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.