(Barbados Nation) After eight years in the pipeline, the first step has been taken to make the multimillion-dollar Hyatt Hotel a reality on the Bridgetown landscape.
Mark Maloney and James Edghill, directors of Vision Development Inc., the company behind the project and Patrick McCudden, Hyatt Hotels and Resorts’ senior vice-president and head of corporate development and construction, on Tuesday signed an agreement that will see the start of construction of the over US $100 million international hotel on Lower Bay Street within the next two months.
The Hyatt project had continuously been stalled as a result of regulatory red tape but with all signals now on go, Barbados will within the next two years have an upscale 15-storey hotel with 232 rooms and 30 condos on the top floor, just on the fringe of the island’s main city.
At Tuesday’s signing Minister of Finance Chris Sinckler gave the assurance the new hotel would be in line for the same concessions which existing hotels are now enjoying under the Tourism Development Act.
