated Group Guyana Inc. tendering $86.1 million USD.<\/p>\n\n\n\n<p>Dr. Jagdeo highlighted the profitability of the hotel, describing it as one of the most profitable in the hemisphere. <\/p>\n\n\n\n<p>He mentioned that the government has contingencies in place, including the possibility of inviting the company to conclude an arrangement if the second bid is still not valid.<\/p>\n\n\n\n<p>The Marriott Hotel, constructed in 2015 through a loan from Republic Bank and a $30 million USD investment from the government through NICIL, remains a significant asset.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Josiah Williams Recent developments suggest that the government is considering reassessing bids for the sale of the Marriott Hotel or initiating a third round of bids. Dr. Bharrat Jagdeo,&hellip;<\/p>\n","protected":false},"author":4,"featured_media":19185,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[361,350],"tags":[],"class_list":["post-19184","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-and-economy","category-news"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/19184","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/comments?post=19184"}],"version-history":[{"count":1,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/19184\/revisions"}],"predecessor-version":[{"id":19186,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/posts\/19184\/revisions\/19186"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media\/19185"}],"wp:attachment":[{"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/media?parent=19184"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/categories?post=19184"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ncnguyana.com\/2023\/wp-json\/wp\/v2\/tags?post=19184"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}