Hong Kong businessmen named as Marriott investors

-US$27M in debt financing approved

Two Hong Kong businessmen, Victor How Chung Chan and Xu Han, were yesterday identified as the principals behind the private investment in the controversial Marriott Hotel, for which Republic Bank Limited in Trinidad announced long-awaited approval of US$27M in debt financing.

Atlantic Hotel Inc (AHI) and Republic Bank Ltd (RBL) made the announcement of the investors in a joint statement yesterday, just over eight months after executive Director of the National Industrial and Commercial Investment Limited (NICIL) Winston Brassington had disclosed that a private investor would be contributing US$8M towards the needed equity for the completion of the Marriott Hotel and would become the majority shareholder.

The controversial hotel project, which has faced intense criticism and scrutiny, was last scheduled to be opened by August. Although in recent months there has …..To continue reading, login or subscribe now.

Join the Conversation

After you comment, click Post. If you're not already logged in you will be asked to log in or register.

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/delete comments which contain attacks on other users, slander, coarse language and profanity, and gratuitous and incendiary references to race and ethnicity. We moderate ALL comments, so your comment will not be published until it has been reviewed by a moderator.