The Guyana Government through its holding company, NICIL is seeking expressions of interest (EoIs) for the sale of its shares in the Guyana Marriott Hotel.
The hotel was controversially built with state and other funds and had been unable to service a key loan which the government had to take over. The hotel had its origins under the last Jagdeo administration. Financials for the hotel have not been made available to the public for a number of years even though the hotel opened in 2015.
In an advertisement in today’s Stabroek News for pre-qualification, the National Industrial and Commercial Investments Limited (NICIL) said it is seeking EoIs from persons or companies, individually or as part of a joint venture/consortium with an interest in purchasing its shares in Atlantic Hotel Inc (AHI) which is the special purpose company which had been established for the hotel.
NICIL said that the pre-qualification notice is for the purpose of shortlisting the parties who have the necessary financial capability.
Applications for pre-qualification must include the following: financial capability in terms of net worth, audited financial statements for the last three financial years, net worth of a minimum of US$250m and a letter of financial capability from a recognised financial institution to acquire NICIL’s shares in AHI for the Guyana Marriott Hotel.
The deadline for the submission of applications is 2 pm on January 10th, 2023. The applications for pre-qualification have to be submitted to the Chief Executive Officer, NICIL, 199 Camp Street, South Cummingsburg.
