Hotel Boom Part of Holistic Tourism Growth
By Omari Joesph
Tourism and hospitality is booming in Guyana . In 2021 , Public Works Minister Juan Edghill announced that eight new hotels would be built in the “ next couple of years .” His statement signalled that the coronavirus pandemic hardly dented hotel investors ’ confidence in Guyana . President Dr Irfaan Ali confirmed the optimism in 2024 when he raised the number to fifteen new hotels in the next four years , adding thousands of rooms to Guyana ’ s stock . Is there too much focus on building hotels ? Without context , such a dramatic expansion of the sector may sound misguided . However , the numbers and industry trends indicate that these investments are long overdue .
Tourist arrivals have increased yearly since the airways reopened after the pandemic . According to the Minister of Tourism , Industry , and Commerce , Oneidge Walrond , Guyana had over 319,000 arrivals in 2023 , a new record high . These visitors spent an estimated US $ 338 million ,
based on figures from the Guyana Office for Investment ( GO- Invest ).
The burgeoning oil and gas sector is responsible for much of the growth in visitor arrivals . However , Guyana ' s hosting of the Caribbean Premier League ( CPL ) Finals and Cricket Carnival for three consecutive years has also increased arrivals . As the oil and gas sector grows and Guyana continues to host more international events , the demand for worldclass accommodation will continue to rise .
Several internationally recognised brands such as Marriott , Hyatt , Hilton , Radisson and Best Western are coming to Guyana to meet growing demand . Through the Tourism and Commerce Ministry and the Guyana Office for Investment ( GO-Invest ), the Government of Guyana signed a Memorandum of Understanding ( MoU ) in 2020 with investors to construct a US $ 90 million Hilton Hotel at McDoom , Greater Georgetown . A Courtyard by Marriott Hotel is coming to Timehri , East Bank Demerara , in 2024 . The boutique-style Aiden by Best Western Hotel at Robb and
Oronoque Streets in Georgetown is expected to open in 2024 . Construction is also ongoing for the US $ 32.2 million Hyatt Place Hotel at Providence , East Bank Demerara .
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