On Sunday I asked the following question of Stabroek News on their blog about the sale of the Marriott Hotel and got the shock of my life:
“Was the investor willing to pay US$10m for the whole hotel? Or was he/she an equity investor who was willing to pay US$10m for the hotel and take on the debt of some US$60m (cost of hotel)?
“If it was the latter then basically the PPP/C Government was selling the hotel for US$10m plus cost.”
Moderator’s note: “The investor was paying US$8m for two-thirds of Marriott. No debt.”
It would seem as if I was too hasty in defending the PPP/C on the SN blog. In this case, the PPP/C was selling out Guyana. What were they thinking? I could understand it if the debt was included in the deal, because then Guyanese would have been better off.
Apologies to all friends and foes. You know how it goes; you place your trust in people and they sometimes let you down.