Gouveia announces US$18M five-year investment as Roraima turns 20

– new aircraft, Timehri hotel on the cards

The acquisition of a new aircraft, the erection of a new hotel at Timehri and the installation of an ultra-modern industrial kitchen at the company’s Duke Lodge Hotel are some of the elements of an investment in the “ongoing consolidation” of Roraima Airways Inc, which the company’s Chief Executive Officer, Captain Gerry Gouveia, says will cost approximately US$18 million over the next five years.

“What we have in hand at this time is a five-year plan that looks at the development of most of the key entities in the Roraima Group. We are aiming to develop our company in a direction that is consistent with the direction in which the country’s economy is going,” Gouveia told Stabroek Business.

Roraima’s Ogle operation

In an exclusive interview with this newspaper which coincides with the unfolding of a programme of activities to mark the company’s 20th anniversary, Gouveia said the acquisition of a new aircraft was part of an approximately US$10 million investment that includes the upgrading of the company’s hangar and office operations at Ogle. Gouveia said plans for the further shoring up of the aviation services’ capacity of the company will also see it investing approximately US$500,000 in its Timehri ground-handling operations.

Upgrading projects associated with the company’s Roraima Duke Lodge asset include the addition of a further 30 rooms to the facility, a project which the company’s Chief Executive Officer told Stabroek Business will cost the company US$2.5 million. Gouveia said other projects associated with Duke Lodge, which are part of the company’s five-year programme include the construction of a new banqueting hall and conference facilities at a cost of US$500,000 and the installation of a new industrial kitchen at a cost of around US$400,000.

Gouveia told Stabroek Business that the company’s multi-million-dollar investment initiative was intended to take its operations “to a higher level”. He said the enhancements being undertaken at Duke Lodge were “essentially a response to my recognition of the need to qualitatively enhance our hospitality services and provide the kinds of facilities that would attract more guests to our facilities.” He said the focus on acquiring a new aircraft and shoring up facilities at both Ogle and Timehri was “reflective of a recognition that Guyana’s aviation sector had come of age” and that investment in an enhanced service was necessary.

Gouveia said the company’s decision to undertake such a significant investment, “has everything to do with our faith in Guyana, the economy and the tourism industry. We are fortunate to be working with a commercial banking system that includes Republic Bank which affords the business sector the opportunity to make meaningful investments in the Guyana economy.”

The industrial kitchen being installed at the Roraima Duke Lodge

According to Gouveia, the company was gearing itself to “enter a new phase” with the hands-on involvement in the management of Roraima Airways of his two sons, Kevin and Gerry (Jr), both of whom currently reside in Canada. “Our plan has always been for them to return to help manage Roraima and we are moving closer to that stage. My older son, Kevin, is a qualified pilot who has just begun to serve with the Canadian Air Force. My younger son, who is also flying, is likely to be coming into the company in the hospitality sector,” he added.

Since its establishment in 1992, Roraima Airways has been an aggressive investor in the hospitality sector. “What we have been doing, primarily, is selling services. It’s been a challenge since much of what we offer is not tangible and that very often makes quality more difficult. I believe that one of our consummate accomplishments as a company is the fact that we have been able to meet and in many cases surpass those intangible standards,” Gouveia told Stabroek Business.

Latest in Business

Guyana Metal Recyclers Association President Michael Benjamin

Metal exporters want urgent presidential intervention

– business ministry working on new procedures Piqued over what it says has been the suspension—without either notice or official notification—of the scrap metal trade by the APNU+AFC administration since June last year, the Guyana Metal Recyclers Association (GMRA) the official umbrella body for local exporters has told the Stabroek Business that the protracted inability of businesses to ply their trade is wreaking havoc with the industry and denying legitimate businessmen the right to earn a living.

The Far Rockaway Hotel

Kwakwani $$$M hotel investment seeks to breathe new life into community

Gavin August may well be unique in the extent of his financial investment in Kwakwani: an estimated $50 million to create a 12-room hotel, which he hopes will pay him back down the road, when the fortunes of the community change.

default placeholder

Does crowdfunding have the power to grow Caribbean economies? (Part 2)

By A Cecile Watson   A Cecile Watson is the founder of pitchandchoose.com. She is a former senior regional banker, an international speaker, a certified financial education instructor and the Women’s Entrepreneurship Day Ambassador Regional Leader for the Caribbean.

20160624gold prices June24

Kitco Market

Gold Prices for the three day period ending Thursday  June 23, 2016Kitco is a Canadian company that buys and sells precious metals such as gold, copper and silver.

IDB Chief Economist Jose Juan Ruiz

Caribbean facing savings crisis – IDB

A new study released earlier this month by the Inter-American Development Bank (IDB) has put countries in Latin America and the Caribbean on notice that they are confronted with a savings crisis that might do damage to their economies in the years ahead.


Prices Prepared by the Guyana Marketing Corporation

(Prepared by the Guyana Marketing Corporation and published by Stabroek Business as a public service)*Prices only represent the average Wholesale Farmgate and Retail Prices at the above mentioned markets and are NOT prices set by the Guyana Marketing Corporation or Ministry of Agriculture.

Aunty Picky

Placing a premium on education: Annandale businesses support growth of secondary school

As the story goes, the name Annandale is said to honour the two daughters of the proprietor of the tract of land to which the name was given.

Talks underway: The respective delegations from the Guyana Public Service Union and the Government of Guyana face each other on Wednesday at the start of what could be the country’s most important industrial relations encounter since the Armstrong Arbitration Commission.

GPSU, gov’t pay hike talks opening ‘a transformational moment’ – Yarde

The Guyana Public Service Union (GPSU) is treating the current public service wages and salaries negotiations with the Government of Guyana as “the start of a process aimed at bettering the lot of public servants in a manner that goes way beyond the monetary benefits which we expect will derive from the process,” its President Patrick Yarde has said.


About these comments

The comments section is intended to provide a forum for reasoned and reasonable debate on the newspaper's content and is an extension of the newspaper and what it has become well known for over its history: accuracy, balance and fairness. We reserve the right to edit or delete comments which contain attacks on other users, slander, coarse language and profanity, and gratuitous and incendiary references to race and ethnicity.

Stay updated! Follow Stabroek News on Facebook or Twitter.

Get the day's headlines from SN in your inbox every morning: